1. What is the minimum amount required to open a Union Bank FD?

The minimum deposit is â¹1,000 for most of the Union Bank of India Fixed Deposit schemes. However, the minimum investment for certain of the FD plans may be different.

2. What is the highest Union Bank FD interest rate?

Union Bank of India gives the highest FD interest rate of 6.65% p.a. for normal citizens and 7.15% p.a. for senior citizens on the 555-day tenure for domestic deposits up to â¹3 crore.

3. Can I withdraw my Union Bank FD before maturity?

Yes, Union Bank of India allows premature withdrawal in the majority of its fixed deposit schemes. However, the penalty charges and scheme specific conditions may apply. If the deposit is closed before the expiry of 7 days, no interest shall be given.

4. Does Union Bank of India provide a loan against a fixed deposit?

Yes, the Union Bank of India fixed deposit schemes offer loan and overdraft subject to the terms and conditions of the bank. Some specialised schemes may not offer this facility.

5. Can NRIs open a fixed deposit with the Union Bank of India?

Yes, Union Bank of India offers NRE, NRO, FCNR(B) and RFC Fixed Deposits for NRIs subject to applicable qualifying criteria and terms and conditions of the plan.

Union Bank of India FD Rates

Union Bank of India offers fixed deposit (FD) interest rates ranging from 2.70% to 6.65% p.a. for regular citizens. Senior citizens interest rates range from 3.20% to 7.15%, while super senior citizens (80 years and above) receive an additional 0.25% p.a. over the applicable senior citizen interest rates (total benefit of 0.75% p.a. over regular citizen rates). The highest regular rate reaches up to 6.65% for a special 555-day tenure.

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Union Bank of India FD Options

Apart from domestic fixed deposits, Union Bank of India provides NRI fixed deposit options, including NRE, NRO, RFC and FCNR(B) deposits. FCNR(B) and RFC deposits can be opened in US Dollar (USD), British Pound Sterling (GBP), Euro (EUR), Japanese Yen (JPY), Canadian Dollar (CAD) and Australian Dollar (AUD). The table below highlights the FD interest rates across different tenures.

Union Bank of India FD Interest Rates - Highlights

Highest slab rate (for 555 days)	6.65%
For 1 year	6.20%
For 2 years	6.15%
For 3 years	6.10%
For 4 years	6.00%
For 5 years	6.00%
Tax-Saving FD	6.00%

*Union Bank FD Interest Rates w.e.f. 1st June 2026

Union Bank FD Interest Rates of Domestic/NRO Deposits of Less than ₹3 Crore w.e.f. 1 June 2026

Tenure	Interest Rates (% p.a.)
Tenure	Regular Citizens	Senior Citizens
7 days to 14 days	2.70	3.20
15 days to 30 days	2.80	3.30
31 days to 45 days	3.00	3.50
46 days to 90 days	4.00	4.50
91 days to 120 days	4.30	4.80
121 days to 180 days	4.75	5.25
181 days to 270 days	5.40	5.90
271 days to 364 days	5.60	6.10
1 year to 399 days	6.20	6.70
400 days	6.25	6.75
401 days to 443 days	6.25	6.75
444 days	6.50	7.00
445 days to 554 days	6.15	6.65
555 days	6.65	7.15
556 days to 996 days	6.15	6.65
997 days	6.10	6.60
998 days to 3 years	6.10	6.60
Above 3 years to 10 years	6.00	6.50

Note: For super senior citizens aged 80 years and above, the bank offers an additional 0.25% p.a. interest rate offered to senior citizens.

