Union Financial institution of India has revised its mounted deposit rates of interest with impact from right this moment. The financial institution now gives a return of seven.3 per cent for most of the people whereas an extra rate of interest is payable to senior residents. The mounted deposit rates of interest by the Union Financial institution of India now begin from 3 per cent and go as much as 7.3 per cent relying on the tenure.
Union Financial institution now gives a return of three per cent for mounted deposits with a maturity tenure of seven days to 45 days, 4.05 per cent for FDs with 46-90 days tenure, 4.3 per cent for 91-120 days tenure, 4.4 per cent for 121-180 days tenure and 5.25 per cent for 181 days to lower than one 12 months tenure. Fastened deposits for the tenure of 1 12 months to 799 days (apart from 599 days and 700 days) will get a return of 6.3 per cent whereas that for 599 days will earn an curiosity of seven per cent and that for 700 days will earn a return of seven.25 per cent.
Union Financial institution mounted deposits for 800 days will get a return of seven.3 per cent and FDs for 801 days to lower than three years will get an curiosity of seven.3 per cent. Fastened deposits for 3 years to 10 years will earn a return of 6.7 per cent.
The financial institution is providing an extra price of 0.5 per cent for senior residents. “Union Financial institution gives an extra price part (over and above the traditional rate of interest relevant) to Resident Senior Citizen on time period deposit as much as Rs 5 crores in all of its home time period deposit schemes. For the speed of curiosity of time period deposits for Rs 2 crores and above, please contact the closest department of our Financial institution. This extra price part is relevant to home time period deposits and is above 0.50% over the traditional price,” the financial institution stated on its web site. This takes the best price provided to a senior citizen to 7.8 per cent.
Union Financial institution FD Calculator
If a senior citizen invests Rs 2 lakhs for a tenure of 800 days, she is going to earn an curiosity of Rs 34,191 on the price of seven.8 per cent whereas the maturity quantity will likely be Rs 2,34,191. If a non-senior citizen invests the identical quantity for a similar tenure, he’ll get Rs 32,000 on the price of seven.3 per cent and the maturity quantity could be Rs 2,32,000.