Time Deposit Account (CD) Rates 7 - 31 Day CD, $2,500 minimum deposit to open 32 - 89 Day CD, $350 minimum deposit to open 90 - 179 Day CD, $350 minimum deposit to open. Union Bank of India FD Calculator: Get details on Union Bank of India FD rates on March 2021 by maturity period, deposit amount & fixed deposit interest rate with Union Bank of India Latest.

• Union Bank Fixed Deposit Rates Calculator
• City Union Bank Fixed Deposit Rates
• Union Bank Of India Fixed Deposit Rates

Table of Contents

• 2 Union Bank of India Fixed Deposit Interest Rates
  • 2.1 How to Apply
  • 2.2 Documents Required

About Union Bank of India Fixed Deposit

Ideas must be rolling all across your mind to deposit for the future and live a happy life with your family, aren’t they? You may contemplate to park your hard-earned sum in fixed deposits, mutual funds, life insurance, medical insurance and others. All these financial instruments are beneficial and could play a vital role in securing your future. However, every investment comes with a degree of risk. In this backdrop, it is necessary to assess which investment type will cater into your risk profile and provide the desired returns at the same time. It is where fixed deposit scores over all other investment tools. And guess, who will provide you with the fixed deposit offering you good return? It is Union Bank of India, a public sector undertaking unit that offers a host of fixed deposit schemes to make your future a bright one. The interest rates offered on the bank schemes is attractive and will fetch you good returns over a period of time. So, without any delay, let’s check out the interest table first.

Union Bank of India Fixed Deposit Interest Rates

(Rates As on March 31, 2017)

Union Bank of India Fixed Deposit Interest Rates for Senior Citizens

Senior Citizens are entitled to an additional interest rate for term deposits of one year and more. The additional interest rate offered by Union Bank of India is 0.50% over the normal rate for domestic residents.

How to Apply

After having a look at the interest rates, you would be keen to book an FD at Union Bank of India. You can visit the website of Union Bank of India and book an FD online, much unlike many PSU banks that do not offer online booking of FD. Additionally, you can call to the bank’s 24×7 customer care number-1800 22 22 44, 1800 208 2244 for domestic residents and +918025302510 for NRIs, as well as visit the nearest branch of Union Bank of India to open an FD.

You can access application forms for fixed deposits at the branches or the website of the bank. In any of the options, you will have to fill in the form and submit it to the bank officials for the processing of your application. The bank will open your FD account based on successful verification of the details.

Minimum Amount Required to Open an FD Account

For individuals below 60 years of age- ₹10,000 in Metro and Urban Branches, ₹5,000 in Rural and Semi-urban branches

For Senior Citizens-₹5,000

Union Bank of India Fixed Deposit Schemes

1. Fixed Deposit Receipt

Expect to generate regular income by booking a fixed deposit receipt at Union Bank of India. With a tenure of 7 days-upto 10 years, the depositors can earn a reasonably higher amount via the scheme.

Scheme Features

2. Union Tax Saver Deposit

The tax-saving deposit, which comes with a 5-year lock-in period, offers an option for depositors to transfer the deposit from one branch to another branch of Union Bank of India.

Scheme Features

3. Deposit Re-Investment Certificate

This scheme is ideally suited for individuals looking to invest a lump sum amount and get the interest compounded quarterly along with the principal amount.

Scheme Features

4. Monthly Income Scheme

As per the scheme, you can get the interest in your savings or current account during the last week of the month at a discounted value.

Scheme Features

5. Union Easy Tax Saver Deposit Scheme

Hunting for a flexible fixed deposit scheme? Invest in Union Easy Tax Saver Deposit Scheme that allows you to invest through monthly installments to accumulate a lump sum or deposit surplus funds as and when you have.

Scheme Features

Union Bank of India Fixed Deposit Eligibility Criteria

Persons eligible to open a fixed deposit at Union Bank of India belong to the set of people and associations mentioned below.

• Single & joint account holders
• Illiterate persona
• Visually Impaired Individuals
• Purdanasheen Ladies
• Associations
• Societies
• Trusts
• Clubs
• RBI-approved Agencies
• Institutions

Union Bank of India Fixed Deposit Form

You can either go to the branch or visit the website of Union Bank of India to access application forms for fixed deposits. In any of the options, you will have to fill in the form and submit it to the bank officials for the processing of your application. Upon successful verification of the details, you will able to book a fixed deposit.

Documents Required

The requirement of documents will differ according to the type of individuals and organisations.

