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


Union Bank of India recently revised the interest rates of its fixed deposits (FDs) worth less than Rs 2 crore. The new interest rates are effective from September 14, 2022, according to the Union Bank website.

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 and 90 days, has been revised to 4.05 per cent. The fixed deposits maturing between 91 days and 180 days, will fetch an interest of 4.10 per cent, after the latest revision. For FDs with a tenure of up to one year, the interest rate will be 5.35 per cent.

The lender is offering an interest rate of 5.45 per cent for fixed deposits maturing between one year one day and two years. For FDs ranging from two years one day to 749 days, the interest rate will be 5.50 per cent.

The fixed deposits with a tenure of 750 days, will now fetch an interest rate of 6.15 per cent.


FD interest rates for less than Rs 2 crore:-



For fixed deposits with a tenure ranging from 751 days to three years, the interest rate will be 5.50 per cent. The bank is offering an interest rate of 5.75 per cent for fixed deposits maturing between three years one day to five years. The interest for fixed deposits maturing after five years has been revised to 6.20 per cent. For FDs with a tenure of five years one day to 10 years, the interest rate will be 5.80 per cent.

According to the bank’s website, Union Bank calculates the interest rate for fixed deposits daily and credits quarterly in the months of April, July, October, and January every year.

With back-to-back repo rate hikes by the Reserve Bank of India (RBI) since May 2022, banks have started hiking interest rates payable on fixed deposits.



Source link

Related Articles

Leave a Reply

Stay Connected

999FansLike
777FollowersFollow
- Advertisement -spot_img

Latest Articles

%d bloggers like this: