Union Bank Fixed Deposit Rates

admin 3/31/2022 31/03/22

Commercial Bank Fixed Deposit Rates
Bank Deposit Rates In Us
Union Bank Fixed Deposit Rates 2019

Fixed interest rate. Use your mobile device to securely and conveniently deposit checks anytime, anywhere. You will leave the Union Bank website and enter a. In case of Pre-closure of retail term deposits (less than Rs.2.00 crores), which have run for 7 days or above, interest to be paid at 1.00% less than the applicable rate (as on the date of opening of deposit) for the period for which it has actually remained with the Bank or contracted rate. If you're looking for a safe way to grow your savings, our Certificates of Deposit are the answer. Opt for a short-term boost or stay in it for the longer haul. Various options allow you to structure your CDs to mature at the right time for you. If you are a loyalty customer, earn even better rates. Money grows at a fixed rate for the CD's term.

Get a great rate on your account

Effective as of December 24, 2020

Rates for certificates of deposit & individual retirement accounts (IRAs)

TERM	$1,000-$24,999.99 APY*	$25,000 & OVER APY*
3 months (CD only)	0.15%	0.25%
6 months Open Online	0.20%	0.30%
9 months	0.25%	0.35%
10 months	0.30%	0.40%
11 months	0.40%	0.50%
12 months Open Online	0.45%	0.55%
13 months	0.45%	0.55%
15 months	0.50%	0.60%
15 months Access** (CD only)	0.50%	$10,000 min to open (new money)
16 months	0.50%	0.60%
17 months	0.50%	0.60%
18 months	0.50%	0.60%
19 months	0.55%	0.65%
20 months	0.60%	0.70%
22 months	0.65%	0.75%
24 months Open Online	0.65%	0.75%
27 months	0.65%	0.75%
30 months	0.75%	0.85%
36 months	0.80%	0.90%
48 months Open Online	0.80%	0.90%
60 months Open Online	0.80%	0.90%
Variable Rate Individual Retirement Accounts
18 month Variable***	0.55%	0.65%

*The Annual Percentage Yield (APY) is based on quarterly compounding. Unless otherwise noted, you must maintain a minimum balance of $1,000 to open the account and obtain the APY. Penalty for early withdrawal, which may reduce earnings.

**The Access CD offers a guaranteed annual percentage yield with the flexibility of penalty free withdrawals. Withdrawals made during the 6 days after opening or 6 days after each subsequent withdrawal will be assessed a penalty, which may reduce earnings. Requires $10,000 minimum to open

***Variable Rate IRA rate is subject to change after the account is opened. No minimum balance required to open account or obtain APY.

Effective as of October 8, 2020

Checking account rates

Simply Free Plus checking $1000 minimum to open (when activity requirements met)**
Balance	Interest Rate	APY*
$0.01 to $100,000	0.70%	0.70%
Over $100,000	0.10%	0.10%

Simply Free Plus checking

$1000 minimum to open
(when activity requirements not met)**

Balance

Interest Rate

APY*

$0.01 or more

0.05%

Simply Free Platinum checking
Balance	Interest Rate	APY*
$100 to $4,999.99	0.05%	0.05%
$5,000 to $9,999.99	0.05%	0.05%
$10,000 to $24,999.99	0.05%	0.05%
$25,000 and over	0.05%	0.05%

You must maintain a daily minimum balance of $100 to obtain the APY.

*The Annual Percentage Yield (APY) is based on monthly compounding. Rates subject to change at any time. Special restrictions may apply. Minimum opening balance is $1000 unless noted otherwise. Fees may reduce earnings.

**Statement cycle activity requirements: 12 debit card purchases posted (excludes ATM transactions), receive e-Statements via online banking (requires ongoing valid email address), access online banking, direct deposit posted.

