Union Bank FD Interest Rates 2024

Introduction:

Union Bank of India extends FD rates ranging from 3.00% to 7.25% p.a. for the general public and 3.50% to 7.75% p.a. for senior citizens across tenures spanning from 7 days to 10 years. Tax Saving FDs with Union Bank of India yield interest at 6.50% p.a. for the general public and 7.00% p.a. for senior citizen depositors, available for tenures of 5 to 10 years. Additionally, the bank provides various fixed deposit options tailored for NRIs, including NRO, NRE, RFC, and FCNR (B) fixed deposits, which accept currencies such as British Pound Sterling (GBP), Euro (EUR), Japanese Yen (JPY), Canadian Dollar (CAD), and Australian Dollar (AUD).

Explore union bank fd interest rates 2024:

Here are the key highlights of Union Bank of India FD Interest Rates:

– Highest slab rate: 7.25% (applicable for 399 days)

– 1-year FD: 6.75%

– 2-year FD: 6.50%

– 3-year FD: 6.50%

– 4-year FD: 6.50%

– 5-year FD: 6.50%

– Tax-Saving FD: 6.50%

Domestic/NRO deposits below Rs 2 crore effective from April 25, 2024:

| Tenure | Regular Citizens (% p.a.) | Senior Citizens (% p.a.) |

|——————–—|—————-——————-|————————-——|

| 7 days to 14 days | 3.50 | 4.00 |

| 15 days to 30 days | 3.50 | 4.00 |

| 31 days to 45 days | 3.50 | 4.00 |

| 46 days to 90 days | 4.50 | 5.00 |

| 91 days to 120 days | 4.80 | 5.30 |

This table outlines the interest rates offered by Union Bank of India for various tenures, distinguishing between rates for regular citizens and senior citizens.

Union Bank of India offers a Tax Saver Fixed Deposit with the following interest rates (% p.a.):

– Regular Citizens: 6.50%

– Senior Citizens: 7.00%

Note: This scheme has a tenure ranging from 5 years to 10 years.

Starting from April 25, 2024, the Union Bank of India offers fixed deposit interest rates for NRE deposits below Rs 2 crore:

| Tenure                     | Interest Rates (% p.a.)    

|————————————–|——————- |

| 1 year                                | 6.75           |

| Above 1 year to 398 days      | 6.75           |

| 399 days                             | 7.25           |

| 400 days to 2 years                 | 6.50          |

| Above 2 years to 998 days     | 6.50          |

| 999 days                              | 6.40        |

| Above 1000 days to < 3 years | 6.50         |

| 3 years                              | 6.50        |

| Above 3 years to 5 years         | 6.50         |

| Above 5 years to 10 years       | 6.50        |

Effective from January 17, 2024, Union Bank’s FCNR (B) deposit rates are as follows:

| Tenure                           | $ < 5 lakh| | $ ≥ 5 lakh | GBP   | EUR    | JPY  | CAD     | AUD  |

|————————————|———–|——-|——-|——-|——-|——-|

| 1 year to < 2 years       | 5.35%        | 5.60%        | 5.05%| 3.00%| 0.01%| 4.55%| 3.75%|

| 2 years to < 3 years     | 4.30%        | 4.30%      | 3.00%| 2.05%| 0.01%| 3.61%| 3.50%|

| 3 years to < 4 years     | 4.05%        | 4.05%      | 2.50%| 1.55%| 0.01%| 3.31%| 3.00%|

| 4 years to < 5 years     | 3.80%        | 3.80%      | 2.50%| 1.55%| 0.01%| 3.26%| 3.00%|

| 5 years only                  | 3.80%        | 3.80%        | 2.50%| 1.55%| 0.01%| 3.26%| 3.00%|

Union Bank of India Fixed Deposit Rates for RFC deposits effective from January 17, 2024:

| Tenure                       | Interest Rates (% p.a.) |

|———————————–|——————————————————-—–|

| USD < 5 lakh                | USD ≥ 5 lakh     |  GBP    | EUR   | JPY     | CAD     | AUD  |

|———————————–|—————–|——–|——-|—-—-|——–|———-|

| 6 months to < 1 year  | 5.35%                | 5.60% | 5.05% | 3.00% | 0.01% | 4.55%   |

| 1 year to < 2 years      | 5.35%                | 5.60% | 5.05% | 3.00% | 0.01% | 4.55%   |

| 2 years to < 3 years    | 4.30%                | 4.30% | 3.00% | 2.05% | 0.01% | 3.61%   |

| 3 years                          | 4.05%                | 4.05% | 2.50% | 1.55% | 0.01% | 3.31% |

• Union Bank of India Credit Cards Against FD:

UNI CARBON:

– Card Limit: Up to 75% of FD

– Joining Fee: Rs 499

– Annual Fee: Rs 499 (Main Card), Rs 199 (Add-on Card)

– Add-on Card Fee: Rs 300

– Finance Charges: Up to 41.75% p.a.

RuPay Platinum:

– Card Limit: Up to 75% of FD

– Joining Fee: Not applicable

– Annual Fee: Rs 299 (Main Card), Rs 199 (Add-on Card)

– Add-on Card Fee: Rs 300

– Finance Charges: Up to 41.75% p.a.

