Union Bank of India revises FD interest rates: Check latest rates

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Union Bank of India recently revised the interest rates of its fixed deposits (FDs) for amounts less than Rs 2 crore. The new interest rates are effective from May 23, 2023, according to the Union Bank website.

Latest Union Bank of India FD interest rates

Union Bank of India is offering an interest rate of 3 per cent on fixed deposits maturing between seven to 45 days. The interest rate offered for FDs maturing between 46 days to 90 days, is now offering 4.05 per cent. The fixed deposits maturing between 91 days to 180 days, will fetch an interest of 4.30 per cent. For FDs with a tenure of 181 Days to less than 1 year will get an interest rate of 5.35 per cent.

The bank is offering an interest rate of 6.30 per cent for fixed deposits maturing between one year to 398 days. The bank is offering 7% on tenure of 399 days. . For FDs ranging from 400 Days to less than 3 years, the interest rate will be 6.30 per cent.

The fixed deposits with a tenure of 3 years, will now fetch an interest rate of 6.50 per cent and 6.70% on tenures ranging from 3 years to 10 years.

Period Rates in % per annum
< Rs. 2 Cr
7-14 Days 3
15-30 Days 3
31-45 Days 3
46-90 Days 4.05
91-120 Days 4.3
121-180 Days 4.4
181 Days to < 1 year 5.25
1 year 6.3
>1 year to 398 Days 6.3
399 Days 7
400 Days to 2 year 6.3
> 2 year to less than 3 years 6.3
3 years 6.5
> 3 Year to 5 years 6.7
>5 Years to 10 Years 6.7
Source: Bank website

Senior citizen FD interest rate
Senior citizen deposits will earn 0.50% over and above the normal rates displayed above. The highest interest rate offered to senior citizens is 7.50 per cent on tenure of 399 days.

Super senior citizen FD interest rate
According to the Union Bank of India website, “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.” The highest interest rate offered to super senior citizens is 7.75 per cent on tenure of 399 days.

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