Union Bank of India raises Interest Rates on Deposits

Union Bank of India has announced increase in Interest Rates on Term Deposits across all maturity buckets.

The revised rates would be applicable across various tenures for Domestic Term Deposits, Non-Resident Ordinary (NRO) and Non-Resident External (NRE) Term Deposits.

Interest rates on Domestic/NRO Term Deposits (Below Rs 2 crore) of 46-90 Days tenure increased by 55 bps to 4.05 percent from 3.50 percent, tenure more than one year to two years is increased by 35 bps to 5.45 percent from 5.10 percent. And for tenure 181 days to less than one-year interest rate has been increased by 20 bps to 4.60 per cent from 4.40 per cent earlier.

Interest Rate on NRE / NRO Rupee Term Deposits for below Rs 2 crore for a period of 1 year is increased by 35 bps to 5.35 per cent from 5.00 percent.

Interest Rate on Domestic / NRE / NRO Rupee Term Deposits below Rs 2 crore has been increased by 20-55 bps across tenures.

Shares of Union Bank of India was last trading in BSE at Rs. 35.60 as compared to the previous close of Rs. 35.20. The total number of shares traded during the day was 927428 in over 3279 trades.

The stock hit an intraday high of Rs. 37.15 and intraday low of 34.60. The net turnover during the day was Rs. 32717616.00.

Source : Equity Bulls

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UnionBankofIndia INE692A01016 InterestRates TermDeposits