Flexi Fixed Deposit Union Bank of India 

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What is a Union Bank of India Flexi Deposit?

Union Bank Flexi Deposit combines the benefits of a fixed deposit with the convenience of a current or savings account. The Flexi Fixed Deposit is available in two distinct schemes. The Union Flexi Current Deposit (CDFFD) is designed for organisations such as NGOs, trusts, clubs, and societies. It requires a minimum balance of ₹5,00,000 with sweep-ins in multiples of ₹1,00,000. The Savings Flexi Deposit (SBNFP) is aimed at high-value individuals and government accounts, with a higher minimum balance requirement of ₹10,00,000.

Union Bank of India Flexi Deposit Interest Rates

The Flexi Fixed Deposit Interest Rates are aligned with Union Bank of India FD rates. The table below shows the indicative Union Bank of India Flexi Deposit Interest Rates:

For Deposits Less than ₹3 Crores

*Union Bank of India FD interest rates w.e.f. July 7, 2025

To explore comparative options, check the FD interest rates in India.

Key Features of Union Bank Flexi Fixed Deposit 

The Flexi Fixed Deposit of the Union Bank of India has several useful features. Below are some of them that make it a practical option for managing surplus funds:

• Higher Interest Earnings: Compared to a regular Union Bank savings account, Flexi Deposits offer higher returns linked to fixed deposit rates. Interest rates can be as high as 6.60% for general citizens and 7.10% for senior citizens.
• Choice of Investment Period: You can choose from short-term deposit durations, especially under the Savings Flexi scheme, with tenures ranging from 46 to 90 days. 
• Free Cheque Leaves: Customers holding Flexi Deposits through a current account receive a cheque book with 100 free leaves per year. This adds convenience for high-volume transaction users.
• Higher Transaction Limits: Current account holders can withdraw up to ₹1 lakh/day via ATM and spend up to ₹3 lakh/day via POS, making it suitable for operational use.
• Unlimited Free Transfers: If your Flexi Deposit is linked to a savings account, you get unlimited RTGS, NEFT, and DD transactions without service charges.
• Free Monthly Cash Deposits: Cash deposit charges are waived for deposits up to ₹50 lakh per month, reducing transactional costs for large depositors.

How to Open a Union Bank of India Flexi Fixed Deposit?

You can open a Flexi Fixed Deposit at Union Bank of India online or by visiting a branch. Existing Union Bank customers just need to complete the flexi deposit setup. New customers must open a savings account first and then link the flexi fixed deposit to it.

1. Online FD Opening

   You can book a Union Bank of India FD online. Just log in, fill out the form, and book the FD amount from your savings account.

   • NetBanking or Mobile App: Log in to Union Bank of India NetBanking with your credentials or open the Union Bank of India Mobile Banking app.
   • Go to ‘Fixed Deposit’: Navigate to the 'Deposits' section and select the 'Union Flexi Deposit Scheme'.
   • Select FD Amount: Select your account and enter the amount, starting from ₹10,000.
   • Select FD Type: Choose the deposit option that links your savings or current account.
   • Maturity Instructions: Select options like auto-renewal, interest payout frequency, or payout at maturity.
   • Review & Confirm: Check all details, accept the terms & conditions, and submit.
   • FD Receipt: An e-receipt for your Fixed Deposit will be generated instantly.

2. Offline FD Opening

   If you find the offline process more convenient, just visit your nearest Union Bank of India branch to book an FD.

   • Visit Union Bank of India Branch: Visit a branch with your PAN/Aadhaar and a cheque or cash.
   • FD Form: Fill out the Term Deposit form at the Union Bank of India branch.
   • Submit Documents: Submit the required KYC proofs if you are a new customer.
   • Fund Transfer/Deposit: Deposit the FD amount (minimum ₹10,000) digitally, through a cheque, or cash.
   • Tenure & Interest Options: Choose the tenure (6 months to 60 months) and interest payout frequency.
   • Get the FD Receipt: Union Bank of India will issue a Term Deposit Receipt (TDR) as confirmation.

Difference Between Flexi Fixed Deposits and Regular Fixed Deposits

Here’s a quick comparison of the key features between Union Bank of India’s Regular Fixed Deposits and Union Bank of India Flexi Deposit :

Key Takeaways

Union Bank of India Flexi Fixed Deposit helps maximise returns on surplus funds with weekly sweep-ins of ₹1,00,000. It suits NGOs, trusts, high-value individuals, and government accounts with minimum balances of ₹5 lakh or ₹10 lakh. Interest rates increase to 6.60% for general customers and 7.10% for senior citizens. Thus, Flexi deposits are the right option for growing your money with higher returns than regular FDs. With this facility, you can avoid Union Bank of India FD premature withdrawal charges and continue benefiting from higher interest earnings.