The process to open a Recurring Deposit (RD) account at City Union Bank is simple. The tenure of the RD account ranges between 12 months and 120 months. The minimum amount that must be deposited in order to open an RD account is Rs.100. Depending on the tenure of the account, an additional rate of interest is provided to senior citizens. The interest rate offered by City Union Bank ranges between 6.30% and 7.10%. You can avail a loan against the deposit available in the account as well.
Interest Rates offered by City Union Bank on Recurring Deposits of less than Rs.2 crore
|Tenure||Interest rate p.a. for General Citizens||Interest rate p.a. for Senior Citizens|
|Above 1 year but less than 5 years||5.50%||5.50%|
|Above 5 years and up to 10 years||5.25%||5.25%|
Note: The interest rate mentioned in the table are effective 27 April 2020.
Types of Recurring Deposit accounts opened by City Union BankRecurring Deposits for Individuals - This type of recurring deposit account can be opened with a minimum deposit of Rs.100. The period of deposit ranges between 12 months and 120 months. You can avail a loan against the available deposit and comes with the preclosure facility. TDS is deducted at prevalent income tax rate. CUB Apoorva – Life Insurance Linked Recurring Deposits – CUB Apoorva, a life insurance linked recurring deposit account offers you dual benefit in monthly savings. On opening this RD account, you enjoy an insurance cover of up to Rs.5 lakh till maturity of the deposit account. The premium collected is eligible for tax exemption. Just like recurring deposit for individuals, it can be opened with a minimum deposit of Rs.100 and a maximum of Rs.10,000. The tenure of the account can range between 3 years and 5 years. You can avail a loan against the available deposit in the account and is laced with preclosure and nomination facilities.
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 and 3 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 in the range of 5.25% and 5.50% 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 5.25% p.a. to 6.50% 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.
RD Interest Rate Pages
- United Bank RD Interest Rates
- Uco Bank RD Interest Rates
- Allahabad Bank RD Interest Rates
- Central Bank RD Interest Rates
- Federal Bank RD Interest Rates
- Indian Bank RD Interest Rates
- Andhra Bank RD Interest Rates
- Kotak Mahindra RD Interest Rates
- Syndicate Bank RD Interest Rates
- IOB RD Interest Rates
- City Union Bank RD Interest Rates
- Citybank RD Interest Rates
- Indusind Bank RD Interest Rates
- Corporation Bank RD Interest Rates
- BOM RD Interest Rates
RD Other Pages
- Recurring Deposit Vs. Chit Fund
- Miss to Pay the Recurring Deposit Due
- Difference Between Recurring Deposit and SIP
- Open RD Account through HDFC NetBanking
- RD Account in SBI
- Advantages of Recurring Deposit
- Flexi RD
- SBI Flexi RD Schemes
- Monthly Recurring Deposit
- Co-operative Bank Recurring Deposit
- City Union Bank Recurring Deposit
- Indian Bank Recurring Deposit
- Union Bank Recurring Deposit
- UCO Bank Recurring Deposit