Union Bank is a popular nationalised bank in India with millions of customers across the country. Recently, Union Bank has announced an increase in the interest rates for fixed deposits (FDs) under ₹2 crore. As per the official website of Union Bank, the interest rates would become effective from October 17, 2022. Moreover, senior citizens will get an additional 0.5% over and above the regular FD interest rates that have just been raised.
Updated Interest Rates For Union Bank Fixed Deposits
Let's take a look at the newly increased interest rates for Union Bank fixed deposits that are applicable from October 17, 2022:
FDs ranging from 7 days to 14 days: The interest rate has been increased to 3.00% per annum. For senior citizens, the interest rate has been updated to 3.50% per annum, for the same tenure.
For FDs ranging from 15 days to 30 days: The interest rate has been increased to 3.00% per annum. As for senior citizens, the interest rate has been increased to 3.50% per annum for the same tenure.
For FDs ranging from 31 days to 45 days: The interest rate for FDs has been increased to 3.00% per annum. As for senior citizens, the interest rate has been updated to 3.50% per annum for the same tenure.
For FDs ranging from 46 days to 90 days: The interest rate for FDs has been updated to 4.05% per annum. As for senior citizens, the interest rate has been updated to 4.55% for the same FD tenure.
For FDs ranging from 91 days to 120 days: The interest rate for FDs has been increased to 4.30%. For senior citizens, the FD interest rate has been increased to 4.80% for the same tenure.
For FDs ranging from 121 days to 180 days: The interest rate for FDs has been increased to 4.40% As for senior citizens, the interest rate for FDs of the same tenure has been increased to 4.90%.
For FDs of exactly 1-year duration: The interest rate has been updated to 6.30% per annum for regular FDs. As for senior citizen FDs, the interest rate has been increased to 6.80% per annum for the same tenure.
For FDs ranging from 1 year to 443 days: The interest rate has been updated to 6.60% per annum for regular FDs. For senior citizen FDs, the interest rate has been increased to 7.10% per annum for the same tenure.
For FDs of exactly 444 days: The interest rate has been updated to 6.70% per annum for regular FDs. As for senior citizen FDs, the interest rate has been increased to 7.20% per annum for the same tenure.
For FDs ranging from 445 days to 599 days: The interest rate for FDs has been increased to 6.60%. For senior citizens, the FD interest rate has been increased to 7.10% for the same tenure.
For FDs of exactly 599 days: The interest rate has been updated to 7% per annum for regular FDs. As for senior citizen FDs, the interest rate has been increased to 7.50% per annum for the same tenure.
For FDs ranging from 600 days to 2 years: The interest rate for FDs has been increased to 6.60% As for senior citizens, the interest rate for FDs of the same tenure has been increased to 7.10%.
For FDs ranging from more than 2 years to 3 years: The interest rate has been updated to 6.70% per annum for regular FDs. As for senior citizen FDs, the interest rate has been increased to 7.20% per annum for the same tenure.
For FDs ranging from more than 3 years to 5 years: The interest rate has been updated to 6.70% per annum for regular FDs. As for senior citizen FDs, the interest rate has been increased to 7.20% per annum for the same tenure.
For FDs ranging from more than 5 years to 10 years: The interest rate has been updated to 6.70% per annum for regular FDs. For senior citizen FDs, the interest rate has been increased to 7.20% per annum for the same tenure.
Disclaimer: The interest rates mentioned in this article are recorded at the time of writing and are subject to change. BQPrime does not endorse any of the FDs mentioned above. Please invest at your own discretion.
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