Today, we’re going to tell you about FDs offered by Union Bank of India, a state-owned bank. By investing in an FD, you can earn a profit of over ₹1 lakh. Let’s find out.
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FD interest rates: Bank FDs are very popular among people. When it comes to investing money, most people prefer to invest in bank FDs. All banks in the country offer bank FDs to their customers. The interest rates on FDs vary from bank to bank. Therefore, if you plan to invest in bank FDs, you should first learn about the FD interest rates of different banks and invest in the FD with the highest interest rate.
Today, we’re going to tell you about FDs offered by Union Bank of India, a state-owned bank. Investing in an FD can earn you over ₹1 lakh. Let’s find out.
Union Bank of India FD Interest Rates
Union Bank of India offers several FDs with different tenures to its customers. The interest rates for different FDs vary. These interest rates are as follows.
1 year – 6.40 percent
2 years – 6.50 percent
3 years – 6.60 percent
5 years – 6.40 percent
If you’re investing in a Union Bank of India FD, you can invest in a 3-year FD. This FD has the highest interest rates, at 6.60 percent.
Returns on a 3-Year Union Bank of India FD
If you invest Rs 5 lakh in a 3-year Union Bank of India FD, you will receive a total of Rs 608,497 upon maturity. This translates to a profit of approximately Rs 1.08 lakh. Investing a larger amount will yield higher returns. You can also invest for a longer term, say 5 years.
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