The Central Bank of India provides the interest rates such that they highly differ from one another according to their terms. The best to go term is 1-2 years. This term provides the maximum interest rates 8.00 percent.
The rates offered in other cases are also fine enough say for over two years a maximum of 8.00 percent and a mere 7.75 percent for less than a year.
For Union Bank of India: Union Bank of India Fixed Deposit interest rates
The interest rates for this financial instrument are more than savings account rates but they lack in providing liquidity. Although one can have loan on them but one cannot withdraw whatever amount they like whenever they want. Here is detail information on Central bank of India Fixed deposit interest rates.
Central Bank of India Fixed deposit interest rates in detail:
|TIME PERIOD||INTEREST RATES|
|For Deposits Below 1 Crore||For Deposits Above 1 Crore|
|7 – 14 Days||5.00||5.00|
|15 – 30 Days||5.50||5.50|
|31 – 45 Days||5.50||5.50|
|46 – 60 Days||7.00||7.00|
|61 – 90 Days||7.00||7.00|
|91 Days – 180 Days||7.35||7.25|
|181 Days – 270 days||7.75||7.25|
|271 Days – 1 year||7.75||7.25|
|1 Year – 2 Years||8.00||7.50|
|2 Years – 3 Years||8.00||7.50|
|3 Years – 5 Years||8.00||7.50|
|5 Years – 10 Years||8.00||7.25|
|Above 10 Years||8.00||7.25|
Note: additional .50% rate for senior citizens.
From table you can see, Central Bank of India provides good interest rates for time interval 1 to 2 years which is quite similar to state bank of India interest rates.
Updated: 8 October, 2015
Check out more details at @https://www.centralbankofindia.co.in/Site/Interest.aspx