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Public sector bank hikes fixed deposit interest rates

Mumbai: The fifth largest public sector bank in the country, Union Bank has hiked the fixed deposit interest rates. The lender now offers an interest rate of 7.3% for the general public. The fixed deposit interest rates by the Union Bank of India now start from 3% and go up to 7.3% depending on the tenure.

Union Bank now offers a return of 3% for fixed deposits with a maturity tenure of 7days to 45 days, 4.05% for FDs with 46-90 days tenure, 4.3% for 91-120 days tenure, 4.4% for 121-180 days tenure and 5.25% for 181 days to less than 1 year tenure. Fixed deposits for the tenure of 1 year to 799 days (except for 599 days and 700 days) will get a return of 6.3% while that for 599 days will earn an interest of 7% and that for 700 days will earn a return of 7.25%.

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Union Bank fixed deposits for 800 days will get a return of 7.3%t and FDs for 801 days to less than 3 years will get an interest of 7.3%. Fixed deposits for 3 years to 10 years will earn a return of 6.7%. The bank is offering an additional rate of 0.5% for senior citizens.


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