Union Bank The Government of India is offering an interest rate of 3 per cent on fixed deposits maturing between seven and 45 days. The interest rate offered for FDs maturing between 46 days and 90 days has been revised to 4.05 percent. After the latest revision, fixed deposits maturing between 91 days and 180 days will attract an interest of 4.10 per cent. The interest rate on FDs with tenor up to one year will be 5.35 percent.
The lender is offering an interest rate of 5.45 per cent for fixed deposits maturing between one year, one day and two years. The interest rate on FD for two years from one day to 749 days will be 5.50 percent.
Fixed deposits with a tenure of 750 days will now fetch an interest rate of 6.15 percent.
FD interest rates below Rs 2 crore:-
The interest rate for fixed deposits with tenors ranging from 751 days to three years will be 5.50 per cent. The bank is offering an interest rate of 5.75 per cent on fixed deposits maturing between three years, one day to five years. The interest on fixed deposits maturing after five years has been revised to 6.20 per cent. The interest rate for FDs with tenures ranging from five years one day to 10 years will be 5.80 per cent.
According to the bank’s website, Union Bank calculates the interest rate for fixed deposits and credits quarterly in the months of April, July, October and January every year.
With the back-to-back repo rate hike by the Reserve Bank of India (RBI) from May 2022, banks have started increasing the interest rates payable on fixed deposits.