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City Union Bank Recurring Deposit Interest Rates

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City Union Bank offer the option of opening a recurring deposit to both resident Indians and NRIs. The interest offered by the bank are quite attractive irrespective of the tenure, the individual opts for. To resident Indians, the bank offers two different types of recurring deposit schemes. They are:

  • Normal recurring deposits - A normal recurring deposit can be opened with a minimum monthly investment of Rs.100. The tenures available is in the range of 12 months to 120 months. The bank offers the facility of availing loan against the deposit as well as option of preclosure.
  • Life Insurance linked recurring deposits - The life insurance linked recurring deposit can also be opened with a minimum monthly deposit of Rs.100. This RD can be opened a duration between 3 years and 5 years. Loan against deposit, preclosure facility, and nomination facility are offered to customers by the bank.

Listed below are the tenures and interest rates offered by City Union Bank to Resident Indians when it comes to recurring deposits as of 9 July 2019:

Deposit Tenure Interest rate for General Citizens (p.a.) Interest rate for Senior Citizens (p.a.)
12 months 7.35% 7.50%
12 months 1 day to 60 months 7% 7.25%
60 months 1 day to 120 months 6.70 6.95%

City Union Bank Short-Term Recurring Deposit Interest Rates

An RD account opened for a period of 12 months fall under the bracket of short-term recurring deposits. The interest offered by the bank to general citizens is 7.35% p.a. on such RDs.

City Union Bank Medium-Term Recurring Deposit Interest Rates

Recurring Deposits which are opened for a period that ranges between 1 year 1 day and 5 years are known as medium-term recurring deposits. The interest paid by the bank is 7% p.a. on medium-term recurring deposits.

City Union Bank Long-Term Recurring Deposit Interest Rates

On long-term recurring deposits, the interest paid by City Union Bank is 6.70% p.a. Long-term recurring deposits are those which have a tenure that ranges from 5 years 1 day to 10 years.

City Union Bank Senior Citizen Recurring Deposit Interest Rates

Citizens who fall under the bracket of senior citizens are offered interest in the range of 6.95% to 7.50% p.a. for opening a recurring deposit account with the bank. The bank offers senior citizens additional interest of 0.15% on the 1 year tenure and 0.25% on the other tenures.

NRE/NRO Recurring Deposit Interest Rates

The interest offered on NRE and NRO recurring deposits is the same as the ones offered to resident Indians by the bank.

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.

    1 December 2016

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City Union Bank RD Rates Reviews

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  • City Union Bank Recurring Deposit
    "Satisfactory"
    CITY UNION BANK
    0.5 5.0/5 "Blown Away!"
    I could open the recurring deposit online with City Union bank. The customer support is good and there are no hassles in the overall process. I earn a good interest on this account. The bank provides good services and the online banking is very convenient.
    Was this review helpful? 3
    , chennai
    Reviewed on Apr 05, 2019
  • City Union Bank
    City Union Bank Recurring Deposit
    "Good Service"
    CITY UNION BANK
    0.5 5.0/5 "Blown Away!"
    I travel every year with my family for that purpose I deposit Monthly 5000 which gets auto debited from the account. They also offers 7.1 % interest rate. The deposit was started from the branch and it has been a very good experience with their services.
    Was this review helpful? 21
    , chennai
    Reviewed on Jul 13, 2018
  • City Union Bank Recurring Deposit
    "Good"
    CITY UNION BANK
    0.5 5.0/5 "Blown Away!"
    I took the recurring deposit with the City union bank and I have taken it from the last three year of time. There will be some deduction if I miss the payment for a month. Customer service can be improved in the aspects like they should march towards technology. Rate of interest for the recurring deposit was around 10.25% before two years of time and now its up to 9.75%.
    Was this review helpful? 10
    , chennai
    Reviewed on Jan 20, 2016
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