The Union Bank of India has increased fixed deposit (FD) interest rates by up to 20 basis points (bps) on certain tenures for amounts less than Rs 3 crore. According to the Union Bank website, the new interest rates are effective from July 5, 2024.
Get up to 8.5% FD rate: SBI vs HDFC Bank vs ICICI Bank vs Canara Bank vs PNB; Latest fixed deposit interest rates in July 2024
Latest Union Bank of India FD interest rates
Union Bank of India is offering an interest rate of 3.5 per cent on fixed deposits maturing between seven to 45 days. The interest rate offered for FDs between 46 days to 90 days now offers 4.50 per cent. The fixed deposits maturing between 91 days to 180 days, will fetch an interest of 4.80 per cent.
For FDs with a tenure of 181 Days to less than 1 year, the bank has increased FD interest rate by 10 basis points (bps) from 6.25 per cent to 6.35 per cent. The bank has increased 5 bps on one year to 398 Days tenure from 6.75 per cent to 6.80 per cent.
The bank is offering 7.25 percent on tenure of 399 days.
For FDs ranging from 400 Days to less than 998 days, the interest rate is hiked from 6.50 per cent to 6.60 per cent. For days more than 998 days to less than 3 Years (except for 999 days at 6.40), the bank now offers 6.60 per cent.On three years tenure, the bank has increased FD interest rate by 20 bps from 6.50 per cent to 6.70 per cent. The fixed deposits with a tenure 3 years to 10 years, will now fetch an interest rate of 6.50 per cent.
Period | Rates in % per annum |
Rs. 3 Cr | |
7-14 Days | 3.5 |
15-30 Days | 3.5 |
31-45 Days | 3.5 |
46-90 Days | 4.5 |
91-120 Days | 4.8 |
121-180 Days | 5 |
181 Days to 1 year | 6.35 |
1 year | 6.8 |
>1 year to 398 Days | 6.8 |
399 Days | 7.25 |
400 Days to 2 year | 6.6 |
> 2 year to 996 days | 6.6 |
997 days | 6.4 |
>998 days to less than 3 Years (except for 999 days @ 6.40) | 6.6 |
3 years | 6.7 |
> 3 Year to 5 years | 6.5 |
>5 Years to 10 Years | 6.5 |
Senior Citizens FD rates
Senior citizens are eligible for the additional rate component of 0.50% over and above the normal rates. So, the highest interest rate offered for senior citizen is 7.75 percent on tenure of 399 days.
Super senior citizen FD rates
The bank offers 0.75 per cent higher interest rate for super senior citizens. The highest interest rate offered is 8 per cent on the tenure of 399 days.
Union Bank savings account interest rate
Union Bank of India has revised savings account interest rate and new rates are effective from June 21, 2024.
Credit Balance | Interest Rate (annual) |
Up to Rs.50 Lakh | 2.75% |
> Rs.50 Lakh to Rs.100 Crore | 2.90% |
> Rs.100 Crore to Rs.500 Crore | 3.10% |
> Rs.500 Crore to Rs.1000 Crore | 3.40% |
> Rs.1000 Crores to Rs.1500 Crores | 4.10% |
> Rs.1500 Crores to Rs.2000 Crores | 4.15% |
Above RS.2000 Crores | 4.20% |