Vijayawada, Andhra Pradesh: Union Bank of India organised a bike rally to promote the special 444-day deposit scheme and encourage the habit of savings among the public.
The rally started from BRTS road at Saradha College Junction and passed through Padavala Revu Centre, Eluru Road and Sitharampuram Junction, before concluding at BRTS road. The event was flagged off by Union Bank General Manager Ch. V.N. Bhaskara Rao.
Speaking on the occasion, Mr. Bhaskara Rao said that the primary objective of the programme was to create awareness about the bank’s special deposit schemes and to inculcate a strong savings culture among people. Under the 444-day special deposit scheme, the bank is offering an attractive interest rate of 6.60 per cent for general customers, 7.10 per cent for senior citizens and 7.35 per cent for super senior citizens. The scheme provides an opportunity for customers to earn higher returns on their savings, he said.
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Vijayawada Regional Manager M.V. Tilak, Deputy Zonal Manager M. Seetharama Rao, Assistant General Managers, officers and a large number of bank employees participated in the rally.
The FD rates offered by Union Bank of India are:
| Period | Revised Interest Rate |
| < Rs. 3 Cr | |
| 7-14 Days | 2.75 |
| 15 -30 Days | 3.00 |
| 31-45 Days | 3.25 |
| 46 -90 Days | 4.50 |
| 91-120 Days | 4.75 |
| 121-180 Days | 5.50 |
| 181 -270 Days | 5.75 |
| 271-364 Days | 6.10 |
| 1 Yr. | 6.30 |
| > 1 Yr. to 399 days | 6.30 |
| 400 Days | 6.40 |
| 401 to 443 days | 6.30 |
| 444 days (New Slab) | 6.60 |
| 445 Days to 2 Yrs | 6.30 |
| >2 Yrs to 996 days | 6.25 |
| 997 days | 6.20 |
| >998 days to 3 Yrs | 6.25 |
| > 3 Yrs to 10 Yrs | 6.00 |
Union Bank of India offers an additional rate component to resident senior and super senior citizens on term deposits up to Rs. 5.00 Crores in all of its domestic term deposits scheme. The additional rate component, applicable to resident senior citizen deposits is 0.50% over and above the normal rates displayed above.
The additional rate component applicable to resident super senior citizens is 0.75% over and above the normal rate displayed above (0.25% over and above rate applicable to resident senior citizen). The additional rate on super senior term deposits would be applicable for the term deposits opened/renewed on or after 01.12.2022.
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