Comparison of FD Rates from Top 20 Scheduled Banks

Bank FD	HighestFD rate(% p.a.)	1-yearFD rate(% p.a.)	3-yearFD rate(% p.a.)	5-yearFD rate(% p.a.)	Additionalinterest ratefor senior citizens(% p.a.)
Suryoday Small Finance Bank FD Rates	8.10	7.25	7.25	7.90	0.15
Jana Small Finance Bank FD Rates	8.00	7.00	8.00	7.77	0.50
ESAF Small Finance Bank FD Rates	7.75	6.00	6.00	5.75	0.50
Utkarsh Small Finance Bank FD Rates	8.10	6.00	7.50	7.00	0.50
Ujjivan Small Finance Bank FD Rates	7.80	7.25	7.25	7.20	0.50
Shivalik Small Finance Bank FD Rates	8.00	6.00	7.50	6.25	0.50
Equitas Small Finance Bank FD Rates	8.00	7.10	7.10	7.00	0.50
Bandhan Bank FD Rates	7.45	7.00	7.25	5.85	0.50-0.75
DCB Bank FD Rates	7.50	6.90	7.00	7.50	0.25-0.50
RBL Bank FD Rates	7.20	7.00	7.20	6.70	0.50
Capital Small Finance Bank FD Rates	7.15	7.00	7.00	6.90	0.50
SBM Bank	7.30	7.10	7.10	7.00	0.50
AU Small Finance Bank	7.40	6.35	7.40	6.75	0.50
Central Bank of India FD Rates	6.70	6.10	6.00	6.00	0.50
YES Bank FD Rates	7.25	6.65	7.00	6.75	0.50-0.75
Induslnd Bank FD Rates	7.00	6.75	7.00	6.65	0.50
Unity Small Finance Bank FD Rates	7.50	7.50	6.75	6.75	0.50
Federal Bank FD Rates	6.80	6.25	6.75	6.40	0.50
Bank of India FD Rates	6.85	6.50	6.70	6.00	0.50

Union Bank Of India Tax Saver Fixed Deposit

Tenure	Interest Rates (% p.a.)
Tenure	Regular Citizens	Senior Citizens
5 years to 10 years	6.00	6.50

Union Bank of India Fixed Deposit Interest Rates of NRE Fixed Deposits of less than ₹3 Crore w.e.f. 1 June 2026

Tenure	Interest Rates (% p.a.)
Above 1 year to 399 days	6.20
400 days	6.25
401 to 443 days	6.25
444 days	6.50
445 days to 554 days	6.15
555 days	6.65
556 days to 996 days	6.15
997 days	6.10
Above 998 days to 3 years	6.10
Above 3 years to 10 years	6.00

Union Bank Fixed Deposit Rates of FCNR (B) Deposits w.e.f. 30 May 2026

Tenure	Interest Rates (% p.a.)
Tenure	USD less than 2 lakh	USD 2 lakh and above	GBP	EUR	JPY	CAD	AUD
1 year to less than 2 years	4.40	4.50	4.05	2.75	0.20	3.00	3.75
2 years to less than 3 years	3.55	3.60	3.00	2.05	0.01	2.75	3.50
3 years to less than 4 years	3.35	3.40	2.50	1.55	0.01	2.50	3.00
4 years to less than 5 years	3.00	3.05	2.50	1.55	0.01	2.50	3.00
5 years only	3.05	3.10	2.50	1.55	0.01	2.50	3.00

Union Bank of India FD Rates of RFC Deposits w.e.f. 30 May 2026

Tenure	Interest Rates (% p.a.)
Tenure	USD less than 2 lakh	USD 2 lakh and above	GBP	EUR	JPY	CAD	AUD
6 months to less than 1 year	4.40	4.50	4.05	2.75	0.20	3.00	3.75
1 year to less than 2 years	4.40	4.50	4.05	2.75	0.20	3.00	3.75
2 years to less than 3 years	3.55	3.60	3.00	2.05	0.01	2.75	3.50
3 years	3.35	3.40	2.50	1.55	0.01	2.50	3.00

How to Open an FD in the Union Bank of India

Union Bank of India allows customers to open a fixed deposit through Internet Banking or by visiting a branch. Choose the method that suits you and follow the steps below to complete the FD opening process.

Online Method

You can open a Union Bank of India Fixed Deposit online through Internet Banking without visiting a branch by following these steps:

Log in to Internet Banking: Visit the Union Bank of India Internet Banking portal and sign in using your User ID and Password.
Open the Fixed Deposit Section: Go to Online Deposits, select Deposits, and click Fixed Deposit Opening to start the application.
Enter Deposit Details: Provide the deposit amount, tenure, debit account, FD scheme, PAN details, and other required information.
Review the Application: Check the entered details, including the interest rate, maturity amount, nominee, and maturity instructions before proceeding.
Verify and Confirm: Enter your transaction password and complete the OTP authentication sent to your registered mobile number.
Submit and Receive Confirmation: Submit the request to create the FD and download or save the deposit receipt for future reference.

