City Union Bank has announced new FD interest rates for amounts below ₹3 crore from September 1, 2024. Like other banks including the Bank of Baroda, Bank of India, Karnataka Bank, City Union Bank has also revised its interest rate structure to offer better returns both for existing general customers and senior citizens.
Overall, the general citizens can now exercise interest rates moving from 5% to 7%. 5%, depending on the tenure of the FD. The highest interest rate was 7%. 5% has been provided at a special fixed rate for 333 days only. Here’s a breakdown of the updated interest rates:
City Union Bank FD rates
Tenure
Interest Rate (General Citizens)
7 days to 14 days
5%
15 days to 45 days
5.5%
46 days to 90 days
5.75%
91 days to 180 days
6%
181 days to 270 days
6.25%
271 days to 332 days
6.5%
333 days
7.5%
334 days to 400 days
7%
401 days to 3 years
6.5%
3 years to 10 years
6.25%
Tax Saver FD
7.1%
FD Interest Rates for Senior Citizens
The interest rates are even more encouraging for the elderly with rates as low as 5% and a maximum of 8% for the 333-day special FD. Here’s the interest rate breakdown for senior citizens:
Tenure
Interest Rate (Senior Citizens)
7 days to 14 days
5%
15 days to 45 days
5.5%
46 days to 90 days
5.75%
91 days to 180 days
6%
181 days to 270 days
6.5%
271 days to 332 days
6.75%
333 days
8%
334 days to 400 days
7.25%
401 days to 3 years
6.75%
3 years to 10 years
6.5%
Tax Saver FD
7.1%
Special Rates for Super Senior Citizens
For super senior citizens above 80 years of age, City Union Bank has brought in more benefits and their savings account offers the highest interest rate of 8.1% for a 333-day FD. Other interest rates are slightly higher as compared to the interest rate that is provided to the senior citizen.
Tenure
Interest Rate (Super Senior Citizens)
7 days to 14 days
5%
15 days to 45 days
5.5%
46 days to 90 days
5.75%
91 days to 180 days
6%
181 days to 270 days
6.5%
271 days to 332 days
6.75%
333 days
8.1%
334 days to 400 days
7.3%
401 days to 3 years
6.75%
3 years to 10 years
6.5%
Tax Saver FD
7.1%
Conclusion:
The change in rates on fixed deposits is intended to ensure that customers, especially senior citizens and super senior citizens, get better returns for their investments and better revenue security.
Boost your savings with City Union Bank’s updated FD interest rates for deposits below ₹3 crore, effective September 2024. Personal Finance Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
