Union Bank of India and RBL Bank have revised their fixed deposit (FD) interest rates for deposits less than Rs 3 crore, with the new rates taking effect from April 25, 2025. Union Bank has kept its savings account interest rates unchanged. And RBL Bank has slashed savings account interest rates by up to 100 basis points for certain balance slabs, effective May 1, 2025.
Union Bank of India FD interest rates
After revision, the Union Bank of India offers FD interest rate between 3% and 7.15% for general citizens with tenure ranging from 7 days to 10 years for amounts less than Rs 3 crore. For senior citizens, the bank offers FD interest rate between 3.50% and 7.55%. For super senior citizens, the bank offers higher FD interest rates between 3.75% and 7.85%. The highest interest rate is offered on a tenure of 45 days.
Also read: Ujjivan Small Finance Bank cuts FD rates by up to 20 bps, senior citizens can still get 8.55% interest on fixed deposits
According to the Union Bank of India website, “The additional rate component, applicable to resident senior citizen deposits is 0.50% over and above the normal rates displayed above. The additional rate component applicable to resident super senior citizens is 0.75% over and above the normal rate displayed above (0.25% over and above rate applicable to resident senior citizen). The additional rate on super senior term deposits would be applicable for the term deposits opened/renewed on or after 01.12.2022.”
| Effective interest rates (Rates in % per annum) from 25th April 2025 | |
| 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 | 6.25* |
| 1 year | 6.75* |
| >1 year to 398 Days | 6.75* |
| 399 Days | 6.75* |
| 400 days | 6.90* |
| 401 days to 455 days | 6.6 |
| 456 days | 7.15* |
| 457 days to 2 years | 6.6 |
| > 2 year to 996 days | 6.6 |
| 997 days | 6.4 |
| >998 days to less than 3 Years | 6.6 |
| 3 years | 6.7 |
| > 3 Year to 5 years | 6.5 |
| >5 Years to 10 Years | 6.5 |
RBL Bank FD interest rate
After revision, RBL Bank offers FD interest rate between 3.5% and 7.75% for general citizens on FD tenures ranging from 7 days to 10 years for amounts below Rs 3 crore. For senior citizens, the bank offers FD interest rate between 4% and 8.25%. For super senior citizens, the bank offers higher FD interest rates between 4.25% and 8.50%. The highest FD interest rate of 7.75% and 8.25% for senior citizens is offered on a tenure of 500 days.
Also read: Fixed deposit rates slashed: Kotak and Axis Bank cut FD rates for second time in April 2025
The bank offers an additional FD interest rate of 0.50% for senior citizens and 0.75% for super senior citizens.
RBL savings account interest rate
RBL Bank has reduced savings account interest rate by up to 100 basis point on select balance slabs. The revised rates are effective from May 1, 2025. Check details in the table below:
