Government-owned, Union Bank of India has revised its fastened deposits and financial savings account rates of interest. The FD charges are relevant for deposits under ₹2 crore providing a most 5.8% rate of interest, whereas the financial savings stability has the best charge of three.55%. The new charges have come into impact from June 16.
FDs under ₹2 crore:
Union Bank provides a 3% rate of interest on tenures from 7 days to 45 days, whereas a 4.05% charge is relevant on FDs maturing 46 -90 Days. Meanwhile, a 4.10% charge is obtainable on tenures beginning 91 days to 180 days.
A depositor can earn a 4.60% rate of interest on FDs maturing 181 Days to lower than 1 Year, whereas 5.35% is obtainable on 1-year tenure.
The financial institution provides a 5.45% charge on FDs above 1 yr to 2 years, and a charge of 5.50% is relevant on tenure above 2 years to three years.
An rate of interest of 5.75% is relevant on above 3 years to five years tenure. The highest charge of 5.80% is accessible on 5 years to 10 years tenure.
According to Union Bank’s web site, the combination worth of deposits positioned by a depositor on the day no matter the tenor of the deposit will probably be taken for deciding relevant curiosity.
Saving deposits:
From June 16, Union Bank provides 2.75% on financial savings stability as much as ₹50 lakh, whereas 2.90% is obtainable between ₹50 to ₹100 crore.
An rate of interest of three.10% is relevant on financial savings stability above ₹100 crore to ₹500 crore, and an rate of interest of three.40% is given on stability above ₹500 crore to ₹1,000 crore.
Savings stability above ₹1,000 crore, the rate of interest is 3.55%.
Interest in a financial savings account is calculated on a every day product foundation and is credited quarterly in April, July, October, and January yearly.
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