look news india
FD Interest Rate: Union Bank of India recently revised its interest rates on fixed deposits and now offers a special interest of 7.4 per cent to regular citizens on 333-day tenure fixed deposits.
Meanwhile, senior citizens get an additional 50 basis points, i.e., an interest rate of 7.9 per cent per annum on fixed deposits of the same tenure, while super senior citizens get an additional 75 basis points, i.e., an interest rate of 8.15 per cent per annum on fixed deposits of the same tenure.
Similarly, ordinary citizens get 7.25 percent interest per annum on fixed deposits with a duration of 399 days. Senior citizens get 7.75 percent interest per annum and super senior citizens get 8.00 percent interest per annum on this fixed deposit.
Further, when the FD tenure is between 181 days to 332 days, the interest rate is 6.35 percent. And on FDs of 121-180 tenure, the bank gives 5 percent annual interest.
| Day | Regular Citizens (%) | senior (%) | Super Senior (%) |
| 333 | 7.4 | 7.9 | 8.15 |
| 399 | 7.25 | 7.75 | 8.00 |
| 999 | 6.4 | 6.9 | 7.15 |
When the FD is for a tenure of 3 years, the state lender offers 6.70 per cent interest to regular citizens, 7.20 per cent to senior citizens, and 7.45 per cent to very senior citizens.
When the FD tenure is between 998 days to less than 3 years (except for 999 days when the interest rate is 6.4 per cent), the bank offers 6.60 per cent interest to regular citizens. Senior citizens and super senior citizens are entitled to 7.10 per cent and 7.35 per cent interest, respectively.
The bank is offering 6.5 percent interest rate for a tenure of 3-10 years. These rates will be applicable from August 2, 2024.
Meanwhile, there are many other banks that offer higher interest rates on special term FDs. For example, Bank of Baroda offers 7.25 percent interest on 399 day FDs.
Punjab National Bank is offering 7.25 per cent interest on FDs with a tenure of 400 days. HDFC Bank (7.40 per cent) is offering the highest interest on FDs with a tenure of 55 months.
