Union Bank of India RD Interest Rates is determined by changes in RBI monetary policy such as repo rate, base rate, etc, the internal liquidity position of banks, economic conditions, and the level of credit demand.
Union Bank of India RD (Recurring Deposit) is an account that offers a monthly investment option with a handsome return at the end of specified years with an option to extend the accounting period. It gives you a higher rate of interest than a savings bank account. Union Bank of India (UBI) Recurring Deposit interest rates are quite competitive and are higher than the rates on their savings deposits.
The longest permissible term offered by Union Bank of India (UBI) for RDs is 10 years. Generally, the longer the term of deposit, the higher is the rate of interest.
Latest Union Bank of India RD Rate of Interest:
Current RD interest rates in the Union Bank of India are tabulated below. Here RD rates range is given for different deposit tenure from 6 months – 10 years.
Revised Interest Rates on Retail Domestic Recurring Deposit in Union Bank of India (UBI): (All figures in % per annum)
| Bank Name | Tenors | Rates For Public | Rates for Senior Citizens | As on Date |
|---|---|---|---|---|
| UBI | 180 Days | 5 | 5.5 | 2024-09-09 |
| UBI | 181 Days to <1 Year | 6.35 | 6.85 | 2024-09-09 |
| UBI | 1 Year | 6.8 | 7.3 | 2024-09-09 |
| UBI | >1 Year to 2 Years | 6.6 | 7.1 | 2024-09-09 |
| UBI | >2 Year to 3 Years | 6.7 | 7.2 | 2024-09-09 |
| UBI | >3 Years to 5 Years | 6.5 | 7 | 2024-09-09 |
| UBI | >5 Years to 10 Years | 6.5 | 7 | 2024-09-09 |
You may check the updated Union Bank of India Interest rate on RD at Union Bank of India’s official website here.
Check the Union Bank of India FD Interest rates
How is the UBI’s RD rate of interest calculated?
RD interest rates of Union Bank of India (UBI) are determined by changes in RBI monetary policy such as repo rate, base rate, etc, the internal liquidity position of banks, economic conditions, and the level of credit demand.
The interest you earn on your deposited amount in RD depends on a lot of factors such as the invested amount, tenure for the deposit, rate of interest, and compounding frequency.
One of the best ways to calculate the interest earned on your RD is using the Union Bank of India RD calculator available over the internet. It is the most hassle-free way of calculating interest.
You may Calculate the Union Bank of India (UBI) RD Interest rate by using: RD Calculator
This RD Calculator for Union Bank of India RD requires some data like – Your Monthly Deposit Amount, Rate of Interest on RD by UBI, Period (in No. of Months), interest Compounding Frequency. After calculation, you will get the Maturity Amount after the maturity period and Effective yield in %.