RuPay Select:

– Card Limit: Up to 75% of FD

– Joining Fee: Rs 499

– Annual Fee: Rs 299 (Main Card), Rs 199 (Add-on Card)

– Add-on Card Fee: Rs 300

– Finance Charges: Up to 41.75% p.a.

VISA Gold:

– Card Limit: Up to 75% of FD

– Joining Fee: Not applicable

– Annual Fee: Rs 299 (Main Card), Rs 199 (Add-on Card)

– Add-on Card Fee: Rs 300

– Finance Charges: Up to 41.75% p.a.

VISA Platinum:

– Card Limit: Up to 75% of FD

– Joining Fee: Not applicable

– Annual Fee: Rs 399 (Main Card), Rs 299 (Add-on Card)

– Add-on Card Fee: Rs 300

– Finance Charges: Up to 41.75% p.a.

VISA Signature:

– Card Limit: Up to 75% of FD

– Joining Fee: Not applicable

– Annual Fee: Rs 1,999 (Main Card), Rs 999 (Add-on Card)

– Add-on Card Fee: Rs 300

– Finance Charges: Up to 41.75% p.a.

Types Of Union Bank FD Schemes:

Union Bank of India offers various Fixed Deposit (FD) schemes that meet different needs and preferences of its customers. Here are some of them.

1. Regular Fixed Deposit: This is the standard FD scheme that comes with fixed tenures and interest rates for the deposit of lump sum amounts. The interest rates may vary depending on the deposit amount and tenure chosen.
2. Tax-Saver Fixed Deposit: This scheme allows customers to save on taxes by investing in FDs for a specified lock-in period, typically five years. The investments made under this scheme are tax deductible under Section 80 C of the Income Tax Act.
3. Senior Citizen Fixed Deposit: Union Bank offers special FD schemes for senior citizens, providing them with higher interest rates compared to regular FDs. Senior citizens can enjoy additional benefits and preferential interest rates under this scheme.
4. NRI Fixed Deposit: Union Bank provides FD schemes specifically designed for Non-Resident Indians (NRIs) to help them manage their finances effectively. These schemes include NRE (Non-Resident External), NRO (Non-Resident Ordinary), and FCNR (Foreign Currency Non-Resident) deposits, allowing NRIs to deposit funds in foreign currency or Indian rupees.
5. Monthly Income Scheme: This scheme is suitable for individuals seeking regular income from their investments. Under this scheme, the interest earned on the FD is paid out to the depositor on a monthly basis, providing a steady source of income.
6. Quarterly Income Scheme: Similar to the Monthly Income Scheme, this scheme offers quarterly interest payouts to the depositor, providing them with a regular income stream.
7. Short-Term Deposit: Union Bank also offers short-term FD schemes for customers who prefer to invest their funds for a shorter duration. These schemes typically have tenures ranging from a few days to a few months.

Conclusion:

Union Bank of India offers a wide range of Fixed Deposit (FD) schemes catering to diverse financial needs. Whether you’re looking for a regular FD, tax-saving option, or preferential rates for senior citizens, Union Bank has you covered. Additionally, NRIs can benefit from specialized FD schemes tailored to their requirements. Explore Union Bank’s FD interest rates for 2024 and choose the scheme that aligns with your financial goals. Start investing today to secure your future with attractive returns.

Ready to invest?

While FDs provide stability, Tap Invest offers innovative investment opportunities like invoice discounting, providing potentially higher returns. Take the next step towards maximizing your investment potential by signing up on Tap Invest today.

FAQs For Union Bank FD Interest Rates 2024:

1. What are the interest rates offered by Union Bank of India for fixed deposits in 2024?

   – Union Bank offers interest rates ranging from 3.00% to 7.25% p.a. for regular citizens and 3.50% to 7.75% p.a. for senior citizens across various tenures.

2. Are there any special FD schemes for senior citizens with Union Bank?

   – Yes, Union Bank provides special FD schemes for senior citizens with higher interest rates compared to regular FDs.

3. Can NRIs invest in fixed deposits with Union Bank of India?

   – Yes, NRIs can invest in various FD schemes tailored for them, including NRE, NRO, RFC, and FCNR (B) fixed deposits.

4. What is the highest interest rate offered by Union Bank for fixed deposits?

   – The highest slab rate offered by Union Bank is 7.25% p.a., applicable for a tenure of 399 days.

5. Are there any tax-saving fixed deposit options available with Union Bank?

   – Yes, Union Bank offers tax-saving FDs with attractive interest rates for both regular citizens and senior citizens, eligible for tax deductions under Section 80C of the Income Tax Act.

6. Does Union Bank offer credit cards against FDs?

   – Yes, Union Bank provides credit cards against FDs with various benefits and features tailored to different customer needs.

7. What are the different types of FD schemes offered by Union Bank?

   – Union Bank offers a range of FD schemes including regular FDs, tax-saving FDs, senior citizen FDs, NRI FDs, monthly income schemes, quarterly income schemes, and short-term deposits.

8. How can I start investing in fixed deposits with Union Bank?

   – You can start investing in Union Bank FDs by visiting your nearest branch or through online banking facilities provided by the bank.