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United Bank FD Interest Rates 2021

United Bank FD Interest Rates

Last Updated 15th Jul 2021

When it comes to the FD interest rate, the highest rate offered on United Bank of India FD is 5.30%. Latest United Bank of India FD interest rate for senior citizens, on the other hand ranges between 3.50% to 5.80%.

Tenure FD interest rates Senior Citizen FD interest rates
7 days to 45 days 3.00% 3.50%
46 days to 90 days 3.25% 3.75%
91 days to 179 days 4.00% 4.50%
180 days to 270 days 4.50% 4.90%
271 days to 364 days 4.50% 5.00%

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.

Earn upto 6.95% on FD APPLY NOW

United Bank Fixed Deposit Features

United Bank of India FDs are one the best investment options available for depositors who are looking to invest in a fixed income instrument and earn higher returns than the savings account. Key Features of United Bank of India Fixed Deposit are:

  • Deposit Amount : United Bank of India FD can be opened with an amount as a low to up to .
  • FD Tenure : Ranges between 7 days to 10 years.
  • Interest Rate Range : 3.00% p.a. to 5.30% p.a.
  • Senior Citizens FD Rate : 3.50% p.a to 5.80% p.a.
  • Highest Interest Rate : As per today’s rate, United Bank of India’s highest interest rate on FD is 5.30% offered for a tenure of 10 years.
  • Safety of United Bank of India Deposits : United Bank of India deposits are covered under the Deposit Insurance Scheme of RBI in which up to ₹ 5 lakh of all deposits of a depositor are insured by DICGC.
  • Loan against FD : United Bank of India provides loan against FD to help its depositor meet their liquidity requirements without breaking the FD.
  • Auto- Renewal Facility : Available
  • Nomination Facility : Available
  • Popular FD Schemes :

United Bank of India FD Interest Rates Today

Interest rates on United Bank of India deposits are updated regularly by the Government of India. The following are updated United Bank of India FD interest rates 2021:

Tenure Interest Rate
7 days to 45 days 3.00%
46 days to 90 days 3.25%
91 days to 179 days 4.00%
180 days to 270 days 4.50%
271 days to 364 days 4.50%
1 year 5.20%
1 year 1 day to 2 years 5.20%
2 years 1 day to 3 years 5.20%
3 years 1 day to 5 years 5.30%
5 years 1 day to 10 years 5.30%

United Bank of India FD Rates for Senior Citizens

With an aim to attract senior citizens above the age of 60 years to invest in the fixed deposits, United Bank of India offers a higher interest rate to senior citizens than the general public. Listed below are the United Bank of India fixed deposits interest rates for senior citizens 2021:

Tenure Interest Rate for senior citizens
7 days to 45 days 3.50%
46 days to 90 days 3.75%
91 days to 179 days 4.50%
180 days to 270 days 4.90%
271 days to 364 days 5.00%
1 year 5.70%
1 year 1 day to 2 years 5.70%
2 years 1 day to 3 years 5.70%
3 years 1 day to 5 years 5.80%
5 years 1 day to 10 years 5.80%

Best FD Plan as per United Bank of India FD Rates

To invest in United Bank of India fixed deposit, you must compare United Bank of India Fixed Deposit Rates for varying tenures. United Bank of India FD Interest Rates 2021 are best for the deposits with a tenure of 3 years 1 day to 10 years, wherein the current United Bank of India Fixed Deposit Interest Rates is 5.30 p.a.

If you are looking to invest in short term deposits with United Bank of India, the interest rate of United Bank of India for FD ranges from 3.00% p.a. to 4.50% p.a. These deposits are known as short term deposits and are offered with a tenure of 7 days to less than 365 days. Short term United Bank of India Fixed Deposit Rates for senior citizens range from 3.50% to 5.00% p.a.

If you want to invest in long term deposits, United Bank of India Fixed Deposit Rates with tenure ranging from 5 years to 10 years are a good choice with interest rates on deposits at 5.30%.United Bank of India Senior citizens FD Rates are offered at special rates with the highest deposit rates of5.80% p.a. on long term FDs.

Below-mentioned is some of the benefits of opening an FD account in United Bank of India:

  • Interest on deposit is paid only at the time of the maturity
  • United Bank of India also offers a nomination facility on its fixed deposits.
  • Extra interest of 0.25% to 0.50% is payable to the senior citizens.
  • Availability of auto-renewal facility on the deposit.
  • Earn higher returns on the money deposited.

United Bank of India Fixed Deposit Rates – Premature Withdrawal

You can close your United Bank of India FD account prematurely, however United Bank of India charges a penalty of 1% for premature withdrawal. Also, The penal provisions for premature closure on United Bank of India FD are subject to change from time to time and may also vary with deposit schemes.

