New Delhi: Public sector lender Union Bank has increased fixed deposit (FD) interest rates for FDs of up to Rs 3 crore. Union bank has increased its FD interest rate by highest on the 333 days period, with customers getting 7.4 percent interest rates.


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Union Bank's new FD rates are effective from 2 August 2024. Senior Citizens get an extra interest for FDs upto  Rs 5 Crores in all of its domestic term deposits scheme.


Check Union Bank Latest FD Interest Rate w.e.f. from Aug 02, 2024


Period Rates in % per annum
< Rs. 3 Cr
7-14 Days 3.50
15-30 Days 3.50
31-45 Days 3.50
46-90 Days 4.50
91-120 Days 4.80
121-180 Days 5.00
181 Days to < 332 days 6.35
333 days 7.40
334 days to < 1 year 6.35
1 year 6.80
>1 year to 398 Days 6.80
399 Days 7.25
400 Days to 2 year 6.60
> 2 year to 996 days 6.60
997 days 6.40
>998 days to less than 3 Years (except for 999 days @ 6.40) 6.60
3 years 6.70
> 3 Year to 5 years 6.50
>5 Years to 10 Years 6.50

Union Bank of India says it offers an additional rate component to resident senior and super senior citizens on term deposits up to Rs. 5.00 Crores in all of its domestic term deposits scheme. The additional rate component, applicable to resident senior citizen deposits is 0.50% over and above the normal rates displayed above.


"The additional rate component applicable to resident super senior citizens is 0.75% over and above the normal rate displayed above (0.25% over and above rate applicable to resident senior citizen). The additional rate on super senior term deposits would be applicable for the term deposits opened/renewed on or after 01.12.2022," the bank says.