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Interest Rates - Deposits
Effective interest rates (Rates in % per annum) from 05th July 2024 | |||||||||||||||||||||||||||||||||||||
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Union Bank of India offers an additional rate component to resident senior and super senior citizens on term deposits up to Rs. 5.00 Crores in all of its domestic term deposits scheme. The additional rate component, applicable to resident senior citizen deposits is 0.50% over and above the normal rates displayed above. The additional rate component applicable to resident super senior citizens is 0.75% over and above the normal rate displayed above (0.25% over and above rate applicable to resident senior citizen). The additional rate on super senior term deposits would be applicable for the term deposits opened/renewed on or after 01.12.2022.
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The interest is calculated on a daily basis and is credited on a quarterly basis every year in the months of April, July, October and January. | |||||||||||||||||||||||||||||||||||||
W.e.f. 21.06.2024 Savings Bank Deposit rates will be as under : |
Credit Balance |
Interest Rate (annual) |
Up to Rs.50 Lakh |
2.75% |
> Rs.50 Lakh to Rs.100 Crore |
2.90% |
> Rs.100 Crore to Rs.500 Crore |
3.10% |
> Rs.500 Crore to Rs.1000 Crore |
3.40% |
> Rs.1000 Crores to Rs.1500 Crores |
4.10% |
> Rs.1500 Crores to Rs.2000 Crores |
4.15% |
Above RS.2000 Crores |
4.20% |
Interest will be calculated on daily product basis and will be credited every year on quarterly basis in the months of April, July, October and January.
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