Union Bank of India is a public-sector banking institution providing retail banking solutions to its customers. Fixed deposits form a part of its retail product suite.

These schemes come at attractive interest rates and varying holding periods to suit the savings and investment needs of its customers.

Union Bank Short-Term FD Rates
The shortest period of holding on offer is 30 days and features a 5.50% rate of return. Their 60 and 90 days deposit schemes provide 1.00% higher returns at 6.50%.
This is followed by the rate on the 120-day scheme, which stands at 6.75%.
The banks short-term schemes are rounded off at 7.25% for holdings of 6 and 9 months.

Union Bank Medium and Long-Term FD Rates
The interest rate remains constant at 7.55% for holdings between 2 and 3 years, while the rate is 7.50% for deposits that mature in 1 year.
These are the highest rates offered by Union Bank on its fixed deposits.
Further up, 4 and 5 year maturities account for 7.50%, while tenures above 5 years to 10 years fetch a reasonable 7.25%.

Union Bank Senior Citizens FD Rates
Senior citizen customers at Bank are offered a considerable increase in returns on their savings with a 0.5% hike on the existing medium and long-term FD rates.
This brings returns to 8.00% on holdings that mature in 1 year, while those 2 and 3 years account for 8.05%.
The next tenure slab of 4-5 years is marked at 8.00%, while all tenures above 5 years amount to 7.75%.

The rates mentioned above are compounded on a bi-annual basis. With longer deposit terms on offer, account holders stand to earn higher returns on a long-term basis.