Individuals

Passport, PAN Card, Voter Identity Card, Driving License, Job Card Issued by MNREGA Duly Signed by a State Govt Officer, Aadhaar Card

Joint Individuals

Passport, PAN Card, Voter Identity Card, Driving License, Job Card Issued by MNREGA Duly Signed by a State Govt Officer, Aadhaar Card

Non-Resident Individuals

Copies of Passport and Residence Visa, applicants need to be introduced by Indian Embassy/bank/Notary Public

Properietory Concern

Prescribed Proprietory Declaration Letter and any two of CST/VAT Certificate, Sales Tax/Service Tax, Professional Tax Registration Certificate, Certificate/ licence issued by Municipal Authorities under Shop & Establishment Act or any other similar documents showing the activities of the concern

Hindu Undivided Family (HUF)

Prescribed Joint Hindu Family Letter signed by all the major Coparceners, Declaration form from Karta, documents Validating the Identity of each of the Karta and all the major Co-parceners.

Partnership Firm/LLP

Registration Certificate (If Registered), Partnership Declaration, Partnership Deed, Recent Passport Size Photograph of All Partners, Any Identity Proof Document of the Partners, and Designated Partner Identification Number for LLP Only

Companies/Corporations

Certificate of Incorporation, Memorandum and Articles of Association, List of Directors with their Bio-data, Resolution from Board of Directors, Power of Attorney Granted to its Managers, Employees or Officers to Transact on its Behalf, License Copy Issued by Central Government

Trusts & Foundations

Registration Certificate, Trust Deed, Settlers Declaration, List of Trustees, Resolution of Trust Managing Committee for Account’s Opening and Operation, An Officially Valid Document with Regards to an Individual Receiving a Power of Attorney to Transact on its Behalf

Societies, Associations, NGOs, Clubs and Other Organizations

Registration Certificate (If Registered), By-Laws, Managing Committee Members and theirBio-Dataa, Resolution of Managing Committee of the Organization for Account Opening and Delegation of Powers for Operation of Accounts

As you know that a Fixed Deposit (FD) is an investment option offered by banks that gives you higher rate of interest than a regular savings account. By investing in an FD, you can achieve your financial goals comfortably due to higher returns offered by it.

City Union Bank Limited FD provides an option to deposit lump sum amount for a specific period, ranging from 7 days to 10 years. You can choose any of the tenures offered by City Union Bank Limited FD according to your convenience and financial objective. As soon as you select the tenure and deposit the amount in City Union Bank Limited_ FD, it will start earning an interest based on the tenure of the deposit. Customer is allowed to deposit lump sum money into a fixed deposit only once into his FD account at the time of opening the account with the bank and afterwards he cannot deposit additional money in the same FD account.

You can also get tax benefits under section 80C of the Income Tax Act on an amount between Rs. 100 to 1.5 lakh by investing in City Union Bank Limited FD for a tenure of 5 years or more.

Union Bank Fixed Deposit Rates Calculator

Following table provides you City Union Bank Limited FD Rates of various tenors. Also, given below is the facility/ option, through which you can calculate the interest rate and the maturity value of your City Union Bank Limited FD for different tenures by clicking on the 'calculate' button provided in the table.

City Union Bank Limited Fixed Deposit Interest Rates (as on 06 Mar 2021)

Features & Benefits: City Union Bank Limited Fixed Deposit

• Competitive interest rates are offered with flexible FD tenures to suit your investment plan.
• FD account can be opened online or by visiting your nearest City Union Bank Limited branch.
• No cap on the Maximum Amount of FD
• FD Tenures: 7 days to 10 years
• Different interest payout options such as monthly, quarterly, etc.
• Loan/ Overdraft against FD facility is available upto 85% of the FD amount.
• Easy and fast liquidity options are available.
• Nomination facility is available.
• Tax benefit of amount up to Rs 1,50,000, through tax saving term deposit scheme
• Part withdrawal facility and auto-renewal facilities are also available
• Senior citizens can enjoy higher interest rate as compared to regular citizens
• NRE, NRO and FCNR deposit facility is offered by the bank

Who is Eligible for City Union Bank Limited Fixed Deposit

Any of the following persons is eligible to invest in fixed deposits (FD):

• Individual
• Minor
• HUF
• Proprietary Firm
• Partnership Firm
• Limited Liability Partnership (LLP)
• Company
• Association of Persons (AOP)
• Body of Individuals (BOI)
• Local Authority
• Trust
• Non-Resident Indian (NRI)
• Registered Society

