Senior Citizens Fixed Deposit Interest Rates in Union Bank of India

Established in 1919 in Mumbai, the Union Bank of India has a majority shareholding of the Government of India. This is one of the oldest banks in India and hence holds a sense of security amongst the citizens. 
 

Fixed deposits are the most secure investment option and are best for senior citizens because of their low-risk features. Let’s learn how senior citizens are offered attractive interest rates in Union Bank FDs.

Like most other banks, Union Bank also offers attractive interest rates to senior citizens. The rates are as follows:

Fixed Deposit interest rate- For Domestic/NRO/NRE

Note-

• These rates are valid from  from 27.12.2023.
• Senior Citizen Rates do not apply to NRIs. 
• The minimum tenure for NRE Deposit is 1 Year.

Eligibility:
To open a senior citizen FD account, you must:

• Be 60 years or above on the day of application.
• Be 80 years or above for opening a super senior citizen FD account.

At the time of opening a new fixed deposit account, the Senior/super senior citizen is required to submit any of the following documents as proof of age.

• Senior School Leaving Certificate indicating date of birth
• LIC Policy
• Voters identity card
• Pension Payment Order
• Birth Certificate issued by the competent authority
• Passport
• Any other document acceptable to the bank