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United Bank of India FD Calculator

United Bank of India Fixed Deposit Calculator 2020

Last Updated 01st Sep 2020

United Bank of India FDs have tenures ranging from 3 years 1 day to 10 years with maximum rate of interest of 5.30%. Interest rates for senior citizens are higher than the normal rates and ranges upto 5.80%.

Tenure Rates Maturity Amount for ₹ 1 Lakh
7 days to 45 days 3.00% to 3.50% ₹ 1,00,058 - ₹ 1,00,432
46 days to 90 days 3.25% to 3.75% ₹ 1,00,410 - ₹ 1,00,925
91 days to 179 days 4.00% to 4.50% ₹ 1,00,997 - ₹ 1,02,219
180 days to 270 days 4.40% to 4.90% ₹ 1,02,181 - ₹ 1,03,668

United Bank of India has merged into Punjab National Bank on April 1, 2020. The interest rates of Punjab National Bank will now be applicable on United Bank of India.

United Bank of India FD Maturity Calculator
Investment Offers with High Returns offerOffers
Bank/NBFCs Rate Tenure Action
Bajaj Finance FD7.35%60 MonthsAPPLY
PNB Housing Finance FD7.20%120 MonthsAPPLY
DBS Bank Savings Account5.00%N.A.APPLY

United Bank of India Fixed Deposit Calculator

United Bank of India fixed deposit calculator helps you to calculate maturity value of your deposited amount at the interest rate offered compounded at quarterly. The amount of fixed deposits, interest rates on FD, deposit tenure and compounding frequency of interest together determine the maturity amount of the FD at the end of the tenure.

  • Deposit amount – This is the initial amount deposited by a customer in United Bank of India. Bank may allow higher interest rate on larger deposits. United Bank of India offers deposit amount in the range of 1,000 to No Limit.
  • Rate of Interest - Interest rate is the rate charged by the bank on your fixed deposit. United Bank of India offers a higher rate of interest on fixed deposits of longer tenure and lower interest rate on deposits of less than a year. Highest interest rate offered by United Bank of India is 5.30% for deposit amount below Rs. 1 crore corresponding to a deposit tenure of 3 years 1 day to 10 years.
  • Period of deposit - Bank offers low interest rate for short tenure FDs and higher interest rate for long tenure FDs. Bank offers a rate of 3.00% for a 3 years 1 day FD and a rate of 5.30% for a 10 years FD.
  • Interest Compounding Frequency - This determines the frequency at which interest is compounded. Compounding frequency can be monthly, quarterly, half yearly or annual frequency.
  • TDS applicability and TDS rate
    • Illustration: Mr. A opens a FD account of ₹ 1,00,000 with a tenure of 7 days at an interest rate of 3.00%. In this case, the maturity amount at the end of 7 days will be ₹ 1,00,671 which includes the principal of ₹ 1,00,000 and interest of ₹ 671 is earned on the principal amount during the period. Similarly, you can calculate the interest and maturity amount for higher tenures by using FD calculators.

      United Bank of India calculates quarterly interest on its fixed deposits. You can also opt for tax saving scheme to save tax on fixed deposit.

United Bank of India Fixed Deposit Interest Calculator – Interest Payment Options

  • In a periodic interest payout option, United Bank of India would transfer the interest earned at each interval (say, quarterly) to your bank account. The interest would remain the same across the life of the deposit. On maturity, unless the deposit is renewed, would transfer the principal amount to your bank account.
  • In case you opt for a United Bank of India cumulative deposit, on maturity you would get a credit for the principal and interest earned net of TDS.
  • Calculate the FD maturity amount using the FD calculator.

FD Maturity Calculator

The interest earned on a fixed deposit in United Bank of India depends on the deposit amount, interest applicable, deposit tenure and the type of interest calculation frequency. Interest on United Bank of India FD can be calculated monthly, quarterly, half-yearly and annually. The interest rates for senior citizens are higher than normal rates of United Bank of India FD.

