City Union Bank Senior Citizen RD Interest Rates

What is the City Union Bank Senior Citizen RD?

City Union Bank Senior Citizen Recurring Deposit (RD) is a savings option for investors aged 60 years and above. It enables them to deposit a set sum on a monthly basis and receive returns at a favorable rate of interest on RD.

The lowest amount of deposits required per month is based on the type of customer. Individuals can begin with ₹100 and add in multiples of ₹100, while MSMEs can deposit ₹1,000 and multiples of ₹1,000. In the case of corporates, a minimum of ₹5,000 is required in multiples of ₹5,000 deposits. An RD calculator can be used to estimate maturity value and plan savings more precisely.

City Union Bank RD Rates for Senior Citizens

The table below presents the applicable City Union Bank RD interest rates for senior citizens based on various maturity periods.

*City Union Bank Senior Citizens RD Interest Rates w.e.f. March 11, 2026

Key Features of City Union Bank Senior Citizens RD

City Union Bank senior citizen RD provides stable returns with a number of practical features:

• Standing Instruction Facility: The senior citizens are allowed to establish an auto-debit on their savings account so that every monthly instalment is paid on time. This eliminates the hassle of coming to the branch or keeping track of due dates and thus, the process is very easy for senior citizens.
• Premature Withdrawal Facility: City Union Bank RD premature withdrawal is allowed if funds are needed before maturity. However, a penalty may apply, and the interest paid may be lower based on the tenure completed.
• Late Instalment Penalty: If monthly instalments are delayed, a penalty is charged, which can reduce the overall returns. Paying on time helps maintain steady growth and avoids unnecessary charges.
• Loan Against RD: Senior citizens can use the City Union Bank loan against RD facility to access funds up to 90% of their deposit amount without closing the account. The RD continues to earn interest, while the loan is provided at a slightly higher rate than the RD interest rate.

How To Open a City Union Bank Senior Citizens RD

Opening a City Union Bank Senior Citizen RD is simple and can be done both online and offline.

Online Method

The steps to open an RD online are as follows:

• Net Banking Log in: Log in using your credentials to your savings account with City Union Bank.
• Go to Deposits Section: Click on deposits section and choose Recurring Deposit option.
• Select RD Scheme: Select the senior citizen RD plan according to your needs.
• Enter Deposit Details: Enter the amount of instalment per month and select an appropriate tenure.
• Review Interest and Details: Review the rate of interest, terms, and information entered.
• Confirm and Activate: Make the request to begin your RD immediately.

Offline Method

An RD can also be opened in the closest branch:

• Go to the Bank Branch: Go to the closest branch of City Union Bank.
• Request RD Application Form: Inquire with the bank officer to provide the recurring deposit form.
• Fill Deposit Details: Type in the monthly deposit, tenure and account information.
• Send KYC Documents: Provide valid identity documents, address documents and age documents.
• Select Payment Mode: Select the mode of payment of monthly instalments.
• Submit and Open RD: Fill in the form and your RD will be processed and activated by the bank.

City Union Bank Senior Citizens RD Eligibility Criteria

To open a City Union Bank Senior Citizen RD, you must meet the following conditions:

• Age Requirement: The applicant must be 60 years or above to qualify for senior citizen benefits.
• Savings Account Requirement: An active City Union Bank savings account is required to open and maintain the RD.
• Resident Status: The scheme is primarily available to resident individuals.
• KYC Compliance: Completion of KYC formalities is mandatory as per bank guidelines.
• Documents Required: Valid identity and address proof such as Aadhaar Card, PAN Card, Passport, Voter ID, or utility bills must be submitted.

Key Takeaways

City Union Bank Senior Citizen RD has stable returns of between 6.50% to 7.25%, and up to 7.50% to the super senior citizens. It allows making small monthly deposits and is easy to maintain. The most notable benefits consist of preferential RD interest rates and a flexible tenure of 12 to 120 months. It also provides a loan against RD to provide liquidity, which is a good alternative for disciplined saving.