Despite the RBI’s repo rate cut of 1.25% this year, many banks are still offering attractive fixed deposit (FD) interest rates.
One such option is the Union Bank of India FD scheme, where you can earn up to ₹22,239 by depositing just ₹1 lakh.
Union Bank’s 400-Day and 3-Year FD Schemes
Union Bank of India, a public sector bank, offers FD interest rates ranging from 2.75% to 7.05%, with tenures from 7 days up to 10 years.
400-Day Special FD Scheme:
General citizens: 6.30%
Senior citizens: 6.80%
Very senior citizens: 7.05%
3-Year FD Scheme:
General citizens: 6.00%
Senior citizens: 6.50%
Very senior citizens: 6.75%
These rates make Union Bank’s FDs one of the most attractive options in the current market.
How Much You Can Earn on ₹1 Lakh Deposit
If you deposit ₹1 lakh in a 3-year FD, here’s what you can expect at maturity:
General citizens: Total ₹1,19,562 (Interest: ₹19,562)
Senior citizens: Total ₹1,21,341 (Interest: ₹21,341)
Very senior citizens: Total ₹1,22,239 (Interest: ₹22,239)
This makes Union Bank’s FD a safe and profitable option for anyone looking to earn fixed returns despite lower interest rates in the market.