Offline Method

If you prefer in-person assistance, you can visit a Union Bank of India branch and open a fixed deposit by following these steps:

Visit a Union Bank Branch: Go to the nearest Union Bank of India branch and request a Fixed Deposit application form.
Complete the Application Form: Fill in the required details, including the deposit amount, tenure, interest payout option, and nominee information.
Submit the Required Documents: Provide the completed application form along with the necessary KYC documents, PAN, and other documents, if applicable.
Deposit the Investment Amount: Pay the deposit amount by debiting your Union Bank account or through another payment mode accepted by the branch.
Verification by the Bank: The branch official verifies your application, documents, and payment details before processing the fixed deposit.
Collect the Fixed Deposit Receipt: After successful processing, collect the Fixed Deposit Receipt (FDR) or deposit confirmation and keep it safely until maturity.

Documents Required for Opening a Union Bank FD

The documents required to open a Union Bank of India Fixed Deposit depend on whether you are an existing customer or a new customer. The details are given below:

Customer Type	Documents Required
Existing Customers	Generally, no additional documents are required as the bank already has the customer's KYC details. Customers can open an FD by submitting the FD application form at a branch or through Internet Banking or the Mobile Banking app.
New Customers	Valid identity proof and address proof are required for KYC verification. The bank may request additional documents depending on the customer's category. It is advisable to contact the nearest Union Bank branch for the complete list of applicable documents before applying.

Eligibility Criteria of Union Bank FDs

Union Bank accepts a wide range of applicants to open fixed deposits as long as they meet the qualifying criteria of the bank. Eligible categories are as follows:

Eligible Applicants	Details
Individuals	Resident individuals and eligible customers can open a Union Bank Fixed Deposit.
Partnership Firms	Registered partnership firms are eligible to open FDs.
Specified Associates	Specified associations are eligible as per the bank's guidelines.
Societies	Registered societies can invest in Union Bank FDs.
Trusts	Public and private trusts are eligible to open fixed deposits.
Limited Liability Partnerships (LLPs)	Registered LLPs can open FD accounts with the bank.
Companies	Both private limited and public limited companies are eligible.
Hindu Undivided Families (HUFs)	HUFs can open fixed deposits in accordance with the bank's rules.
Government Departments and Authorities	Departments and authorities established by the Central or State Government are eligible to open Union Bank FDs.

Features of Union Bank FD Schemes

Union Bank FD Schemes offer varied features to suit various investment needs. The key features are listed below.

Union Bank of India Fixed Deposit Receipt (FDR)

Tenure: 6 months to 10 years
Minimum deposit amount: ₹1,000
Loan and nomination facilities are available
Premature withdrawal of deposits is permitted
The deposit can be renewed automatically for the same tenure at the applicable interest rate if the depositor opts for the auto-renewal facility
Resident senior citizens are eligible for an additional interest rate as per the bank's prevailing policy
Resident super senior citizens (80 years and above) are eligible for an additional interest rate as per the bank's prevailing policy

Union Bank of India Short Deposit Receipt (SDR)

Minimum deposit amount: ₹1,000
Tenure: 7 days to 179 days
Auto-renewal facility is available
Loan and nomination facilities are available
Premature withdrawal of deposits is permitted

Union Bank of India Deposit Re-Investment Certificate (DRIC)

Minimum deposit amount: ₹1,000
Tenure: 6 months to 10 years
Loan and nomination facilities are available
Premature withdrawal of deposits is permitted
Auto-renewal facility is available
Interest is compounded quarterly and reinvested with the principal.
The accumulated amount is paid to the depositor on maturity.

