The City Union Bank offers a decent interest rate for both normal and senior citizens for domestic deposit of amount about Rs. 1 Crore. However, the senior citizens can grab the maximum interest rate of 7.50% for the domestic deposit of the same amount ( Rs. 1 Crore) for a period of 1 year. Normal people can enjoy 7.35% for the same case.
The interest rate for domestic deposit of amount above 1 Crore for general people is 7.35%, at the maximum maturity period of 5 years to about 10 years.
Tax saver fixed deposit:
City Union Bank also offers Tax Saver Fixed Deposit of amount about 1 lakh per financial year, and the interest rate would be 7.50% for the normal people. Interest would be 7.50% for the above case for senior citizens. The below rates are effective from 9 January 2019
City Union Bank Fixed Deposit Interest Rates Feb 2019 (Domestic/NRO Deposits):
| Time Period | Interest Rates ( Normal )
(% p.a.) |
Interest Rate (Senior citizens) (% p.a.) |
| 7 Days to 14 Days | 6.25% | 6.25% |
| 15 Days to 30 Days | 6.25% | 6.25% |
| 31 Days to 45 Days | 6.25% | 6.25% |
| 46 Days to 60 Days | 6.25% | 6.25% |
| 61 Days to 90 Days | 6.25% | 6.25% |
| 91 Days to 180 Days | 6.75% | 6.75% |
| 271 Days to 1 Year | 7.00% | 7.00% |
| 1 Year | 7.35% | 7.50% |
| 1 Year to 1.5 Year | 7.35% | 7.50% |
| 1 Year to 2 Years | 7.35% | 7.50% |
| 2 Years to 3 Years | 7.35% | 7.50% |
| 3 Years to 5 Years | 7.35% | 7.50% |
| 5 Years to 10 Years | 6.70% | 6.95% |
If you are going with NRE Fixed Deposit, then for an amount of 1 Crore, the maximum interest rate would be 7.35% for a maturity period of 1 year. In the above case, the interest becomes 6.70% where the maturity period is 5 years up to 10 years.
City Union Bank NRE Term Deposit rates Feb 2019:
| PERIOD | Rate of Interest
(% p.a) |
|---|---|
| 1 Year | 7.35% |
| 1 Year to 5 years | 7.35% |
| 5 Years to 10 Years | 6.70% |
Updated: 2 February 2019
Important Notes:
- The rate of interest will be 4% p.a. for both domestic and NRE saving accounts.
- 1% penalty will be charged for closing deposits before maturity time.
- Age of senior citizens should be above 60 years.
- Senior citizen rates are not applicable to NRE Deposits
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However, it is recommended to visit the official website for having complete detail about the interest rates.
Check out more detail @ http://www.cityunionbank.com/english/deposit.aspx
I am a senior citizen. I wish to know what is the percentage of interest on cash certificate deposit for one year. Illustration with a deposit of One Lake is solicited.