Union Bank FD Rates Increased: The Reserve Bank of India is constantly trying to rein in the rising inflation in India. For this, the central bank has increased the repo rate in the months of May, June and August. At present, the repo rate has increased from 4.00% to 5.40%. The effect of increasing repo rate is also visible on the deposit schemes offered by banks and many banks have increased their fixed deposit, RD and savings account interest rates continuously. Now the name of another government bank Union Bank of India has also been added to this list.
Union Bank of India has decided to increase the interest rate on its FDs below Rs 2 crore. The bank offers interest rates ranging from 3.00% to 5.80% to ordinary citizens on FDs ranging from 7 days to 10 years. At the same time, the bank offers a maximum interest rate of 6.20% on FDs of 5 years 1 day. The new rates increased by the bank have come into effect from 14 September 2022. Let us know that Union Bank of India FD Rates is offering its customers for different periods, how much interest rate (Union Bank FD Rates Increased) is-
Rate of interest available on deposits of less than Rs 2 crore-
Union Bank of India is offering 3.00% interest rate on its deposit scheme below Rs 2 crore with tenure of 7 to 14 days. The bank offers 3.00% interest rate on FDs of 15 to 30 days. 3.00% on the tenor of 31 to 45 days, you will get 4.05% interest rate on FD of 46 to 90 days. Union Bank offers 4.10% interest rate on 91 to 120 days FD, 4.10% interest rate on 121 days to 180 days FD.
At the same time, 4.60% interest rate is being offered by the bank on FDs from 181 days to less than 1 year. 5.35% on 1 year fixed deposit scheme, 5.45% on 2 year FD, 5.50% on 2 to 749 days FD, 6.15% on 750 days FD, 5.50 on FDs above 750 days and less than 3 years %, 5.75% on FDs of 3 to 5 years, 6.20% on FDs of 5 years 1 day and 5.80% on FDs of 5 years 1 day to 10 years Union Bank of India is offering. The bank gives maximum interest on FDs of 5 years 1 day. it is 6.10%
These banks also increased their rates
Apart from Union Bank, Bank of Baroda has also increased its FD Rates Hike. The bank has increased its FD of less than Rs 2 crore by 20 basis points i.e. 0.20%. These new rates have come into effect from 13 September 2022. Along with this, Punjab National Bank and Central Bank of India have also increased their FD rates. PNB has decided to increase the interest rate for senior citizens on their FDs below Rs 2 crore. At the same time, the Central Bank has increased the interest rate on FDs from 60 days to 5 years.
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