Union Bank's amazing FD offer: Get a fixed interest of ₹22,239 on an investment of ₹1,00,000. See the bank's interest calculation..

The Reserve Bank of India has made a significant 1.25 percent cut in the repo rate this year, bringing it down to 5.25 percent. Clearly, when the repo rate decreases, it directly impacts the interest rates on bank loans and fixed deposits (FDs). This means that while interest rates on home loans, personal loans, car loans, etc., decrease, the returns on FDs also fall.

However, despite the interest rate cuts this year, some banks are offering schemes that provide people with excellent interest rates and a safe investment opportunity. One such bank is Union Bank of India, which is currently in the spotlight due to its special FD scheme. Let's find out how much interest you can earn by investing Rs. 1 lakh in a 3-year FD with Union Bank.

Union Bank of India Tenor

Union Bank of India is a government-owned bank.
You can choose a tenor from 7 days to 10 years for this bank's FDs.
Interest rates range from 2.75% to 7.05%.
The most attractive scheme is the 400-day Special FD.
The interest rates on this scheme are higher than those on other plans.

The Return on the 400-Day FD
This 400-day special FD offers the highest returns.
General citizens get 6.30% interest.
Senior citizens (60+) get 6.80% interest.
Super senior citizens (80+) get a maximum interest of 7.05%.
Many banks have reduced interest rates, but Union Bank has maintained good rates.
This scheme is ideal for investors who prefer low risk.
Safe earnings and guaranteed returns are its major advantages.

Rs. 1 Lakh FD for 3 Years
Union Bank also offers good interest rates on 3-year FDs.
General citizens get 6.00% interest.
Senior citizens (60+) get 6.50% interest. Super senior citizens (80+) receive an interest rate of 6.75%.
The older the age, the higher the interest return.
The profit amount on a deposit of ₹1 lakh varies according to different age groups.

Full calculation of a ₹1 lakh FD
The return on a ₹1 lakh deposit in a 3-year FD can vary.
A regular customer receives ₹1,19,562 at maturity.
This includes only ₹19,562 in interest.
Senior citizens receive a total of ₹1,21,341.
This includes approximately ₹21,341 in interest.
Super senior citizens receive the highest return.
They will receive approximately ₹1,22,239.
This includes a fixed interest of ₹22,239.
Clearly, the older the age, the higher the interest benefit.
This scheme is extremely beneficial for senior citizens and super senior citizens.

Union Bank FD is the best for investment
Amidst market fluctuations, the demand for safe investments has increased.
In such times, FD is considered the most reliable option.
This special scheme of Union Bank is excellent for investors.
Fixed returns without risk are its major advantage.
Even small amounts can be grown into a large sum over time.
It is a perfect scheme for those who want stable and assured returns.
This scheme is a strong option for financial security.

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