Union Bank of India is a well-known bank for everyone, the UBI bank is one of India’s largest public sector banks. The Union Bank of India provides many services to their account holder or customers like net banking, mobile banking, mobile banking application services, FD services, and many more, which we will discuss in the future.
In this guide, we will see the Union Bank of India FD Rates, fixed deposit is the most common investing method in India where the bank offers various fixed deposit options to UBI bank customers.
Fixed Deposit is an investment instrument offered by the bank to their account holders or customers, FD is a safe and secure investing method to grow your money by getting the interest on your lump-sum amount, here you have to select the FD period or tenure as per your convenience.
On maturity or complete the FD tenure you will get the amount as per the interest rate at which you locked in your deposit. There is a broad variation in FD rates, many banks provide various interest rates i.e. it is ranging from 5% to 14 or 15%. The 14% or 15% is rare to see but it comes with the risk factor of Fixed Deposit.
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Eligibility, Period, Rates, Min & Max Deposit for Union Bank of India FD Rates:
- Eligibility: Any individual with a single account or joint account holder, physically retired, blind person, and Club, Societies or Associations can open a fixed deposit in UBI bank, as per the RBI guideline.
- Period: The period for Union Bank of India FD is a minimum of 6 months and a maximum of 120 months.
- FD Rates: The fixed deposit rate could be variate as per the bank policy mean it can change per year, the current rate of interest on FD is 4.30% to 5.30% it could be higher or less.
- Min & Max deposit: As per the UBI bank rules and regulations there is a minimum of Rs. 1000/- you deposit for FD but on the other side there is no limit for maximum deposit.
By using this information you will get an idea about the Union Bank of India FD rates, by using the above information you will find out the eligibility criteria for UBI bank FD. For more information, you can visit the Union Bank of India Fixed Deposit site.
Union Bank of India FD rates for Senior Citizens:
In India there are many facilities and benefits provided to the senior citizens one of them is the fixed deposit, as per the RBI guidelines the senior citizens open the FD then they get extra benefits we will see one by one:
- The age of senior citizens must be 60 years or above
- The senior citizens must have an Indian Citizenship
- The senior citizens can deposit up to Rs.5 crore in FD
- The senior citizens get the additional 0.50% rate of interest over the normal rate.
- The Senior Citizens may be fixed deposit jointly with other persons below the age of 60 years in some special scheme
- Documentation: There are some documents are required for the senior citizens to open the FD account in the Union Bank of India,
- Birth Certificate or Leaving Certificate
- LIC Policy
- Aadhaar Card or Passport
These documents used in UBI bank as your age proof and residential proof and at the time of FD opening you must carry the original and photocopy of the mentioned documents with you then the Union Bank of India’s bank executive will verify your document and help you to open the fixed deposit.
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Union Bank FD interest rates 2022:
As we already mention the Union Bank of India provides many benefits facilities to their customers, the bank also tries to give the best rate of interest on the fixed deposit which may attract new customers for Union Bank of India.
UBI bank provides the FD interest rates in 2021 is around 4.30% to 5.30% but the rate of interest may vary per year. The Union Bank of India gives the 0.50% extra rate on interest to the senior citizen with many features, you can check the above or you can go and them on UBI official site we give the link in the above section.
Union bank FD Calculator:
There are many sites on google which provide you the FD calculator, but in my opinion, there are few sites that are genuinely giving you the actual FD calculation by using the current rate of interest per annum.
You must use the official calculator of the Union Bank of India or we suggest the Groww Calculator we provide the link so you can go and check the Union FD Calculator.
Union Bank FD rates Today:
After the bank and market digitization, the customer checks their Union Bank FD rates today and like every day, the rate of interest of bank is not like the Gold rate which fluctuation is more than FD rates.
The bank not only the UB bank but also the other try to maintain the rate of interest on the fixed deposit unchanged or more in a positive site to attract the new FD depositors.
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In this guide, we discussed Union Bank of India FD Rates 2022, we also mentioned the things require to open an FD account. We try to mention the online methods to check the rate of interest on fixed deposit, if you have internet access then you can open a UBI bank FD account at your home.
By using the above methods you know Union Bank of India FD Rates 2022, please let us know if you have any queries regarding the article.
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