Union Bank Of India Interest Rates On Saving Account
- Savings bank deposits of up to Rs.50 lakhs receive an interest rate of 3.50% p.a and deposits of more than Rs.50 lakhs are given an interest rate of 4%. Is Netbanking services charged? Using of Netbanking facilities is free of charge.
- Is there a minimum deposit required to open a Union Savings Bank personal savings account? The minimum opening deposit varies depending on the type of savings account: Club Savings and Young Savers Account is $5.00; Essential Savings is $25, Landlord/Tenant Savings is $100.00; and Access Savings is $300.00.
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Union Bank Of India Fixed Deposit Interest Rate Calculator calculates the interest earned on a fixed deposit with the help of outlined components:
(1) Deposit Amount
Savings account interest rate is calculated on a daily basis i.e. Closing balance in the account maintained in the savings bank account type; the rate is specified by YES BANK in accordance with Reserve Bank of Indian directives. Union Bank of India Interest RatesUnion Bank of India is a large domestic bank in India. It began back in 1919 and today has a large branch network of 2800 across the country. It has its headquarters in Mumbai and at 2012 had a client base of greater than 24 million.
It is an amount which an FD account holder wants to invest in the fixed deposit. It is also called principal. It is to be remembered that this amount can be deposited only once hence you have to decide the amount to be invested according to your investment objectives.
(2) Interest Rate
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It is the rate of interest offered by the bank where you open the FD. It differs for different tenures. Once FD is opened for a specific tenure then the interest rate will remain the same for the whole tenure.
Union Bank Of India Interest Rates On Saving Account 2021
(3) Term of Deposit (FD Tenure)
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It is the duration for which the amount is invested in an FD which may vary from 7 days to 10 years. In the calculator, you can select the tenure in days, months or year.
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(4) Compounding of Interest
Interest can be compounded on monthly, quarterly, half yearly or annual basis. It can be a simple interest as well. You need to enter it based on the offer by the bank.