United Bank of India Fixed Deposit calculator – FD 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.
Fixed Deposit calculator United Bank of India – Will TDS be deducted?
In case the interest earned by you across all your fixed deposits across all branches of United Bank of India in a year exceeds 10000, the bank must deduct TDS at 10.3%. In case your IT PAN is not updated in the United Bank of India records, it must deduct twice the TDS at 20.6%. So, do remember to update your PAN on your FD.
Sorry, but we aren’t done with tax yet. This was only the TDS. Now, you would need to add the interest income on all your United Bank of India FD’s and other FD’s to your taxable income for the year. Based upon your tax bracket, income tax is payable on this income. Remember that you must estimate the interest income and all your other incomes and, based on this, pay advance tax on advance tax payment dates (15th Sep, 15th Dec, 15th March and 31st March).
United Bank of India will also issue you a Form 16A giving details of tax deducted on FD interest and tax deposited by it with government treasury. The TDS amount deposited by the bank with Income Tax Department can be verified in your 26AS statement available online on IT department website or through your net banking account. You can claim credit for the TDS amount in your annual Income Tax Return.
United Bank of India FD interest rate calculator – Check your city
Keep your KYC documents - PAN card, address proof and photo ready.
09th Aug 16 United Bank of India Q1 net down 27 per cent, bad loans rise
United Bank of India reported nearly 27 per cent fall in its net profit to Rs. 38.32 crore for the quarter ended June 30 due to rise in bad loans. The total income of the bank fell by 2.67 per cent to Rs. 2819.37 crore in the June quarter of FY17 from Rs. 2896.75 crore in the June quarter of previous year. Gross NPAs as a percentage of total loans increased to 14.29 per cent in the first quarter of current financial year. Similarly, the net NPA ratio increased to 9.85 per cent, up from 6.30 per cent during same period of previous fiscal.
20th Jul 16 Govt to infuse up to Rs 810 Cr capital in United Bank of India
United Bank of India said that the government has decided to infuse up to Rs 810 crore capital into the bank in the current fiscal year. Government has decided to allocate 75 per cent of the capital to the bank immediately and remaining 25 per cent will be infused depending upon the performance of the bank by the end of 2016. Government has already announced its plan to infuse Rs. 22915 crore in 13 public sector banks like SBI, PNB, Bank of India and Central Bank of India.
15th Jan 16 United Bank of India to cut bulk deposit rates by up to 1.5%
UBI has reduced interest rates by 25 bps -50 bps for deposits up to Rs 1 Cr and by 25 bps to 150 bps for deposits above Rs 1 crore
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