Union Bank Of India Fixed Deposit Interest Rate Calculator calculates the interest earned on a fixed deposit with the help of outlined components:
Union Bank Of India Nre Saving Account Interest Rates
(1) Deposit Amount
It is an amount which an FD account holder wants to invest in the fixed deposit. It is also called principal. It is to be remembered that this amount can be deposited only once hence you have to decide the amount to be invested according to your investment objectives.
All resident Indian individuals and clubs, associations, societies, etc. Are eligible to open a savings account with Union Bank of India. The bank offers good interest rates and a plethora of other benefits like net banking facilities. It also offers a zero balance facility to students opening such. For instance, Union Bank of India SCSS interest rate as on September 15th, 2020, is 7.4%. So the deposits that are made now will generate interest at the rate of 7.4% till September 2025. Under Union Bank of India Senior Citizen Savings Scheme, the interest will be paid out on a quarterly basis.
(2) Interest Rate
- The rate of interest offered by the Union Bank of India Senior Citizen Saving Scheme is 7.4%. Can I extend my Senior Citizen Saving Scheme account after maturity? Yes, you can extend your Senior Citizen Saving Scheme account by 3 years after maturity. What is the minimum amount of deposit?
- Citizens Charter of Union bank of India Right to Information Act Vigilance & Systemic Improvements Banking Ombudsman Unclaimed Accounts Unclaimed Dividends Policies. Salary Account Demat Account Saving Account Fix. General General Interest Rate Interest Rates. Interest Rates - Deposit: More. Interest Rates - Loans and Advances.
It is the rate of interest offered by the bank where you open the FD. It differs for different tenures. Once FD is opened for a specific tenure then the interest rate will remain the same for the whole tenure.
(3) Term of Deposit (FD Tenure)
Which Bank Gives Maximum Interest On Saving Account In India
It is the duration for which the amount is invested in an FD which may vary from 7 days to 10 years. In the calculator, you can select the tenure in days, months or year.
(4) Compounding of Interest
Interest can be compounded on monthly, quarterly, half yearly or annual basis. It can be a simple interest as well. You need to enter it based on the offer by the bank.
Features:Which Indian Bank Give More Interest On Saving Account
Any Resident Individual - Single Accounts, Two or more individuals in Joint Accounts, Illiterate Persons, Visually Impaired persons, Purdanasheen Ladies, Minors, Associations, Clubs, Societies, etc.
- Minimum balance requirement with or without cheque book facility:
Centres
Without Cheque Book (`)
With Cheque Book (`)
Metro
500
1000
Urban
500
1000
Semi Urban
250
500
Rural
100
250
- Interest is calculated on daily product basis and will be credited on quarterly basis in the months of April, July, October and January every year.
- Rate of interest upto 25Lacs and more than 25 lacs-3%p.a