Union Tax Saver

Tenure: 5 years to 10 years
Lock-in period: 5 years
Minimum deposit amount: ₹5,000 and thereafter in multiples of ₹1,000
Maximum deposit amount: ₹1.5 lakh in a financial year
Loan facility is available only after completion of the 5-year lock-in period
Auto-renewal facility is not available
Premature closure is permitted only in the event of the death of the primary account holder
Nomination facility is available

Union Bank of India Easy Tax Saver Deposit Scheme

Minimum deposit amount: ₹1,000 and thereafter in multiples of ₹1,000
Maximum deposit amount: ₹1.5 lakh in a financial year
Lock-in period: 5 years
Loans are not permitted and the deposit cannot be offered as collateral
Nomination facility is available
Auto-renewal facility is not available
Premature closure is permitted only in the event of the death of the primary account holder

Union Bank of India Monthly Income Scheme (MIS)

Tenure: 1 year to 10 years
Minimum deposit amount: ₹1,000 and thereafter in multiples of ₹1,000
Maximum deposit amount: No upper limit
Interest is paid monthly at the discounted value of the contracted rate
Loan, nomination and auto-renewal facilities are available
Premature closure of deposits is permitted

Union Callable Term Deposit

Available as a regular callable fixed deposit scheme
Premature withdrawal is permitted subject to the applicable penalty
Loan/Overdraft facility is available
Auto-renewal facility is available if opted by the depositor

Union Non-Callable Term Deposit Scheme

Minimum deposit amount: ₹3 crore and above
Tenure: 61 days to 3 years
Auto-renewal facility is not available
Premature withdrawal is permitted only in the following circumstances:

Death of the depositor or first depositor in case of a joint account
Bankruptcy of the depositor(s)
Government or regulatory authority orders
Court orders

Union Bank of India loan against FD/Overdraft facility is available against the deposit

Union Bank Money Flex Term Deposit (MFTD)

Tenure: 6 months to 10 years
Minimum deposit amount: ₹25,000
Maximum deposit amount: Less than ₹2 crore
The scheme allows partial withdrawals before maturity without closing the entire deposit
Eligible partial withdrawals do not attract a premature withdrawal penalty as per the scheme terms
Loan facility is not available
Auto-renewal facility is available

Union Green Deposit (UGD)

Minimum deposit amount: ₹50,000
Maximum deposit amount: Less than ₹2 crore
Senior citizens and eligible staff members receive additional interest as per the bank's prevailing interest rate policy
Auto-renewal facility is not available

Union Bank of India Motor Accident Claims Annuity Deposit (MACAD)

Tenure: 3 years to 10 years
Deposits exceeding 120 months can be accepted based on court directions
If the court-prescribed tenure is less than 3 years, a regular fixed deposit account is opened instead
Loan or advance facility is not available
Minimum deposit amount: Based on a minimum monthly annuity of ₹1,000 for the applicable period
Nomination facility is available
Premature withdrawal or part lump-sum payment during the claimant's lifetime is permitted only with court approval. If approved, the remaining amount is invested in a new annuity account for the balance tenure. Where the balance tenure is less than 3 years, a new MIS deposit is opened at the prevailing interest rate.

Union Bank of India Capital Gain Scheme

Minimum deposit amount: ₹1,000
Tenure: 2 years to 3 years (depending on the applicable provisions of the Capital Gains Accounts Scheme)
Under the FDR option, interest is paid quarterly or half-yearly, as chosen by the depositor
Loan facility is not available
Nomination facility is available
Auto-renewal facility is not available
Premature withdrawal is permitted as per the scheme guidelines

Union Smart Rupee Deposit Scheme

Available for NRIs, PIOs and OCIs
Minimum deposit amount: USD 10,000 or equivalent
Tenure: 1 year
Premature withdrawal is not permitted
Maturity proceeds are paid only in Indian Rupees (INR)
Interest rate is applicable as per the FCNR(B) Term Deposit for the corresponding tenure

Union Bank of India NRI Schemes

Union Bank of India offers a range of fixed deposit schemes designed to meet the banking needs of NRIs.

Union Bank of India NRE Fixed Deposit

Minimum deposit amount:

₹10,000 for metro and urban branches
₹5,000 for rural and semi-urban branches
₹5,000 for senior citizens

No interest is payable if the deposit is closed before completing one year
Nomination facility is available
Interest is credited quarterly

Union Bank of India NRE Flexi Fixed Deposit

Available for NRIs, PIOs and OCIs
Minimum savings account balance: ₹50,000
Tenure: 1 year
Sweep-out amount: ₹10,000 and thereafter in multiples of ₹10,000 up to ₹1 crore per day
Sweep-in amount: ₹5,000 and thereafter in multiples of ₹5,000
Daily sweep-out facility
Free benefits:

