Union Bank of India has recently revised its interest rates on fixed deposits and now it offers a special interest of 7.4 percent to regular citizens on term deposits of 333-day tenure.
Senior citizens, meanwhile, are entitled to an extra 50 basis points i.e., 7.9 percent on the term deposit of same tenure, while super senior citizens are given an extra 75 basis points i.e., 8.15 percent per annum on the FD of same tenure.
Likewise, a fixed deposit of 399-day tenure offers an interest of 7.25 percent per annum to regular citizens. Senior citizens are entitled to 7.75 percent and super senior citizens are given 8.00 percent per annum on this fixed deposit.
Also, when the FD tenure is between 181 days to 332 days, the rate of interest is 6.35 percent. And on an FD of 121-180 tenure, the bank offers 5 percent interest per annum.
(Source: unionbankofindia.co.in)
When the FD is of 3-year-tenure, the state lender offers an interest of 6.70 percent to regular citizens, 7.20 percent to senior citizens and 7.45 percent to super senior citizens.
When the FD tenure is between 998 days to less than 3 years (except 999 days when interest rate is 6.4 percent), the bank offers 6.60 per cent to regular citizens. Senior citizens and super senior citizens are entitled to receive 7.10 percent and 7.35 percent, respectively.
On a tenure between 3-10 years, the bank offers 6.5 percent. These rates came into force on Aug 2, 2024.
Meanwhile, there are a number of other banks which offer a higher rate of interest on an FD of special tenure. For instance, Bank of Baroda offers 7.25 percent on 399-day FD.
Punjab National Bank offers 7.25 percent when the FD tenure is 400 days. The highest rate by HDFC Bank (7.40 percent) is offered on an FD of 55-month tenure.
