City Union Bank offers lucrative interest rates to its customers under its RD scheme. The customers can increase their savings by investing in these RD schemes and build up their wealth by making small deposits each month. Investors who do not wish to make lump-sum deposits in one go can also benefit from RD schemes. The RD account holder can make deposits in the multiples of 5 and the deposit is made monthly. Failure to pay the monthly deposit incurs a penalty on the depositor.
City Union Bank provides a special rate of interest to senior citizens, depending on the tenure. Non-Resident Indians can also invest in NRE Recurring Deposit scheme to maintain the RD account in foreign currency.
Rate of Interest P.A – General
Rate of Interest P.A – Senior Citizens
Above 1 year & upto 5 years
Above 5 years & upto 10 years
Rate of Interest P.A
Above 1 Year & upto 5 years
Above 5 Years & upto 10 Years
The customers can also open a short-term RD account with City Union Bank for a tenure ranging from 1-3 years. An interest rate of 7.1% per annum is applicable on deposits for a tenure of 1 year.
The depositors can avail attractive rate of interest for medium and long-term RD through the City Union Bank. The tenure ranges from 1-10 years. An interest rate of 6.85% can be earned on deposits made for a tenure of 1-5 years. For a tenure of 5-10 years, the City Union Bank offers an interest rate of 6.70%. The rate of interest declines with the increase in tenure since the interest is compounded quarterly.
Senior citizens can now enjoy a higher interest rate on their recurring Deposits made with the City Union Bank for term deposits over one year. For a tenure of one year, the depositors earn an interest rate of 7.5% and for tenures ranging from 1-5 years, the interest rate applicable on the depositors is 7.1%
Senior citizens receive an interest rate of 6.95% on their recurring deposits with tenure of 5-10 years
NREs can avail the facilities of Recurring deposit accounts through the City Bank Union which offers both short term and long term deposits. An interest rate of 6.7% is offered on a short-term deposit of tenure of one year. The depositors can earn an interest rate of 6.85% on a tenure ranging from 1-5 years in City Union Bank.