Five cheque books of 20 leaves each per financial year
No NEFT/RTGS charges
No minimum balance charges

Nomination facility is available
Loan, overdraft and lien facilities are not available against the linked Flexi Deposit

Union Bank of India NRE Monthly Income Scheme

Minimum deposit amount: ₹1,000
Tenure: 1 year to 10 years
Interest is paid monthly at the discounted value of the contracted rate
Loan and nomination facilities are available
Premature closure is permitted and applicable premature withdrawal rules and penalties apply
No interest is payable if the deposit is closed before one year

NRO Short Term Deposit

Minimum deposit amount: ₹5 lakh for deposits with a tenure of 7 days to 14 days
Tenure: 7 days to 179 days

NRO Flexi Fixed Deposit

Available for NRIs, PIOs and OCIs
Minimum savings account balance: ₹50,000
Tenure: 46 days to 1 year
Sweep-out amount: ₹10,000 and thereafter in multiples of ₹10,000 up to ₹1 crore per day
Sweep-in amount: ₹5,000 and thereafter in multiples of ₹5,000
Daily sweep-out facility
Free benefits:

Five cheque books of 20 leaves each per financial year
No NEFT/RTGS charges
No minimum balance charges

Nomination facility is available
Loan, overdraft and lien facilities are not available against the linked Flexi Deposit

Foreign Currency Non-Resident [FCNR(B)] Deposit

Deposits can be maintained in USD, EUR, GBP, AUD, JPY and CAD
Tenure: 1 year to 5 years
Joint holding with eligible residents and/or non-residents is permitted
Principal and interest are fully repatriable
Loan facility is available
Loans in foreign currency are available only to the depositor against the FCNR(B) deposit

Resident Foreign Currency (RFC) Fixed Deposit

Eligible for returning Indians who have become residents after staying abroad continuously for at least one year
Deposits can be maintained in USD, GBP, EUR, JPY, CAD and AUD
Tenure: 1 year to 3 years

Union Smart Foreign Currency Deposit

Available for NRIs, PIOs and OCIs
Minimum deposit amount: USD 10,000 or equivalent
Tenure: 1 year
Interest rate is the same as the applicable NRE Term Deposit rate for a one-year tenure
Premature withdrawal is not permitted

Premature Withdrawal of Fixed Deposits

Under the Union Bank of India FD premature withdrawal rules, no interest is payable if the deposit is closed before completing 7 days.
In case of premature withdrawal for deposits held for more than 7 days, interest is paid at 1% below the applicable rate on the date of deposit for the period the deposit remained with the bank or at the contracted rate, whichever is lower.
For Union Green Deposits, the same premature withdrawal rules apply.

Union Bank of India FD Calculator

Union Bank of India does not provide an FD calculator on its official website. Customers can use an online FD calculator to estimate the maturity amount and interest earned by entering the deposit amount, tenure, and applicable Union Bank of India FD interest rate. This helps compare different investment amounts and tenures before opening a fixed deposit.

FAQs on Union Bank FD Rates

1. What is the minimum amount required to open a Union Bank FD?

The minimum deposit is ₹1,000 for most of the Union Bank of India Fixed Deposit schemes. However, the minimum investment for certain of the FD plans may be different.
2. What is the highest Union Bank FD interest rate?

Union Bank of India gives the highest FD interest rate of 6.65% p.a. for normal citizens and 7.15% p.a. for senior citizens on the 555-day tenure for domestic deposits up to ₹3 crore.
3. Can I withdraw my Union Bank FD before maturity?

Yes, Union Bank of India allows premature withdrawal in the majority of its fixed deposit schemes. However, the penalty charges and scheme specific conditions may apply. If the deposit is closed before the expiry of 7 days, no interest shall be given.
4. Does Union Bank of India provide a loan against a fixed deposit?

Yes, the Union Bank of India fixed deposit schemes offer loan and overdraft subject to the terms and conditions of the bank. Some specialised schemes may not offer this facility.
5. Can NRIs open a fixed deposit with the Union Bank of India?

Yes, Union Bank of India offers NRE, NRO, FCNR(B) and RFC Fixed Deposits for NRIs subject to applicable qualifying criteria and terms and conditions of the plan.

FD Calculator

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