Union-Bank-of-India-Saving-Account-Calculator

Union Bank of India Saving Account Calculator

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This Union Bank of India Saving Account Calculator is an online personal finance tool to calculate the total maturity amount and the total effective yield based on the selection of monthly, quarterly, semi-annually, and annually compound frequencies, interest rates, and total time period of the deposited money in the Bank.

(Calculate your Union Bank of India (UBI) saving maturity amount by using this Saving Calculator)

Monthly Deposit Amount :
Rate of Interest :
Period (in Months) :
(fractions not allowed)
Frequency of Compounding :
Maturity Amount (Rs.) :
Invested Amount (Rs) :  
Wealth Gain (Rs) :  
Effective Yield in % :  

Note: The more frequent the interest is compounded, the higher the return or the future worth of your savings will be; For instance, the future value of savings with interest compounded at Monthly frequency (i.e., 12 times a year) will be higher than the same with interest compounded at quarterly (4 times a year) interval, which in turn is better than semi annual (twice a year) compounding.

Union-Bank-of-India-Saving-Account-Calculator

Union Bank of India Saving Calculator Variables:

This saving calculator uses five different investment variables that most of the calculator requires. These saving calculator variables are:

Monthly Deposit Amount: This is a fixed monthly amount that is invested in a saving scheme. This deposit amount varies from person to person and scheme to scheme.

Rate of Interest: The Rate of Interest is the variable of the saving calculator that appears as a percentage and is different for different types of saving options. Union Bank of India offers 3.0% p.a. (w.e.f. 31.03.2020) rate of interest on saving accounts.

Period of Investment: The length of the investment or period for the investment in months is another factor that plays a major role in the saving calculator. The longer investment increases the compounding of the returns and hence greater rewards are generated.

Maturity Amount: The desired or required amount that an investor wants at the end of the investment life cycle is known as the final amount or maturity amount.

Effective yield: The effective yield is that variable of the saving calculator that appears as a percentage and is used to compare the effectiveness of different types of saving options. This saving variable matters the most to the investors.

How the Union Bank of India Saving Calculator Works?

Anyone can calculate his saving returns from the Union Bank of India account through an online saving calculator available on this page with high accuracy.

Following are the steps to calculate the saving returns through this calculator:

  • Step 1: Enter the fixed monthly amount that he wants to deposit every month.
  • Step 2: After this, fill the rate of interest that he gets from his bank or financial institution for the specified period. Different banks or financial institutions offer different rates of interest-based on the amount of investment and period of investment.
  • Step 3: The next step that one has to follow is to select the period for saving in months. It depends on saving option requirement for which he wants to stay invested.
  • Step 4: Thereafter choose the frequency of compounding. The frequency of compounding may be monthly, quarterly, half-yearly, or yearly.
  • Step 5: After submitting all variables required by saving a calculator, one will get the final maturity amount for investment query with effective yield.

Features of Union Bank of India saving account:

  • Simplest deposit option available to the depositor.
  • ATM cum Debit card issued without any charge.
  • 20 leaves of checkbook free per year
  • Free Accidental Insurance cover by Debit Card usage.
  • Tabulous Banking facility to open accounts from your home/office *
  • New Generation banking facilities
    1. Anywhere / Any Time Banking through -Branch Banking/ATM Banking/Net Banking/Phone Banking.
    2. Free Internet Banking Facility – Unique facility of Self User Creation & Password Reset.
    3. Self-generation of ATM pin for customers by calling the toll free IVR using their registered mobile number.
    4. Remittance products on ATMs viz. NEFT, IMPS, Union e-Cash, and Investments into Mutual funds.
    5. U- Mobile facility – facilitates Balance Enquiry, NEFT, Bill Payment, Mobile Recharge, etc. through your mobile phone.
    6. Earn Rewardz points on your Debit card spend.
  • Zero balance facility. A Student can open a Regular Saving Account with zero balance.
  • Provision for nomination.

Eligibility to open Union Bank of India saving account:

Any Resident Individual – Single Accounts, Two or more individuals in Joint Accounts, Illiterate Persons, Visually Impaired persons, Purdanasheen Ladies, Minors, Associations, Clubs, Societies, etc. Trusts, Institutions/Agencies specifically permitted by the RBI.

You are here to calculate the maturity value of your money in Union Bank of India saving account. Calculate the maturity value with this online Union Bank of India (UBI) saving account calculator. 

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