Earn up to 8% FD interest rate: Union Bank of India revises fixed deposit rates

The Union Bank of India has revised the interest rates on its fixed deposits (FDs) for amounts less than Rs 2 crore. According to the Union Bank website, the new interest rates are effective June 1, 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 will get an interest rate of 6.25 per cent.

The bank is offering an interest rate of 6.75 per cent for fixed deposits maturing between one year to 398 days. 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 will be 6.50 percent. The bank offers 6.40 percent interest on 999 days tenure. The fixed deposits with a tenure 1000 days to 10 years, will now fetch an interest rate of 6.50 per cent.

Latest FD rates

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 percent higher interest rate for super senior citizens. The highest interest rate offered is 8 percent on the tenure of 399 days.According to the 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.”