Maturity: ₹57,331 at 6.9% p.a. Interest earned: ₹7,331. Senior citizen maturity: ₹57,897.
| Year | Deposit | Interest Earned | Maturity Value |
|---|
A ₹50K Fixed Deposit in Union Bank for 2 Years at 6.9% p.a. (quarterly compounding) will mature to ₹57,331. You earn ₹7,331 as interest, giving a total return of 14.7% on your investment.
At 6.9% p.a. (quarterly compounding), ₹50K FD in Union Bank for 2 Years matures to ₹57,331. Interest earned: ₹7,331. Senior citizen maturity: ₹57,897 at 7.4%.
Union Bank offers 6.9% p.a. for general citizens and 7.4% p.a. for senior citizens on 2 Years Fixed Deposit. The rate applies regardless of the deposit amount.
For ₹50K at 6.9% for 2 Years, you would earn approximately ₹7,331 as interest, making total maturity ₹57,331. Senior citizens earn ₹7,897 at 7.4%.
Yes, premature withdrawal is allowed. Union Bank's policy: 0.50% penalty on applicable rate. You will receive a reduced interest rate on early withdrawal.
Compare with other banks on this page to find the best rates. Bank FDs offer DICGC insurance up to \u20B95 Lakh. Consider both rate and safety.