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Union Bank of India FD Interest Rates
FD Rates of Domestic/NRO deposits of less than Rs 2 crore w.e.f. 25th April 2024
| Tenure |
Interest Rates (% p.a.) |
||
| Regular Citizens | Senior Citizens | Super Senior Citizens* | |
| 7 days to 14 days | 3.50 | 4.00 | 4.25 |
| 15 days to 30 days | 3.50 | 4.00 | 4.25 |
| 31 days to 45 days | 3.50 | 4.00 | 4.25 |
| 46 days to 90 days | 4.50 | 5.00 | 5.25 |
| 91 days to 120 days | 4.80 | 5.30 | 5.55 |
| 121 days to 180 days | 4.90 | 5.40 | 5.65 |
| 181 days to less than 1 year | 5.75 | 6.25 | 6.50 |
| 1 year | 6.75 | 7.25 | 7.50 |
| Above 1 year to 398 days | 6.75 | 7.25 | 7.50 |
| 399 days | 7.25 | 7.75 | 8.00 |
| 400 days to 2 years | 6.50 | 7.00 | 7.25 |
| Above 2 years to 998 days | 6.50 | 7.00 | 7.25 |
| 999 days | 6.40 | 6.95 | 7.15 |
| 1000 days to less than 3 years | 6.50 | 7.00 | 7.25 |
| 3 years | 6.50 | 7.00 | 7.25 |
| Above 3 years to 5 years | 6.50 | 7.00 | 7.25 |
| Above 5 years to 10 years | 6.50 | 7.00 | 7.25 |
*The additional rates on term deposits for super senior citizens applicable for term deposits opened/renewed on or after 1 December 2022
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Union Bank of India Tax Saver Deposit
| Tenure | Interest Rates (% p.a.) | |
| Regular Citizens | Senior Citizens | |
| 5 years to 10 years | 6.50 | 7.00 |
Note: Interest rates as on 1st May 2024
Comparison of Top 20 Scheduled Banks based on FD Rates
Banks | Highest FD rate (% p.a.) | 1-year FD rate (% p.a.) | 3-year FD rate (% p.a.) | 5-year FD rate (% p.a.) | Additional interest rate for senior citizens (% p.a.) |
| Unity Small Finance Bank | 9.00 | 7.85 | 8.15 | 8.15 | 0.50 |
| North East Small Finance Bank | 9.00 | 7.00 | 9.00 | 6.25 | 0.50 |
| Suryoday Small Finance Bank | 8.60 | 8.05 | 8.60 | 8.25 | 0.50 |
| Shivalik Small Finance Bank | 8.55 | 6.00 | 7.50 | 6.50 | 0.50 |
| Utkarsh Small Finance Bank | 8.50 | 8.00 | 8.50 | 7.75 | 0.60 |
| Jana Small Finance Bank | 8.25 | 8.25 | 8.25 | 8.20 | 0.50 |
| Ujjivan Small Finance Bank | 8.25 | 8.25 | 7.20 | 7.20 | 0.50 |
| ESAF Small Finance Bank | 8.25 | 6.00 | 6.75 | 6.25 | 0.50 |
| Equitas Small Finance Bank | 8.25 | 8.20 | 8.00 | 7.25 | 0.50 |
| SBM Bank | 8.25 | 7.05 | 7.30 | 7.75 | 0.50 |
| RBL Bank | 8.10 | 7.50 | 7.50 | 7.10 | 0.50 |
| DCB Bank | 8.05 | 7.10 | 7.55 | 7.40 | 0.50 |
| Bandhan Bank | 8.05 | 8.05 | 7.25 | 5.85 | 0.50-0.75 |
| AU Small Finance Bank | 8.00 | 7.25 | 7.50 | 7.25 | 0.50 |
| YES Bank | 7.75 | 7.25 | 7.25 | 7.25 | 0.50-0.75 |
| Induslnd Bank | 7.75 | 7.75 | 7.25 | 7.25 | 0.50 |
| IDFC First Bank | 7.75 | 6.50 | 6.80 | 6.75 | 0.50 |
| Central Bank of India | 7.45 | 7.00 | 6.00 | 5.75 | 0.50 |
| Punjab & Sind | 7.45 | 6.30 | 6.00 | 6.00 | 6.00 |
| HDFC Bank | 7.40 | 6.60 | 7.00 | 7.00 | 0.50 |
The rates are updated as of 1st May 2024
The FD maturity value depends on factors like the Union Bank of India FD interest rates, deposit tenure, principal FD amount and the type of FD chosen, i.e. cumulative or non-cumulative FD. Under non-cumulative FD, Union Bank of India offers monthly, quarterly and half-yearly interest payout options under its traditional plans. In the quarterly and half-yearly interest pay-out option, interest is credited in the current/saving account of the depositor on quarterly and half-yearly basis respectively. In the monthly pay-out option, interest is calculated quarterly and paid out to the depositor each month at a discounted rate. The interest component for Union Bank of India Cumulative FD option is calculated and compounded on quarterly rests and credited to the deposit account at half-yearly intervals. The interest component remains invested till FD maturity. Union Bank of India FD monthly payout option is suited for depositors needing fixed monthly income on a regular basis to meet their expenses. The cumulative investment option, on the other hand, helps depositors take advantage of the power of compounding, as the interest component remains invested in the deposit account and starts generating interest income as well.
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Advantages of Using Union Bank of India FD Calculator
The main benefits of using online Union Bank of India FD Calculator are as follows:
Free of Cost
Prospective depositors can use the Union Bank of India FD calculator tool a number of times, without charge, to compare and evaluate the overall returns for different combinations of FD interest rates, principal amount and FD tenure.
Saves Time
The process of calculating the FD maturity value manually can be laborious and time taking, which can lead to human errors. The automated calculation process used by Union Bank of India FD calculator helps save time along with providing reliably accurate results.
Know Your Returns in Advance
Union Bank of India FD calculator provides reliable estimates of the total investment earnings. Therefore, prospective FD applicants can use the Union Bank of India FD calculator to make well-informed decisions based on their liquidity needs and cash flows before opting for a fixed deposit.
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