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Is Union Bank's Fixed Deposit Right for You in 2023?

blog-image
May 10, 2023
5 Minutes

### Unlock Your Financial Potential with Union Bank Fixed Deposits

Explore the stability and growth offered by Union Bank of India's attractive fixed deposit (FD) options. As a government-backed bank under the Ministry of Finance, Union Bank presents itself as a trustworthy financial institution, catering to a vast clientele of over 120 million. Opting for Union Bank FDs can be a strategic choice to enhance your extra funds over a chosen timeframe.

### Key Advantages of Union Bank FDs:

  • Diverse Schemes: Union Bank offers a variety of FD schemes with flexible durations ranging from 7 days to a decade, addressing different investment preferences.
  • Liquidity Advantage: Enjoy easy and swift access to your funds whenever needed, ensuring excellent liquidity.
  • Attractive Interest Rates: Benefit from competitive interest rates across all FD plans with Union Bank, maximizing returns. Senior citizens receive an additional 0.50% interest boost.

### Popular Union Bank FD Plans:

  • Short Deposit Receipt: Perfect for short-term investments, starting at a minimum period of 7 days and requiring at least Rs. 5 lakh for 7-14 days.
  • UBI Fixed Deposit Receipt: Offers flexible durations from 7 days to 10 years, requiring at least Rs. 10,000, with interest paid quarterly.
  • Monthly Income Scheme: Designed for regular monthly income seekers, with seniors receiving an extra 0.50% interest on deposits over 1 year.
  • Deposit Reinvestment Certificate: Provides the highest returns through quarterly compounding, with the interest disbursed along with the principal, available for 6 months to 10 years.
  • Tax Saver Deposit: Facilitates tax savings under Section 80C of the Income Tax Act, demanding a minimum deposit of Rs. 5000 and imposing a 5-year lock-in period.

### How to Open a Union Bank FD:

Customers can conveniently open a Union Bank FD account via the Mobile App, Internet Banking, or offline means. The process is designed to be straightforward, ensuring a seamless user experience. Additionally, Union Bank provides loans against fixed deposits, enabling customers to fulfill financial needs while preserving their savings.

### Final Thoughts:

Union Bank of India stands as a comprehensive financial ally, delivering a variety of fixed deposit schemes with appealing interest rates and adaptable duration options. Whether aiming for short-term profits or long-term investment prospects, Union Bank's FD offerings are crafted to meet your financial goals. Begin your investment journey with Union Bank FDs today to secure and grow your financial future.

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Author
Team Pluto
Have a question?
Digital GoldInvest in 24K Gold with Zero making ChargesLearn More
Digital SilverInvest in silver with Zero making ChargesLearn More
Pluto FixedEarn from 11% to 14% Returns annually in a fixed lock-in periodLearn More
Invest Smarter, Here's how to achieve Your Dreams 80% Faster - Let’s Get Started!Trusted by 3 Crore+ Indians
Dream Home
Dream Wedding
Dream Car
Retirement
1st Crore
credit-cards

Is Union Bank's Fixed Deposit Right for You in 2023?

blog-image
May 10, 2023
5 Minutes

### Unlock Your Financial Potential with Union Bank Fixed Deposits

Explore the stability and growth offered by Union Bank of India's attractive fixed deposit (FD) options. As a government-backed bank under the Ministry of Finance, Union Bank presents itself as a trustworthy financial institution, catering to a vast clientele of over 120 million. Opting for Union Bank FDs can be a strategic choice to enhance your extra funds over a chosen timeframe.

### Key Advantages of Union Bank FDs:

  • Diverse Schemes: Union Bank offers a variety of FD schemes with flexible durations ranging from 7 days to a decade, addressing different investment preferences.
  • Liquidity Advantage: Enjoy easy and swift access to your funds whenever needed, ensuring excellent liquidity.
  • Attractive Interest Rates: Benefit from competitive interest rates across all FD plans with Union Bank, maximizing returns. Senior citizens receive an additional 0.50% interest boost.

### Popular Union Bank FD Plans:

  • Short Deposit Receipt: Perfect for short-term investments, starting at a minimum period of 7 days and requiring at least Rs. 5 lakh for 7-14 days.
  • UBI Fixed Deposit Receipt: Offers flexible durations from 7 days to 10 years, requiring at least Rs. 10,000, with interest paid quarterly.
  • Monthly Income Scheme: Designed for regular monthly income seekers, with seniors receiving an extra 0.50% interest on deposits over 1 year.
  • Deposit Reinvestment Certificate: Provides the highest returns through quarterly compounding, with the interest disbursed along with the principal, available for 6 months to 10 years.
  • Tax Saver Deposit: Facilitates tax savings under Section 80C of the Income Tax Act, demanding a minimum deposit of Rs. 5000 and imposing a 5-year lock-in period.

### How to Open a Union Bank FD:

Customers can conveniently open a Union Bank FD account via the Mobile App, Internet Banking, or offline means. The process is designed to be straightforward, ensuring a seamless user experience. Additionally, Union Bank provides loans against fixed deposits, enabling customers to fulfill financial needs while preserving their savings.

### Final Thoughts:

Union Bank of India stands as a comprehensive financial ally, delivering a variety of fixed deposit schemes with appealing interest rates and adaptable duration options. Whether aiming for short-term profits or long-term investment prospects, Union Bank's FD offerings are crafted to meet your financial goals. Begin your investment journey with Union Bank FDs today to secure and grow your financial future.

Available on both IOS and AndroidTry Pluto Money Today 👇
Author
Team Pluto
Have a question?
Digital GoldInvest in 24K Gold with Zero making ChargesLearn More
Digital SilverInvest in silver with Zero making ChargesLearn More
Pluto FixedEarn from 11% to 14% Returns annually in a fixed lock-in periodLearn More