Important Things to Know Before Investing in Fixed Deposits

• Always compare tenure-wise FD interest rates of different banks before finalizing the bank for opening an FD account, in order to get maximum interest rate on selected tenure.
• The tenure for most bank fixed deposits varies from 7 days to 10 years. You should choose the FD Tenure according to your convenience and objective behind investment.
• Opt for interest payout options such as monthly or quarterly, if required. Otherwise, choose cumulative option so that you can receive lump sum amount when FD gets matured.
• You can also avail loan or overdraft against FD, if you have immediate requirement of funds.
• If your annual income is non-taxable, you can submit Form 15G or Form 15H in order to avoid TDS.
• Don't forget to make nomination in your FD account.
• If you are a senior citizen then open your FD in a bank which offers extra interest of 0.25% to 0.75% to senior citizens.
• When you open fixed deposit online or offline, do not forget to give instructions on what to do on maturity of your FD. If you do not give any instruction, your fixed deposit will be renewed automatically on maturity.

Calculation of Interest on FD of City Union Bank Limited

Interest on FD for different tenures is calculated in following manner:

1. Simple interest is paid at maturity for fixed deposit tenure of less than 6 months.
2. Interest is calculated on a quarterly basis for fixed deposit tenure of 6 months & above.
3. Cumulative Interest/ re-investment interest is calculated every quarter, and is added to the Principal such that Interest is paid on the Interest earned in the previous quarter as well.
4. In case of monthly deposit scheme, the interest shall be calculated for the quarter and paid monthly at discounted rate over the Standard FD Rate

City Union Bank Limited FD Interest Calculator

City Union Bank Limited FD Interest Calculator is an online financial tool that allows you to calculate the maturity value of your fixed deposit at the interest rate offered by bank. The amount of FD, interest rate, deposit tenure and compounding frequency of interest together determine the maturity amount of the FD at the end of the tenure.

Automatic Renewal of Bank FD

Bank FD matures on specific date. On maturity, if you have not given any specific instructions such as payout or renewal of FD, most of the banks automatically renew the FD for the same period for which it was initially made at the interest rate prevailing on the date of maturity of FD. This is called Automatic Renewal of Bank FD.

City Union Bank Fixed Deposit Rates

You should choose the option on the account opening form, if you do not want the bank to auto renew your FD. You have 2 options on the account opening form while depositing money in FD, first one is auto renew and second one is deposit of amount to your account after maturity. In case you have not mentioned any option on the account opening form then you will need to visit the bank branch on maturity day of your bank FD and opt for credit of the final proceeds of your bank FD into your savings account if you do not want an auto renewal of your FD.

Bank FD News Mar 2021

13-01-2020: SBI revised FD interest rate

SBI has announced a cut in retail fixed deposits of FD rates. The latest FD rates on SBI deposits is effective from 10th January 2020. The bank has cut the FD rates by 15 bps on long-term deposits maturing in 1 year to 10 years. Now FD interest rate for 7 to 45 days is 4.50%, for 46 to 179 days is 5.50%, for 180 days to 1 year is 5.80% and for 1 year to 10 years is 6.10%.

09-01-2020: Axis Bank reduced FD interest rate

Axis Bank reduced interest rates by up to 20 bps from January 9. FDs for less than Rs 2 crore and with the tenor of less than 1 year will earn 6.40%, for the tenor of 5 years to up to 10 years, FD rates is 6.50%.

07-01-2020: HDFC Bank deposits up by 25% (YoY) in 2019

The largest private sector lender HDFC Bank's deposits up by 25% (YoY) in 2019. Its deposits are at Rs 10.67 trillion as of December 31, 2019 growing by 25% as compared to Rs 8.52 trillion as of December 31, 2018..

24-12-2019: HDFC Bank revised FD interest rate

The revised rate for FDs maturing in 9 months 1 day to less than 1 year will be 6.05%. Term deposits maturing in 1 year to 2 years will fetch an interest rate of 6.3%, 2-3 years 6.40%, and 3 years to 10 years 6.3%.

01-12-2019: PNB cuts off FD rates

With effect from December 1, 2019, FDs for less than Rs 2 crore and the tenor of 271 days to below 1 year will be 6% for general customers and 6.5% for senior citizens. For the tenor of 5 years to up to 10 years, PNB has FD rates of 6.3% for general customers and 6.8% for senior citizens.

Union Bank Of India Fixed Deposit Rates

12-11-2019: ICICI Bank reduces FD interest rate

The interest rates on ICICI Bank FD for less than Rs 2 crore and the tenor of 185 days to 289 days will be 5.75%, for 5 years to up to 10 years will be 6.40% and 6.9% for senior citizens. Its interest rates will be effective from December 7, 2019.

Public Sector Banks FD Interest Rates

Private Sector Banks FD Interest Rates