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Effective interest rates (Rates in % per annum) from 23.05.2023

Period

Rates in % per annum

< Rs. 2 Cr

7-14 Days

3.00

15-30 Days

3.00

31-45 Days

3.00

46-90 Days

4.05

91-120 Days

4.30

121-180 Days

4.40

181 Days to < 1 year

5.25

1 year

6.30

>1 year to 398 Days

6.30

399 Days

7.00

400 Days to 2 year

6.30

> 2 year to less than 3 years

6.30

3 years

6.50

> 3 Year to 5 years

6.70

>5 Years to 10 Years

6.70

 

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.


  • Interest rates are subject to change. Therefore the depositor website will ensure the rates up to the date of deposit.
  • The aggregate value deposited by a depositor for a similar period of time shall be taken into account for determining the applicable rate of interest..
  • Click here for Bulk Deposit rates for 2cr and above
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. 20.11.2023 Savings Bank Deposit rates will be as under :

credit balance

interest rate (annual)

Up to Rs.50 Lakh

2.75%

> Rs.50 lakh Rs.100 crore

2.90%

> Rs.100 crore Rs.500 crore

3.10%

> Rs.500 crore Rs.1000 crore

3.40%

Above RS 1000 crores

4.00%

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.