Loan against Fixed Deposit United Bank of India

United Bank of India offers loans up to 90% against its own deposit. Note that United Bank of India will not give you loan against FD of any other bank. United Bank of India offers Loan against FD at the rate of 4% to 6.3%

Illustration - Mr. Rahul has opened a fixed deposit of ₹ 1,00,000 for 2 years in United Bank of India. The borrower later decided to take a loan against his FD. The bank has approved a credit limit of 90% against his FD at 10% interest rate. Now, if the borrower draws ₹ 90,000 on the first of the month and then repays the money on the 1st of next month, then he is supposed to pay the interest on ₹ 90,000 available for 1 month only. The amount he repays after 1 month is ₹ 90,744. So, the interest charged on the loan taken is ₹ 744.

FD Account Opening Process at United Bank of India

To open an United Bank of India Fixed Deposit, follow the steps as mentioned below:

  • Visit the official website of United Bank of India and log in to your FD account.
  • From the menu, choose the Fixed Deposit option, the Type of FD you want to open and click on proceed.
  • Enter the deposit amount and select the ‘Senior Citizen’ option if you are above 60.
  • Now, choose the deposit tenure and interest payout frequency.
  • Finally, click on Submit to open the United Bank of India FD after reading the terms and conditions.

To open a Fixed Deposit account in United Bank of India, you can visit the official website and login to your account. Choose the Fixed Deposit option from the menu and select the Type of FD you want to open and proceed. After this, you have to fill the deposit amount and select ‘Senior Citizen’ option if you are above 60. You have to choose the tenure of deposit and interest payout frequency. Click on Submit to open the United Bank of India FD after reading the terms and conditions.

Nomination Facility on United Bank of India FD

United Bank of India also offers a nomination facility on Fixed Deposit to claim the amount in case of the depositor's death. You can file the details of only 1 nominee when opening an United Bank of India FD account. The nominee has to submit his/her identification proof at the time of claim.

FAQs

What is the highest fixed deposit interest rate for United Bank of India?

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

Are there any special rates for senior citizens FD of United Bank of India?

Yes, senior citizens get a higher rate on their deposits compared to FD rates. The rate of regular FD are in the range of 3.00% to 5.30%. Compared to this, United Bank of India senior citizens FD are in the range of 3.50% to 5.80%.

What are the current United Bank of India FD interest rates 2021?

Current interest for FD in United Bank of India ranges between 3.00% - 5.30%.

Is it possible to change the tenure of my existing fixed deposit account with United Bank of India?

No, it is not possible to alter the tenure selected for the fixed deposit account once the account is opened. However, you may close your existing fixed deposit account and can open a new account with a desired tenure of your choice.

What are the implications of opening an FD bank account without having PAN?

Following are the implications for the customers opening an FD account with United Bank of India without their PAN card

  • Your TDS will be deducted at the rate of 20% as against 10% under section 206AA
  • NO TDS credit from the Income Tax department
  • NO TDS certificate will be issued
  • Form 15G/H and other exemption certificates will be invalid and penal TDS will apply

Can a customer open an FD account online in United Bank of India?

Yes, you can submit your application for opening an FD account on the website of United Bank of India. After submitting the application, you will be contacted by the bank’s representative for the further process, which includes filling an application process and submitting KYC documents.

In how many years FD will double in United Bank of India?

The interest rate on FD depends upon the tenure you choose. To know the time period in which your FD amount will get doubled, you need to divide 72 the 5.30%. For United Bank of India FD the number of years in which your FD will get doubled is; 72/5.30 = 14

What is the interest of 1 lakh in the United Bank of India?

The interest on United Bank of India fixed deposit depends on the tenure of the FD for which it is deposited. Below mentioned is the United Bank of India FD interest rate 2021 across different tenures.

TenureInterest Rate
7 days to 45 days 3.00%
46 days to 90 days 3.25%
91 days to 179 days 4.00%
180 days to 270 days 4.50%
271 days to 364 days 4.50%
1 year 5.20%
1 year 1 day to 2 years 5.20%
2 years 1 day to 3 years 5.20%
3 years 1 day to 5 years 5.30%
5 years 1 day to 10 years 5.30%


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United Bank News - Jul 2021
  • 2021-07-15 : UBI and OBC merged with PNB
    After the merger of UBI and OBC with PNB in April 2020, PNB has now updated the IFSC codes of all the branches of PNB and UBI. New IFSC codes have come into effect from July 1, 2021.
  • 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.
*Terms and conditions apply. Credit at sole discretion of lender, which is subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and collected from public sources. Read More
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