Union Bank: In how many years will an investment of ₹1,00,000 yield a fixed interest of ₹14,325?

In this era of inflation and market volatility, investors are looking for a safe option. So, if you are also looking for a safe investment option, then, as always, rely on Fixed Deposits (FDs). Recently, in December, the Reserve Bank of India (RBI) cut the repo rate by 0.25 percent, bringing the total reduction this year to 1.25 percent.  Following this reduction in the repo rate, banks have also started changing their FD interest rates. Union Bank of India is also among them, having implemented new FD rates from December 5th.

It's worth noting that, being a government bank, Union Bank of India's FD schemes are considered safe and reliable by investors. Importantly, the bank is still offering attractive interest rates on some tenures, creating a good opportunity for those seeking fixed returns with low risk. Let's find out when and how you can get a fixed interest of ₹14,325 on a deposit of ₹1,00,000 in this bank.

Interest and Investment Tenure

Union Bank offers FD tenures ranging from 7 days to 10 years.
Both short-term and long-term options are available.
Interest rates on FDs can range from 2.75% to 7.05%.
The highest return is offered on the special 400-day FD.
Attractive interest benefits for general citizens.
Senior citizens receive the benefit of extra interest.

General citizens will get 6.00% interest on a 2-year FD.
The rate can go up to 6.50% for senior citizens.
Those aged 80+ will get a benefit of 6.75%.
It's a great option for a secure income after retirement.

How much fixed return will you get on ₹1 lakh?
Senior citizens will get the benefit of extra interest on this FD.
For general citizens, an investment of ₹1 lakh in a 2-year FD will yield:
A total of ₹1,12,649 at maturity.
This includes a fixed interest of approximately ₹12,649. 2-year FD for Senior Citizens.

A secure investment of ₹1 lakh will yield significant returns.
You will receive a total of ₹1,13,764 on maturity.
This includes a fixed interest of approximately ₹13,764.
Invest in a 2-year FD of ₹1 lakh for Super Senior Citizens.
Super Senior Citizens will receive a total of ₹1,14,325 on maturity.

This includes a fixed interest of approximately ₹14,325.
Category    Investment Amount    FD Tenure    Maturity Amount    Fixed Interest
General Citizen    ₹1,00,000    2 years    ₹1,12,649    ₹12,649
Senior Citizen    ₹1,00,000    2 years    ₹1,13,764    ₹13,764
Super Senior Citizen (80+)    ₹1,00,000    2 years    ₹1,14,325    ₹14,325

Which investors is this scheme suitable for?
FDs are completely risk-free investments.
This is a reliable option for retirement income.
Ideal for those who want to stay away from the risks of the stock market.
FDs guarantee fixed and secure returns.
Especially beneficial for senior citizens.

Conclusion of the news
Even after the repo rate cut, FD returns remain attractive.
FDs provide a fixed income with safe investment.
Better for those who prefer low risk.
It is a reliable scheme of a government bank.
A strong option for stable and fixed interest. (Note: This news is based on general information; for more details, please visit the bank and seek appropriate advice)

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