City Union Bank revises rates of interest on mounted deposits: Details inside

City Union Bank, a personal sector lender, modifies the rates of interest on mounted deposits beneath ₹2 crore. The new charges are efficient as of September 1, 2022, and they’re relevant to home time period deposits, based on the financial institution’s official web site. After the adjustment, the financial institution is now guaranteeing an rate of interest on mounted deposits with maturities starting from 7 days to 10 years between 4.00% and 6.00% for most people and 4.00% to six.25% for senior residents.

City Union Bank FD Rates

The financial institution is presently providing an rate of interest of 4.00% on mounted deposits with maturities between 7 and 14 days, and 4.10% on time period deposits with maturities between 15 and 45 days. Fixed deposits with maturities between 46 and 90 days will now earn curiosity at a price of 4.15%, whereas time period deposits with maturities between 91 and 180 days will now pay curiosity at a price of 4.25%. Fixed deposits maturing from 181 days to 270 days will now earn curiosity at a price of 4.50%, whereas time period deposits maturing from 271 days to 364 days will earn curiosity at a price of 5.00%. 

On mounted deposits maturing in three hundred and sixty five days to 399 days, City Union Bank is now providing an rate of interest of 5.50%, whereas the financial institution will even assure an rate of interest of 5.60% on mounted deposits maturing in 400 days. The financial institution will now assure an rate of interest of 5.50% on mounted deposits maturing in 401 to 699 days, and an rate of interest of 5.75% on time period deposits maturing in 700 days. The financial institution is presently giving an rate of interest of 5.50% on time period deposits maturing in 701 to 10 years and 6.00% on tax-saving mounted deposits with a maturity time period of 5 years.

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City Union Bank FD Rates (cityunionbank.com)

City Union Bank has talked about on its web site that “For NRO deposits, the above charges beneath General class will alone be relevant i.e., senior citizen price shouldn’t be relevant.”

On the opposite hand, the personal sector lender RBL Bank introduced an rate of interest hike on financial savings accounts. As per the official web site of the financial institution, the brand new charges will likely be in drive from fifth September. The RBL Bank, one of many personal sector banks, is now giving a most rate of interest of 6.25% on financial savings account deposits of above ₹25 lakh and as much as ₹7.5 crore.

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