The City Union Bank offers a decent interest rate for both normal and senior citizens for domestic deposit of amount about Rs. 1 Crore. However, the senior citizens can grab the maximum interest rate of 7.50% for the domestic deposit of the same amount ( Rs. 1 Crore) for a period of 1 year. Normal people can enjoy 7.35% for the same case.
The interest rate for domestic deposit of amount above 1 Crore for general people is 7.35%, at the maximum maturity period of 5 years to about 10 years.
Tax saver fixed deposit:
City Union Bank also offers Tax Saver Fixed Deposit of amount about 1 lakh per financial year, and the interest rate would be 7.50% for the normal people. Interest would be 7.50% for the above case for senior citizens. The below rates are effective from 9 January 2019
City Union Bank Fixed Deposit Interest Rates Feb 2019 (Domestic/NRO Deposits):
|Time Period||Interest Rates ( Normal )|
|Interest Rate (Senior citizens)|
|7 Days to 14 Days||6.25%||6.25%|
|15 Days to 30 Days||6.25%||6.25%|
|31 Days to 45 Days||6.25%||6.25%|
|46 Days to 60 Days||6.25%||6.25%|
|61 Days to 90 Days||6.25%||6.25%|
|91 Days to 180 Days||6.75%||6.75%|
|271 Days to 1 Year||7.00%||7.00%|
|1 Year to 1.5 Year||7.35%||7.50%|
|1 Year to 2 Years||7.35%||7.50%|
|2 Years to 3 Years||7.35%||7.50%|
|3 Years to 5 Years||7.35%||7.50%|
|5 Years to 10 Years||6.70%||6.95%|
If you are going with NRE Fixed Deposit, then for an amount of 1 Crore, the maximum interest rate would be 7.35% for a maturity period of 1 year. In the above case, the interest becomes 6.70% where the maturity period is 5 years up to 10 years.
City Union Bank NRE Term Deposit rates Feb 2019:
|PERIOD||Rate of Interest|
|1 Year to 5 years||7.35%|
|5 Years to 10 Years||6.70%|
Updated: 2 February 2019
- The rate of interest will be 4% p.a. for both domestic and NRE saving accounts.
- 1% penalty will be charged for closing deposits before maturity time.
- Age of senior citizens should be above 60 years.
- Senior citizen rates are not applicable to NRE Deposits
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However, it is recommended to visit the official website for having complete detail about the interest rates.
Check out more detail @ http://www.cityunionbank.com/english/deposit.aspx