Public sector lender Union Bank of India is currently offering attractive interest rates on fixed deposit (FD) schemes.
Customers can earn interest ranging from 2.75% to 7.35%, depending on the deposit tenure and age category.
You can open an FD with the bank for as little as 7 days, while the maximum tenure goes up to 10 years.
For people looking for safe investment options with predictable returns, these FD schemes can offer steady earnings.
444-Day Special FD Offering Higher Returns
One of the most attractive options currently available is the 444-day special FD scheme offered by Union Bank of India.
Under this scheme, the bank offers different interest rates based on the depositor’s age:
6.60% interest for general citizens
7.10% interest for senior citizens
7.35% interest for very senior citizens (80 years and above)
Apart from this special scheme, the bank is also offering competitive rates on long-term deposits.
For FD tenures between 3 years and 10 years, the interest rates are:
6.00% for general citizens
6.50% for senior citizens
6.75% for very senior citizens
How Much You Can Earn on a ₹1 Lakh FD
Even a small deposit can generate decent returns over time.
For example, if you invest ₹1 lakh in a 5-year FD with Union Bank of India, the maturity amount will vary depending on your age category.
General citizens will receive about ₹1,34,686, which includes ₹34,686 as interest.
Senior citizens will receive around ₹1,38,042, including ₹38,042 interest.
Very senior citizens (above 80 years) will receive approximately ₹1,39,750, including ₹39,750 as interest.
This means a ₹1 lakh investment can earn nearly ₹40,000 in fixed interest over five years for very senior citizens.
A Safe Option for Long-Term Savings
Fixed deposits remain one of the safest investment options, especially for people who prefer stable and guaranteed returns instead of market-linked investments.
With flexible tenures, higher rates for senior citizens, and special schemes like the 444-day FD, Union Bank of India is currently offering several options for investors looking to grow their savings with minimal risk.
