Union Bank FD Scheme : Union Bank of India is a government-owned bank that operates under the Central Government. This year, the Reserve Bank of India (RBI) has reduced the repo rate by 1.00 percent, due to which many banks have also cut their fixed deposit (FD) interest rates. Following the repo rate cut, Union Bank of India also reduced its FD interest rates. However, despite the reduction, this public sector bank is still offering attractive returns on fixed deposits. Today, we will tell you about a scheme of Union Bank of India in which you can earn a guaranteed fixed interest of ₹42,525 by depositing ₹1 lakh.
Union Bank of India is offering FD interest up to 7.35 percent
At Union Bank of India, fixed deposits can be made for a minimum period of 7 days and a maximum period of 10 years. The bank is offering FD interest rates ranging from 3.40 percent to 7.35 percent. The highest interest rate is being offered on a 3-year FD scheme. On a 3-year FD, general citizens get 6.60 percent interest, senior citizens get 7.10 percent, and super senior citizens (above 80 years of age) get 7.35 percent interest.
Similarly, on a 5-year FD, Union Bank of India is offering 6.40 percent interest to general citizens, 6.90 percent to senior citizens, and 7.15 percent to super senior citizens.
Union Bank FD Scheme : Deposit ₹1,00,000 and get fixed interest of up to ₹42,525
If you are a general citizen and invest ₹1 lakh in a 5-year FD with Union Bank of India, you will receive a total of ₹1,37,365 at maturity, which includes ₹37,365 as fixed interest.
If you are a senior citizen and invest ₹1 lakh in a 5-year FD, you will receive a total of ₹1,42,525 at maturity, which includes ₹42,525 as fixed interest.
Similarly, if you are a super senior citizen, by depositing ₹1 lakh in a 5-year FD, you will receive a guaranteed fixed interest amount of ₹42,525 at maturity. It is important to note that under the FD scheme, you receive a guaranteed fixed return along with your principal amount at maturity.
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