Effective as of October 8, 2020

Money market and savings rates

Value Edge Money Market Account $10,000 minimum to open
Balance	Interest Rate	APY*
Less than $10,000	0.05%	0.05%
$10,000 to $49,999.99	0.10%	0.10%
$50,000 to $249,999.99	0.15%	0.15%
$250,000 to $499,999.99	0.20%	0.20%
$500,000 and over	0.20%	0.20%

Union Money Fund $50 minimum to open
Balance	Interest Rate	APY*
$2,500 to $4,999.99	0.05%	0.05%
$5,000 to $24,999.99	0.05%	0.05%
$25,000 to $49,999.99	0.10%	0.10%
$50,000 to $99,999.99	0.15%	0.15%
$100,000 and over	0.15%	0.15%
You must maintain a daily minimum balance of $2,500 to obtain the APY.

Simply Savings account

$25 minimum to open

Balance

Interest Rate

APY*

$0.01 or more

0.05%

Simply Savings Student account

$25 minimum to open

Balance

Interest Rate

APY*

$0.01 or more

0.20%

*The Annual Percentage Yield (APY) is based on monthly compounding. Rates subject to change at any time. Special restrictions may apply. Fees may reduce earnings.

Effective as of October 8, 2020

Health savings account rates

Balance	Interest Rate	APY*
Less than $2,500	0.05%	0.05%
$2,500 to $9,999.99	0.10%	0.10%
$10,000 to $24,999.99	0.20%	0.20%
$25,000 and over	0.40%	0.40%

*The Annual Percentage Yield (APY) is based on monthly compounding. Rates subject to change at any time. Special restrictions may apply. Fees may reduce earnings.

As you know that a Fixed Deposit (FD) is an investment option offered by banks that gives you higher rate of interest than a regular savings account. By investing in an FD, you can achieve your financial goals comfortably due to higher returns offered by it.

City Union Bank Limited FD provides an option to deposit lump sum amount for a specific period, ranging from 7 days to 10 years. You can choose any of the tenures offered by City Union Bank Limited FD according to your convenience and financial objective. As soon as you select the tenure and deposit the amount in City Union Bank Limited_ FD, it will start earning an interest based on the tenure of the deposit. Customer is allowed to deposit lump sum money into a fixed deposit only once into his FD account at the time of opening the account with the bank and afterwards he cannot deposit additional money in the same FD account.

You can also get tax benefits under section 80C of the Income Tax Act on an amount between Rs. 100 to 1.5 lakh by investing in City Union Bank Limited FD for a tenure of 5 years or more.

Following table provides you City Union Bank Limited FD Rates of various tenors. Also, given below is the facility/ option, through which you can calculate the interest rate and the maturity value of your City Union Bank Limited FD for different tenures by clicking on the 'calculate' button provided in the table.

City Union Bank Limited Fixed Deposit Interest Rates (as on 06 Mar 2021)

Maturity Period	Interest Rate (p.a.)	Calculate Interest Rate
30 Days	3.25%
45 Days	3.25%
60 Days	3.50%
90 Days	3.50%
120 Days	3.75%
6 Months	3.75%
9 Months	4.00%
12 Months	5.50%
2 Years	5.75%
3 Years	5.75%
4 Years	5.50%
5 Years	5.50%
10 Years	5.25%

Features & Benefits: City Union Bank Limited Fixed Deposit

Competitive interest rates are offered with flexible FD tenures to suit your investment plan.
FD account can be opened online or by visiting your nearest City Union Bank Limited branch.
No cap on the Maximum Amount of FD
FD Tenures: 7 days to 10 years
Different interest payout options such as monthly, quarterly, etc.
Loan/ Overdraft against FD facility is available upto 85% of the FD amount.
Easy and fast liquidity options are available.
Nomination facility is available.
Tax benefit of amount up to Rs 1,50,000, through tax saving term deposit scheme
Part withdrawal facility and auto-renewal facilities are also available
Senior citizens can enjoy higher interest rate as compared to regular citizens
NRE, NRO and FCNR deposit facility is offered by the bank

Who is Eligible for City Union Bank Limited Fixed Deposit

Any of the following persons is eligible to invest in fixed deposits (FD):

Individual
Minor
HUF
Proprietary Firm
Partnership Firm
Limited Liability Partnership (LLP)
Company
Association of Persons (AOP)
Body of Individuals (BOI)
Local Authority
Trust
Non-Resident Indian (NRI)
Registered Society

