|Tenure||Interest Rate (%)||Interest Rates for Senior Citizens (%)|
|181 days to 269 days||5.75||5.75|
|270 days to less than 1 year||6||6|
|Above 1 year to less than 2 years||6||6.5|
|2 years to less than 3 years||6||6.5|
|3 years to less than 5 years||6||6.5|
|5 years and above||6||6.5|
*For Deposits of Less Than ₹ 1 Crore
Get The Best Rates for a United Bank of India Recurring Deposit
Recurring deposits are a smart way to save money. Contribute a fixed amount monthly and save over a period of time. This is a good way to build up a savings fund. United Bank of India offers two types of recurring deposit schemes. The regular RD scheme can be opened by individuals. You can also open this account jointly. This deposit can be opened for a minor by the parents or guardian. The terms for these deposits range between 6 months and 120 months. The minimum installment is Rs. 50. The second scheme on offer is the United Flexi Deposit Scheme. The term for these deposits is 3 years to 10 years, in multiples of quarters. This deposit allows you to set a core amount as the monthly installment. You can then step up your monthly deposits up to 10 times the core amount.
United Bank of India Short Term Recurring Deposit Interest Rates
For deposit tenures of 181 days to less than one year, the interest rate applicable is 5.75% to 6.25% per annum. This depends on the amount of money you deposit. A deposit that is less than Rs. 1 crore for a period of 1 year earns the highest interest of 6.75% per annum.
United Bank of India Medium and Long Term Term Recurring Deposit Interest Rates
Deposits made for above 1 years to less than 3 years earn 6.75% interest per annum. Deposits above Rs. 1 crore earn lesser when compared to below Rs. 1 crore. Any deposit made for a long term of 3 years to less than 5 years or more, earns interest of 6.50% per annum. You stand to earn a greater amount of interest over a long tenure, so the interest rate will be lower.
United Bank of India Employees Recurring Deposit Interest Rates
The staff and retired employees of United Bank of India are eligible to earn 1% above the regular interest rates. This offer is not extended to any employee who was removed on the grounds of disciplinary action, compulsory retirement or dismissal.
United Bank of India Senior Citizen Recurring Deposit Interest Rates
Senior citizens are entitled to earn 0.50% above the interest rate offered for others. To be eligible for the additional interest rate, you must be at least 60 years old and open a deposit for more than 1 year. Retired employees who are senior citizens are eligible to avail of both bonus interest rates amounting to 1% + 0.50% per annum.
More you need to know about Recurring Deposit
- Compare Interest Rates on RD of United Bank of India with Other Banks and Institutions
- Check Features and Schemes of United Bank of India Recurring Deposit