Union Bank NRE/NRO/NRI/FCNR FD Rates
Union Bank of India offers NRE, NRO and FCNR fixed deposits for NRIs, with NRE interest fully repatriable and tax-free in India. Interest accrues only once the deposit completes one year, and Union Bank levies no penalty for premature withdrawal of NRO fixed deposits.
Union Bank of India NRE FD Rates for Less Than Rs.3 Crore
Tenure | Interest Rate (p.a.) |
1 Year to 399 Days | 6.20% p.a. |
400 Days | 6.25% p.a. |
401 Days to 443 Days | 6.25% p.a. |
444 Days | 6.50% p.a. |
445 Days to 554 Days | 6.15% p.a. |
555 Days | 6.55% p.a. |
556 Days to 996 Days | 6.15% p.a. |
997 Days | 6.10% p.a. |
998 Days to 3 years | 6.10% p.a. |
Above 3 years to 10 years | 6.00% p.a. |
Note: The interest rates are effective from 4 August 2026.
NRE deposits and the interest earned on them are freely repatriable outside India, and the interest is exempt from Indian income tax.
Union Bank NRO Fixed Deposit Rates
Tenure | Interest Rate (p.a.) |
7 Days to 14 Days | 2.70% p.a. |
15 Days to 30 Days | 2.80% p.a. |
31 Days to 45 Days | 3.00% p.a. |
46 Days to 90 Days | 4.00% p.a. |
91 Days to 120 Days | 4.30% p.a. |
121 Days to 180 Days | 4.75% p.a. |
181 Days to 270 Days | 5.40% p.a. |
271 Days to 364 Days | 5.60% p.a. |
1 Year to 399 Days | 6.20% p.a. |
400 Days | 6.25% p.a. |
401 Days to 443 Days | 6.25% p.a. |
444 Days | 6.50% p.a. |
445 Days to 554 Days | 6.15% p.a. |
555 Days | 6.55% p.a. |
556 Days to 996 Days | 6.15% p.a. |
997 Days to 3 years | 6.10% p.a. |
Above 3 years to 10 years | 6.00% p.a. |
Note: The interest rates are effective from 4 August 2026.
NRO deposits are meant for income earned in India and the interest earned on them is taxable, unlike NRE deposits. NRO funds can be repatriated abroad up to USD 1 million per financial year, subject to conditions set by the regulator.
Union Bank FCNR (B) FD Rates
Tenure (p.a.) | USD (< USD 2,00,000) | USD (≥ USD 2,00,000) | GBP | EUR | JPY | CAD | AUD |
1 to 2 years | 4.40% | 4.50% | 4.05% | 2.75% | 0.20% | 3.00% | 3.75% |
2 to 3 years | 3.55% | 3.60% | 3.00% | 2.05% | 0.01% | 2.75% | 3.50% |
3 to 4 years | 3.35% | 3.40% | 2.50% | 1.55% | 0.01% | 2.50% | 3.00% |
4 to 5 years | 3.00% | 3.05% | 2.50% | 1.55% | 0.01% | 2.50% | 3.00% |
5 years only | 3.05% | 3.10% | 2.50% | 1.55% | 0.01% | 2.50% | 3.00% |
Note: The interest rates are effective from 30 May 2026.
Union Bank's FCNR(B) deposits protect NRIs from foreign exchange rate fluctuations, since both the principal and the interest are held and repaid in the same foreign currency in which the deposit was made.
Summary
Union Bank of India offers NRE, NRO and FCNR fixed deposits so NRIs can invest foreign or domestic income at rates the bank revises periodically. NRE and FCNR deposits keep the principal and interest freely repatriable, while NRO deposits suit income earned in India and carry no premature withdrawal penalty. Check the tenure-wise rate tables above and Union Bank's official rate page before booking a Union Bank NRI fixed deposit.
FAQs on Union Bank NRI Fixed Deposits
1.What is a Union Bank NRI fixed deposit?
A Union Bank NRI fixed deposit is a term deposit that lets non-resident Indians invest through an NRE, NRO or FCNR account with Union Bank of India. NRE and FCNR deposits hold foreign earnings, while NRO deposits hold income earned in India. Union Bank offers these fixed deposits across a range of tenures to suit different investment horizons.
2.Does Union Bank charge a penalty for premature withdrawal of an NRO fixed deposit?
No, Union Bank does not charge a penalty for premature withdrawal of an NRO fixed deposit. This makes the Union Bank NRO fixed deposit more flexible than schemes that levy an early-withdrawal charge.
3.Is interest paid on a Union Bank NRI fixed deposit withdrawn before completing one year?
No, Union Bank does not pay interest on an NRI fixed deposit withdrawn before it completes one year. Once the deposit crosses one year, interest is paid for the exact period the money remained with Union Bank.
4.What is the tenure of the Union Bank NRE fixed deposit scheme?
The Union Bank NRE fixed deposit scheme is available for tenures ranging from 1 year to 10 years. NRIs can choose a tenure within this range based on their investment goals.
5.Can NRIs open a joint account under the Union Bank NRE fixed deposit scheme?
Yes, NRIs can open a joint account under the Union Bank NRE fixed deposit scheme.
6.Can a nominee be added to a Union Bank NRE fixed deposit?
Yes, a nominee can be added to a Union Bank NRE fixed deposit.
7. Is TDS applicable on a Union Bank NRE fixed deposit?
No, TDS is not applicable on a Union Bank NRE fixed deposit.
8.Do senior citizens get a higher interest rate on a Union Bank NRE fixed deposit?
No, Union Bank does not offer senior citizens an additional interest rate on its NRE fixed deposit scheme.
9.Which foreign currencies can NRIs deposit under the Union Bank FCNR fixed deposit scheme?
NRIs can open a Union Bank FCNR fixed deposit in US Dollar, British Pound, Euro, Japanese Yen or Canadian Dollar. Choosing the currency in which you earn helps you avoid conversion-related exchange rate risk.
Disclaimer
Credit Card:
Credit Score:
Personal Loan:
Home Loan:
Fixed Deposit:
Copyright © 2026 BankBazaar.com.