How to Open an RD Account in Union Bank?

Step 1 : Go to Union Bank of India’s online net banking platform and log in using your registered credentials. If you are not already a registered client, go to your local branch and fill out the online banking activation form.

Step 2 : From the main page, choose the ‘E-Recurring Deposit’ option. The screen will display an RD account opening form.

Step 3 : Enter all of your personal information, bank account information, RD amount, and tenure.

Step 4 : If you are applying for senior citizen Union Bank RD interest rates, select the box.

Step 5 : Tap the ‘Proceed’ button.

The bank will debit the first installment from your savings account and notify you when the account is successfully opened.

Union Bank RD Interest Rates 2024

The Union Bank of India is one of India’s major government-owned banks. It offers an array of RD plans with excellent interest rates of up to 5.90%. The Union Bank RD Calculator online may be used to determine the maturity value of a Union Bank RD. The RD calculator instantly computes the maturity value and all you have to do is enter all parameters accurately, such as the monthly investment amount, tenure, and interest rate.

Recurring deposits are simple to set up and you don’t need a large sum of money to do so with Union Bank of India. The minimum deposit required to create an RD account with UBI is ₹100.

Geeky Takeaways:

  • An investor can open a Union Bank RD account with as little as ₹100.
  • You can make more than one payment in a month to give yourself more options.
  • The number of payments can be changed to suit the investor’s needs.
  • The RD plan needs a fair minimum investment, which starts at ₹100.
  • The biggest payment you can make each month is ₹100,000 or ten times the core amount, whichever is less.

Table of Content

  • Union Bank RD Interest Rates 2024
  • Features of Union Bank Recurring Deposit
  • How to Open an RD Account in Union Bank?
  • How to Open an Offline Union Bank RD Account?
  • How to Calculate RD Interest Rates in Union Bank?
  • Eligibility Criteria to Start an RD Account with Union Bank
  • Documents Required for Starting an RD Account
  • Types of Union Bank RD Accounts
  • Union Bank RD Premature Withdrawal Rules
  • Conclusion
  • Frequently Asked Questions (FAQs)

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Union Bank RD Interest Rates 2024

Tenure General Citizens  Senior Citizens Super Senior Citizens  6 months to less than 12 months  5.25% 5.75% 6.00% 12 months  6.30% 6.80% 7.05% More than 1 year to less than 398 days  6.30% 6.80% 7.05% 399 days 7.00% 7.50% 7.75% 400 days to 2 years 6.30% 6.80% 7.05% More than 2 years to less than 3 years 6.30% 6.80% 7.05% 3 years 6.50% 7.00% 7.25% More than 3 years to 5 years 6.70% 7.20% 7.45% More than 5 years to 10 years 6.70% 7.20% 7.45%...

Features of Union Bank Recurring Deposit

1. Minimum Amount : Investors can specify a minimum amount when they start the investment scheme and deposit it as the initial installment....

How to Open an RD Account in Union Bank?

Step 1 : Go to Union Bank of India’s online net banking platform and log in using your registered credentials. If you are not already a registered client, go to your local branch and fill out the online banking activation form....

How to Open an Offline Union Bank RD Account?

If you want to create a Union Bank RD account offline, follow the steps outlined below....

How to Calculate RD Interest Rates in Union Bank?

The RD interest rates on Union bank recurring deposits are compounded quarterly....

Eligibility Criteria to Start an RD Account with Union Bank

One must be eligible to invest in the Union Bank of India RD scheme. The following are the requirements for opening a Union Bank of India RD account:...

Documents Required for Starting an RD Account

For Opening an RD in UNION BANK Investors must ensure that they have the following documents with them :...

Types of Union Bank RD Accounts

1. Regular Monthly Plus...

Union Bank RD Premature Withdrawal Rules

The bank permits a premature cessation of its Recurring Deposit Scheme. The depositor will get the interest amount for the time the RD was active. The depositor will not get interest if the deposit account is closed within a month. The Bank does not impose any penalties for prematurely closing an RD account....

Conclusion

Union Bank of India RD investments require small consistent investments. As a result, individuals who desire to save on a regular basis can engage in this scheme. Furthermore, Union Bank of India RDs offer guaranteed returns. As a result, they are seen as a low-risk investment. However, interest income from Union Bank of India RDs is taxed at the investor’s marginal tax rate. As a result, before investing in this plan, they must evaluate the tax implications....

Frequently Asked Questions (FAQs)

Q1. Can I deposit any amount at the Union Bank RD?...