|Tenure||Rate of Interest p.a – General||Rate of Interest p.a – Senoir Citizens|
|Above 1 year & upto 5 years||6.85||7.1|
|Above 5 years & upto 10 years||6.7||6.95|
NRE Recurring Deposit Interest Rates
|Tenure||Rate of Interest p.a|
|Above 1 Year & upto 5 years||6.85|
|Above 5 Years & upto 10 Years||6.7|
Please Note - There is no special Senior Citizen rate for NRE deposits.
Get the Best Rates for a City Union Bank Recurring Deposit
City Union bank offers its customers the best interest rates for its Recurring Deposit scheme. The bank offers several Recurring Deposit schemes, which enable investors to build up their wealth through small deposits every month. In this way, investors who cannot make a lump sum investment can also benefit from earning a high rate of interest on their deposits.
Investors can make deposits in multiples of Rs. 5, with a deposit to be made every month failing which a penalty will be levied on the depositor.
City Union Bank offers Recurring Deposits for different time periods with special rates for senior citizens. It also offers Non Resident Indians the opportunity to invest through their NRE Recurring Deposit scheme, as well as an option to maintain a Recurring Deposit in a foreign currency, both of which offer competitive interest rates.
City Union Bank Short Term Recurring Deposit Interest Rates
Customers can open a Recurring Deposit with City Union Bank for short durations ranging from 1 year to 3 years. The interest rate offered for deposits for a 1 year tenure is 7.10% per annum.
City Union Bank Medium and Long Term Recurring Deposit Interest Rates
City Union Bank offers depositors attractive rates of interest for medium and long term Recurring Deposits as well. These terms range from over 1 year to 10 years.
Depositors will earn interest of 6.85% on deposits made for a tenure above a year and up to 5 years. City Union will pay out 6.70% as interest on deposits for a duration of 5 years to 10 years. The decrease in the rate of interest is due to the fact that it is compounded quarterly.
Senior Citizen Recurring Deposit Interest Rates
Senior citizens enjoy a higher rate of interest on Recurring Deposits made with the bank. City Union Bank provides senior citizen depositors with an additional interest rates on deposits for tenures above 1 year.
Recurring Deposits for a tenure of 1 year will earn depositors 7.50% interest, while tenures from above 1 year up to 5 years will earn depositors interest of 7.10%.
Senior citizen depositors who opt for Recurring Deposit with a tenure above 5 years up to 10 years will receive 6.95% as interest.
NRE Recurring Deposit Interest Rates
City Union Bank also provides Recurring Deposit accounts for NRE’s offering both short as well as long term deposits. The short term deposit period of 1 year tenure, the bank offers 6.70% interest on the deposited sum.
The long term deposit ranges from above 1 year & upto 5 years, with depositors receiving 6.85% on their deposited sum.
News About City Union Bank Recurring Deposit Interest Rates
City Union Bank Revises Interest Rates of Recurring Deposits
City Union Bank has changed the interest rates of its recurring deposit schemes. Now, the bank offers an interest 7.1% p.a for a tenure of 1 year. Recurring Deposit customers of the bank can earn an interest rate of 6.85% p.a. for a tenure of more than 1 year and up to 5 years and 6.70% p.a. for a tenure of more than 5 years and up to 10 years. Senior citizens can avail an interest rate of 7.5% p.a. for a tenure of 1 year and 7.1% for a tenure more than 1 year and up to 5 years. For a tenure of more than 5 years and up to 10 years, senior citizens will receive an interest rate of 6.95% p.a. on their recurring deposits. City Union Bank has also revised the recurring deposit interest rates for NREs as well. NRE customers an avail an interest of 6.7% p.a. for a tenure of 1 year and 6.85% p.a. for a tenure of more than 1 year and up to 5 years.
1st December 2016