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Corporation Bank Recurring Deposit Interest Rates 2021

Corporation Bank has been merged with the Union Bank of India. With the merger in place, the customers of Corporation Bank will be required to avail the interest rates which are applicable on the Union Bank of India Recurring Deposits.

Union Bank of India offers attractive interest rates when it comes to investing in recurring deposits. The lender offers you a rate of interest that ranges between 4.50% p.a. and 6.65% p.a.0.50% on all RD tenures provided by the bank.

Maturity Band Less than Rs.2 Crore
181 days to less than 1 year 4.50% p.a.
1 year 5.25% p.a.
More than 1 year to 2 years 5.30% p.a.
More than 2 years to 3 years 5.50% p.a.
More than 1 years to 3 years -
More than 3 years to 5 years 5.55% p.a.
More than 5 years to 10 years 5.60% p.a.

The public-lender offer you two recurring deposit schemes. They are:

  • Regular RD scheme
  • Flexible RD scheme.

A Regular RD scheme can be opened for a period that ranges between 12 months to 120 months. The minimum amount of deposit is Rs.50 per month in rural and semi-urban branches while for other branches, the minimum deposit amount is Rs.100. An RD account under the regular scheme can be opened by:

  • An individual in his/her own name
  • Individuals in their joint names
  • Minors represented by their parents or guardians
  • Clubs, associations, HUFs, government departments, trusts, firms etc.

Under the Flexible RD scheme, the minimum deposit amount is Rs.500 per month. The tenure of the RD is fixed as three years. It can be opened by:

  • Societies, partnerships, HUFs, govt. departments etc.
  • An Individuals in his/her own name
  • Individuals in their joint names
  • Minors represented by their parents or guardians

Corporation Bank Short Term Recurring Deposit Interest Rates

A short-term recurring deposit account can be opened with Corporation bank for a period of 180 days to 12 months. The rate of interest offered on the tenure by the lender is 4.50% p.a. to 5.25% p.a.

Corporation Bank Medium and Long Term Recurring Deposit Interest Rates

Medium term recurring deposits are those which are opened for a period that ranges between 12 months and less than 36 months. Corporation bank offers interest in the range of 5.25% p.a. to 5.50% p.a. for medium-term RDs. Any RD account opened for a period that is more than 36 months falls under the category of long-term RDs. The rate of interest offered to such deposits is 5.55% p.a. to 5.60% p.a.

More you need to know about Recurring Deposit

Corporation Bank RD Schemes

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