Suppose if you make an investment of ₹ 1,00,000 in United Bank of India FD for a 5-year tenure at an interest rate of % for depositors below 60 years and % for senior citizens. The maturity amount for this deposit amount is ₹ 1,00,000 and the total interest earned is ₹ 0 for below 60 years age citizens. However, the interest earned for senior citizens is ₹ 0 which is higher. The maturity schedule of United Bank of India FD for 5 years is explained below in the table –

Maturity Schedule for ₹ 1,00,000 FD at % for Citizens below 60 years and at % for Senior Citizens for 5 years

Year Citizens below 60 Years of Age Senior Citizens above 60 Years
Interest Earned Closing Balance Interest Earned Closing Balance
2020 ₹ 0 ₹ 1,00,000 ₹ 0 ₹ 1,00,000
2021 ₹ 0 ₹ 1,00,000 ₹ 0 ₹ 1,00,000
2022 ₹ 0 ₹ 1,00,000 ₹ 0 ₹ 1,00,000
2023 ₹ 0 ₹ 1,00,000 ₹ 0 ₹ 1,00,000
2024 ₹ 0 ₹ 1,00,000 ₹ 0 ₹ 1,00,000
2025 ₹ 0 ₹ 1,00,000 ₹ 0 ₹ 1,00,000

United Bank of India FD Calculator Formula

Along with online FD Calculator, you can use the formula to do the mathematical calculation of the maturity amount and interest earned on United Bank of India FD.

A = P (1 + r/n) ^ n*t
In the above formula –

  • A - Amount received on maturity
  • P – Deposit amount
  • r - Annual interest rate
  • n - Number of times the interest is compounded
  • t is Investment tenure

FAQs

What is the highest interest earned on United Bank of India fixed deposit?

You can earn a maximum interest of 5.30% on United Bank of India fixed deposit.

How is United Bank of India FD interest calculated?

The formula to calculate interest on United Bank of India FD is
A = P(1+r/n)^nt
Here: A = Maturity amount
P = Invested amount
r = Interest rate as decimal
n = number of times interest is compunded
t = tenure of deposit
However, you can use online FD calculator to estimate the value of interest earned on the deposited amount.

How many years FD will double in United Bank of India?

The growth of United Bank of India FD depends on the rate of interest and tenure. There is a method called Rule 72, which computes the number of years it will take to double one’s amount invested in United Bank of India FD. Now to apply the rule, one needs the rate of interest we get on FD. Let’s say the interest offered on FD is 7.35%. Now applying the rule, just divide the number 72 by the rate of interest. So 72/7.35 = 9.80. So it will take a little more than 14 years for one’s investment to get doubled in United Bank of India.

What are the minimum and maximum amounts that I can invest in an United Bank of India FD?

The minimum investment limit in United Bank of India Fixed deposit account is ₹ 1,000 and there is no maximum investment limit on FD.


United Bank News - Sep 2020
  • 2019-07-31 : United Bank of India posted Rs. 105 crore profit in the first quarter
    United Bank of India (UBI) has reported a profit of Rs. 105 crore during the first quarter of FY19-20 as against Rs. 389 crore loss a year ago. The total banking business grew by around 3% during this period. Following the footsteps of other lenders, UBI is also planning to bring down the fixed deposit rates after some time. Moreover, it is planning to achieve growth across retail loans and MSME loans to 60% by 2020.
  • 2018-12-13 : United Bank of India hikes Fixed deposit rates by 0.25%
    United Bank of India (UBI) has raised interest rates on its fixed deposit (FD) by 0.25% across select maturities. With the increase, the fixed deposit rate for one-year tenure will increase to 6.5% from existing 6.35%. While the interest rate for fixed deposits between 1-3 years will increase to 6.25% from 6 percent. The bank has revised the rate of interest on domestic term deposits for less than Rs. 1 crore, with effect from December 14, 2018.
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