The interest rates on Fixed deposits offered by union Bank of India are a bit disappointing if we compare them with what other banks have with them to offer us. Fortunately, the threshold in case of this bank is 5 crore (rather than 1 crore in most of the banks) from where the interest rates take a huge drop (interest rates are lower than the normal investment up to five years).

Check: Other banks Fixed deposit interest rates

For senior citizens the rate of interest varies because of an additional 0.75 percent which is fairly good in comparison with most of the banks which give 0.50 percent only. The highest of high rate of interest offered is 7.00% for an investment more than a year up to 10 years.

union bank of india fd ratesFor more than 5 crore it drops down to 6.80 percent flat as discussed for the same period (1-10 years). There seems absolutely no point in investing money for less than 3 months because you get decent 5.50 percent for 3 months and more. If you go for 91 days precisely, you get an extra 0.50 percent. Below interest rates are effective from 30 January, 2017.

Don’t Miss: Federal Bank Fixed deposit interest Rates

Union Bank of India Fixed Deposit Interest Rates 2017 (domestic):

Time PeriodInterest Rate For Amount Below 1 Crore Interest Rate For Amount 1-10 Crore
7 Days to 14 Days5.00%Contact Branch
15 Days to 30 Days5.00%
31 Days to 45 Days5.00%
46 Days to 60 Days5.50%
61 Days to 90 Days5.50%
90 Days to 120 Days6.25%
120 Days to 180 Days6.25%
180 Days7.00%
181 Days to 270 days7.00%
271 Days to 1 year7.00%
1 Year7.00%
1 Year to 2 Years6.80%
2 Years to 3 Years6.80%
3 Years to 5 Years6.80%
5 Years to 10 Years6.80%
Above 10 Years6.80%

Union Bank of India NRE fixed deposit interest rates 2017:

Maturity Period Below 1 Crore1 Crore to 10 Crore Above 10 Crore
 1 Year 7.00% 6.60% 6.60%
 1 Year to 3 Years 6.80% 6.40% 6.00%
 3 Years to 5 Years 6.80% 6.40% 6.00%
 5 Years to 10 Years 6.80% 6.40% 6.00%

Table Updated: 7 February, 2017

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From Table, you can observe for the period above one years union bank provides constant fixed deposit interest rates.

Important notes:

  • To deposit above 10 crore, you have visit nearest branch.
  • No interest will paid for closing deposits before 1 year in case of NRE deposits.

To get more details about union bank fixed deposit rates, please visit official website. check out more @ http://www.unionbankofindia.co.in/interest_rate.aspx

9 Comments

  1. I am retired senior citizen, I want to open FD for monthly income.
    amount rs. 2500000/- what will be the monthly interest. form 15-H is applicable for me so there is no TDS. Please reply. THANKS,

  2. We intend to invest funds under monthly / quarterly interest in fixed deposits. What are rates for senior citizens? Period of investment. We have savings bank account with Union Bank of India, J.V.P.D.Scheme branch.

  3. Very disappointing rates…Harassment in paying interest in fd accounts….Carelessness in work in public work…

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