Union Bank of India, a public sector bank has recently revised it fixed deposit (FD) interest rates for less than Rs 2 crore. The private-sector lender. Karnataka Bank has also revised its FD interest rate with effect from January 20, 2024.
Union Bank of India’s latest FD rates
Union Bank of India is offering an interest rate of 3.5% on an FD maturing between 7 days and 14 days. For an FD of tenure between 15 days and 30 days, the bank offers an interest rate of 3.5%. For FDs maturing between 31 days and 45 days, the interest rate offered by the bank is offering an interest rate of 3.5%. FDs maturing between 46 days and 90 days will fetch you an interest rate of 4.5%.
For FDs maturing between 91 days and 120 days, the interest rate will be 4.8%. For FDs maturing between 121 days and 180 days, the bank offers an interest rate of 4.9%. FDs maturing between 181 days to less than one year will get you an interest rate of 5.75%. FDs of one year tenure will get an interest rate of 6.75% in the Union Bank. FDs maturing between one year to less than 398 days will fetch an interest rate of 6.75%. FDs maturing in 399 days will get you an interest rate of 7.25%. FDs maturing between 400 days and less than 2 years, will get an interest rate of 6.5%.
Union Bank of India senior citizen FD rates: Latest rates
According to the Union Bank of India’s website, senior citizens get an additional interest rate of 0.5% on FDs of any given tenure. The highest interest rate offered to senior citizens is 7.75% on an FD maturing in 399 days. Super senior citizens (individuals aged above 80 years) however, get an additional interest rate of 0.75% on any tenure of FDs. The highest FD interest rate offered to super senior citizens is 8% on deposits maturing in 399 days.
Tenure | FD interest rate |
7-14 days | 3.50% |
15-30 days | 3.50% |
31-45 days | 3.50% |
46-90 days | 4.50% |
91-120 days | 4.80% |
121-180 days | 4.90% |
181 days to 1 year | 5.75% |
1 year | 6.75% |
>1 year to 398 Days | 6.75% |
399 days | 7.25% |
400 days to 2 year | 6.50% |
> 2 year to less than 3 Years | 6.50% |
3 years | 6.50% |
> 3 Year to 5 years | 6.50% |
>5 Years to 10 Years | 6.50% |
Source: Union Bank of India website
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Karnataka Bank’s latest FD rates
Karnataka Bank offers an interest rate of 3.5% on FDs maturing between 7 days and 45 days. For FDs maturing between 45 days and 90 days, the bank offers an interest rate of 3.5%. FDs maturing between 91 days and 179 days, will fetch an interest rate of 5.25%.FDs maturing in 180 days will get an interest rate of 6%. FDs maturing between 181 days and 269 days, will fetch an interest rate of 6%. FDs maturing between 270 days and less than 1 year, will offer an interest rate of 6.5%. FDs maturing between 1 year and less than 2 years will fetch you an interest rate of 6.95%. FD maturing in 375 days will get an interest rate of 7.1%. FDs maturing in 444 days will get you an interest rate of 7.25%. FDs maturing between two years and less than 5 years, will get an interest of 6.5%.
Tenure | FD interest rate |
7 days to 45 days | 3.50% |
46 days to 90 days | 4% |
91 days to 179 days | 5.25% |
180 days | 6% |
181 days to 269 days | 6% |
270 days to below 1 year | 6.50% |
1 year to 2 years | 6.95% |
375 days | 7.10% |
444 days | 7.25% |
Above 2 year to 5 years | 6.50% |
Above 5 year to 10 years | 5.80% |
Source: Karnataka Bank website
Karnataka Bank’s senior citizen FD: Latest rates
According to the Karnataka Bank website, senior citizens will get “0.40% extra over the general rate up to inclusive of Rs 5 crore only under Domestic FD and ACC Schemes (Not for deposit under NRE/NRO/FCNR(B) accounts) for resident Senior Citizens only for tenure of 1 to 5 years and 0.50% extra over the general rate for tenure of 5 to 10 years w.e.f. 09.11.2020.”
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The highest interest rate of 7.25% is offered on a senior citizen FD maturing in 444 days.
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