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City Union Bank Revises Fixed Deposit Interest Rates: Check Current Rates Here

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City Union Bank allows debt investors to open a fixed deposit account online in a hassle-free way. With a range of fixed deposit schemes with attractive interest rates City Union Bank requires a minimum deposit amount of Rs.100/- and multiples thereof to place a fixed deposit for a tenure period ranging from 7 days to 10 years. On its fixed deposits the bank also offers additional interest rates applicable from 1st year for senior citizens, pre-closure and limousine renewal options, loan/overdraft option, and much more. The bank has revised interest rates on its fixed deposits which are in force from 01.08.2021. To know about the latest interest rates on FDs and documents required to open an FD account, please keep on reading.

Documents required to open a fixed deposit account
 

Documents required to open a fixed deposit account

According to the official website of City Union Bank, following is the list of KYC documents required for opening an account.

ID proof:

  • Passport
  • PAN card
  • Voter's Identity Card
  • Driving license
  • Identity card /confirmation from the employer/other bank (subject to branch's satisfaction)
  • ID card issued by recognised Educational Institutions
  • ID issued by Postal Authorities
  • Letter from a recognised public authority or public servant (not below the rank of the Tahsildar) verifying the identity and residence of the customer to the satisfaction of the bank
  • Job card issued by NREGA duly signed by an officer of the State Government
  • Letter issued by the Unique Identification Authority of India containing details of name, address & Aadhar number

Address proof:

  • Passport
  • Voter's Identity card
  • Driving licence
  • Telephone bill (not older than two months - installation should be at least before 6 months)
  • Bank account statement
  • Letter from a recognized public authority or public servant (not below the rank of the Tahsildar) verifying the identity and residence of the customer to the satisfaction of the bank.
  • Electricity bill (latest)
  • Ration card
  • Letter from employer (subject to satisfaction of the bank)
  • ID issued by Postal Authorities
  • Job card issued by NREGA duly signed by an officer of the State Government
  • Letter issued by the Unique Identification Authority of India containing details of name, address & Aadhar number.
  • Consumer Pass Book issued by Gas Agency
  • A rent agreement indicating the address of the customer duly registered with the State Government or similar registration authority.
City Union Bank Domestic Term Deposit Interest Rates

City Union Bank Domestic Term Deposit Interest Rates

The following domestic term deposit interest rates are effective as of 01.08.2021. For NRO deposits, only the rates listed under the General category will apply; the senior citizen rate will not apply.

PeriodGeneralSenior CitizensBulk Deposit (Rs.2.00cr & above)
7 days to 14 days 3.00% 3.00% 3.00%
15 days to 45 days 3.00% 3.00% 3.00%
46 days to 90 days 3.25% 3.25% 3.00%
91 days to 180 days 3.50% 3.50% 3.00%
181 days to 270 days 3.75% 3.75% 3.00%
271 days to 364 days 4.75% 4.75% 3.00%
365 days 5.00% 5.50% 5.25%
366 days to 550 days 5.00% 5.50% 3.25%
551 days to 2 years 5.25% 5.75% 3.30%
Above 2 years and up to 3 years 5.00% 5.50% 3.00%
Above 3 years and upto 5 years 5.00% 5.00% 2.50%
Above 5 years and upto 10 years 5.00% 5.00% 2.00%
Source: Bank Website, Tax Saver Schemes (both for General category and Senior Citizens) ROI p.a 5.25%

City Union Bank NRE Term Deposits Rates (Senior citizen rate not applicable)

City Union Bank NRE Term Deposits Rates (Senior citizen rate not applicable)

If you close your NRE deposit before one year is over, you won't get any interest. Preclosure of an account after 1 year but before maturity will result in a penalty, as determined by the bank's existing policy.

PERIODRate of Interest % p.a
365 days to 550 days 5.00%
551 days to 2 years 5.25%
Above 2 Years and up to 10 Years 5.00%
Source: Bank Website, W.e.f. 01-08-2021

 

Story first published: Tuesday, August 31, 2021, 13:23 [IST]
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