Important Things to Know Before Investing in Fixed Deposits

Always compare tenure-wise FD interest rates of different banks before finalizing the bank for opening an FD account, in order to get maximum interest rate on selected tenure.
The tenure for most bank fixed deposits varies from 7 days to 10 years. You should choose the FD Tenure according to your convenience and objective behind investment.
Opt for interest payout options such as monthly or quarterly, if required. Otherwise, choose cumulative option so that you can receive lump sum amount when FD gets matured.
You can also avail loan or overdraft against FD, if you have immediate requirement of funds.
If your annual income is non-taxable, you can submit Form 15G or Form 15H in order to avoid TDS.
Don't forget to make nomination in your FD account.
If you are a senior citizen then open your FD in a bank which offers extra interest of 0.25% to 0.75% to senior citizens.
When you open fixed deposit online or offline, do not forget to give instructions on what to do on maturity of your FD. If you do not give any instruction, your fixed deposit will be renewed automatically on maturity.

Calculation of Interest on FD of City Union Bank Limited

Interest on FD for different tenures is calculated in following manner:

Simple interest is paid at maturity for fixed deposit tenure of less than 6 months.
Interest is calculated on a quarterly basis for fixed deposit tenure of 6 months & above.
Cumulative Interest/ re-investment interest is calculated every quarter, and is added to the Principal such that Interest is paid on the Interest earned in the previous quarter as well.
In case of monthly deposit scheme, the interest shall be calculated for the quarter and paid monthly at discounted rate over the Standard FD Rate

City Union Bank Limited FD Interest Calculator

City Union Bank Limited FD Interest Calculator is an online financial tool that allows you to calculate the maturity value of your fixed deposit at the interest rate offered by bank. The amount of FD, interest rate, deposit tenure and compounding frequency of interest together determine the maturity amount of the FD at the end of the tenure.

Automatic Renewal of Bank FD

Bank FD matures on specific date. On maturity, if you have not given any specific instructions such as payout or renewal of FD, most of the banks automatically renew the FD for the same period for which it was initially made at the interest rate prevailing on the date of maturity of FD. This is called Automatic Renewal of Bank FD.

You should choose the option on the account opening form, if you do not want the bank to auto renew your FD. You have 2 options on the account opening form while depositing money in FD, first one is auto renew and second one is deposit of amount to your account after maturity. In case you have not mentioned any option on the account opening form then you will need to visit the bank branch on maturity day of your bank FD and opt for credit of the final proceeds of your bank FD into your savings account if you do not want an auto renewal of your FD.

Bank FD News Mar 2021

13-01-2020: SBI revised FD interest rate

SBI has announced a cut in retail fixed deposits of FD rates. The latest FD rates on SBI deposits is effective from 10th January 2020. The bank has cut the FD rates by 15 bps on long-term deposits maturing in 1 year to 10 years. Now FD interest rate for 7 to 45 days is 4.50%, for 46 to 179 days is 5.50%, for 180 days to 1 year is 5.80% and for 1 year to 10 years is 6.10%.

09-01-2020: Axis Bank reduced FD interest rate

Axis Bank reduced interest rates by up to 20 bps from January 9. FDs for less than Rs 2 crore and with the tenor of less than 1 year will earn 6.40%, for the tenor of 5 years to up to 10 years, FD rates is 6.50%.

07-01-2020: HDFC Bank deposits up by 25% (YoY) in 2019

The largest private sector lender HDFC Bank's deposits up by 25% (YoY) in 2019. Its deposits are at Rs 10.67 trillion as of December 31, 2019 growing by 25% as compared to Rs 8.52 trillion as of December 31, 2018..

Commercial Bank Fixed Deposit Rates

24-12-2019: HDFC Bank revised FD interest rate

The revised rate for FDs maturing in 9 months 1 day to less than 1 year will be 6.05%. Term deposits maturing in 1 year to 2 years will fetch an interest rate of 6.3%, 2-3 years 6.40%, and 3 years to 10 years 6.3%.

Bank Deposit Rates In Us

01-12-2019: PNB cuts off FD rates