Interest Rates
4.40% – 6.60%
Time Period
3 months – 10 years
Min - Max Amount
1,000 - No limit
Compounding
Quarterly
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Expected Rate of Return
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₹ 0
Invested Amount
₹ 10,000
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Union Bank of India is one of the country’s leading public sector banks, with its corporate headquarters located in Nariman Point, Mumbai. Established on November 11, 1919, the bank is a listed entity with the Government of India holding a 74.76 percent stake in its paid-up capital. On April 1, 2020, Andhra Bank and Corporation Bank were merged into Union Bank, significantly expanding its reach.
As of March 31, 2025, the bank has a total business of ₹22.92 lakh crore, with over 8,600 domestic branches, 8,900 ATMs, more than 23,000 Business Correspondent points, and a workforce of over 73,500 employees. Union Bank has a strong international presence with branches in Dubai and Sydney, a subsidiary in London, and a joint venture in Malaysia.
Union Bank Fixed Deposits offer a secure investment option with competitive interest rates. Customers can open an FD account with a minimum deposit amount and earn assured returns for a fixed tenure. The bank also provides flexible tenure options, nomination facility, and easy renewal services.
Tenure | Regular Rate (% p.a.) | Senior Citizen Rate (% p.a.) |
7 – 14 Days | 3.40 | 3.90 |
15 – 30 Days | 3.40 | 3.90 |
31 – 45 Days | 3.40 | 3.90 |
46 – 90 Days | 4.40 | 4.90 |
91 – 120 Days | 4.70 | 5.20 |
121 – 180 Days | 4.90 | 5.40 |
181 Days to < 1 Year | 6.15 | 6.65 |
1 Year | 6.60 | 7.10 |
> 1 Year to 398 Days | 6.60 | 7.10 |
399 Days | 6.60 | 7.10 |
400 Days | 6.60 | 7.10 |
401 – 455 Days | 6.50 | 7.00 |
456 Days | 6.60 | 7.10 |
457 Days to 2 Years | 6.50 | 7.00 |
> 2 Years to 996 Days | 6.50 | 7.00 |
997 Days | 6.30 | 6.80 |
> 998 Days to < 3 Years | 6.50 | 7.00 |
3 Years | 6.60 | 7.10 |
> 3 Years to 5 Years | 6.40 | 6.90 |
> 5 Years to 10 Years | 6.40 | 6.90 |
Note: The data is as of July 7, 2025
These FDs range between 7 days to less than a year, offering interest rates from 3.40% to 6.15% for regular customers and 3.90% to 6.65% for senior citizens. This type of FD can be suitable for short-term savings and quick liquidity.
These FDs range from 1 year to 5 years, with interest rates between 6.60% to 6.40% for regular customers and 7.10% to 6.90% for senior citizens. This can be a suitable option for planned expenses over the medium term.
These FDs range from 5 years to 10 years, offering 6.40% for regular customers and up to 6.90% for senior citizens. This can be suitable for long-term wealth creation with stable and assured returns.
| Tenure | Institution Name | Interest Rate (% p.a.) |
|---|---|---|
 | 15 months to less than 18 months | 7.25› |
 | 365 days | 7.25› |
 | 15 months to less than 16 months | 8.00› |
 | 444 days | 7.30› |
 | 18 months to less than 21 months | 7.25› |
Note: The data is as of July 15, 2025
Note: Tax-saving fixed deposits under Section 80C are only available to individuals or joint account holders. Corporates and institutions are not eligible to invest in these schemes.
Investments in Union Bank’s Tax Saver FD qualify for a tax deduction of up to ₹1,50,000 per financial year under Section 80C of the Income Tax Act. Other FD types do not provide this benefit.
The interest earned on any Union Bank FD is taxable as per the investor’s applicable income tax slab. Additionally, Tax Deducted at Source (TDS) is applied at 10% if total interest income exceeds ₹40,000 in a financial year (₹50,000 for senior citizens).
If PAN details are not provided, the TDS is deducted at a higher rate of 20%.
You can close your Union Bank Fixed Deposit before maturity, but a penalty will apply. If the deposit is less than ₹2 crore and has run for at least 7 days, the bank will reduce the interest rate by one percent. You will get the lower of either the reduced interest rate or the original rate for the time your money stayed in the account.
