City Union Bank Fixed Deposit Interest Rates

City Union Bank has been in existence since 1904. It began as Kumbakonam Bank Limited - a regional bank that quickly expanded its reach. In 1965, the bank became established as The Kumbakonam City Union Bank Limited due to mergers with two more local banks.
Among the many services available, City Union Bank fixed deposit interest rates have made fixed deposit schemes worth exploring.

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Features of City Union Bank Fixed Deposit 

  • Minimum amount to invest - Rs. 100
  • Make online deposits
  • Special provisions available for deposits of Rs. 2 Crores and above
  • Period ranges are as follows:
    • Minimum period – 7 days
    • Maximum period – 10 years 
  • Cumulative deposits have interest added to the principal at the end of each quarter.
  • Senior citizens receive their interest after the first year.
  • Pre-closure and auto-renewal options are available.
  • Loan and overdraft facilities are available. 
  • Tax is deductible at the source. 

City Union Bank Fixed Deposit Rates 2021

The City Union Bank fixed deposit interest rates are as follows:

City Union Bank Fixed Deposit Interest Rates for Domestic Term Deposits less than Rs. 2 Crores (w.e.f: 3rd June 2021)

Tenure

Interest Rate (%) for Regular Citizens

Interest Rate (%) for Senior Citizens

7 days to 14 days

3.00%

3.00%

15 days to 45 days

3.25%

3.25%

46 days to 90 days

3.50%

3.50%

91 days to 180 days

3.75%

3.75%

181 days to 270 days

4.00%

4.00%

271 days to 364 days

5.00%

5.00%

365 days to 550 days

5.25%

5.75%

551 days to 2 years

5.50%

6.00%

Above 2 years and up to 3 years

5.25%

5.75%

Above 3 years and up to 10 years

5.25%

5.25%

City Union Bank Fixed Deposit Interest Rates for NRO/NRE Term Deposits (w.e.f: 3rd June 2021)

Tenure

Interest Rate (%) for NRO

Interest Rate (%) NRE

7 days to 14 days

3.00%

-

15 days to 45 days

3.25%

-

46 days to 90 days

3.50%

-

91 days to 180 days

3.75%

-

181 days to 270 days

4.00%

-

271 days to 364 days

5.00%

-

365 days to 550 days

5.25%

5.25%

551 days to 2 years

5.50%

5.50%

Above 2 years and up to 3 years

5.25%

5.25%

Above 3 years and up to 10 years

5.25%

5.25%

*Fixed Deposit Interest rates are subject to change.

*Tax Saver Schemes have fixed interest of 5.50%.

Things to Remember

  • Fixed Deposits are available for Domestic, NRO and NRE citizens.
  • Tax Saver Schemes have a lock-in period of 5 years.
  • Flexifix Deposits (i.e. Flexible Fixed Deposits) are also available. 

Summing it Up

City Union Bank offers a variety of fixed deposit schemes for its customers in India and abroad. There is a wide range of investments possible, beginning with just Rs. 100 and going above 2 crores. 

The fixed deposit from City Union Bank also offers a wide range of policy durations, amounts, residency types, and schemes that one can invest in. Summing up everything, City Union Bank offers competent saving instruments for all.

Written By: PolicyBazaar - Updated: 26 August 2021
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