Union Bank of India has unveiled a new 377-day Fixed Deposit (FD) scheme in 2025, offering investors a lucrative opportunity to earn higher interest on their short-term savings. This exclusive deposit plan provides returns above the regular FD rates, making it a preferred choice for individuals seeking safety, consistency, and assured income within a limited period.
About the 377-Day Special Fixed Deposit
The Union Bank 377-day FD scheme offers a distinctive tenure that balances short-term flexibility with rewarding returns. It caters to both regular depositors and senior citizens, ensuring guaranteed interest rates and steady income. Investors can open this time-bound FD through any Union Bank branch, internet banking, or mobile banking app, making the process seamless and accessible.
Interest Rates and Key Benefits
To attract investors, Union Bank is offering higher-than-usual interest rates under this special FD. Regular customers can earn an annual return of approximately 7.25%, while senior citizens are eligible for up to 7.75%. The interest is compounded quarterly, enhancing the overall maturity value. Once the FD matures, the principal and accumulated interest are credited directly to the investor’s account, ensuring complete liquidity and convenience.
Eligibility and Minimum Investment
This scheme is open to all resident individuals, senior citizens, and Hindu Undivided Families (HUFs). The minimum deposit amount required is ₹10,000, with no upper limit imposed. Investors can open the FD singly or jointly, and the nomination facility is available for all account holders to ensure smooth fund transfer in the future.
Premature Withdrawal and Loan Options
Union Bank offers flexibility even in emergencies. Investors can opt for premature withdrawal after the lock-in period, subject to a nominal penalty on the applicable interest rate. Additionally, loans or overdrafts can be availed against the deposit, providing easy access to funds without breaking the FD.
Key Features of the 377-Day Union Bank FD Scheme
| Particulars | Details |
|---|---|
| Scheme Tenure | 377 Days |
| Interest Rate (Regular) | 7.25% p.a. |
| Interest Rate (Senior Citizens) | 7.75% p.a. |
| Minimum Deposit | ₹10,000 |
| Maximum Deposit | No Upper Limit |
| Interest Compounding | Quarterly |
| Premature Withdrawal | Allowed with Penalty |
| Loan/Overdraft Facility | Available Against Deposit |
Final Verdict
The 377-day Special FD scheme by Union Bank of India is an excellent option for those looking to secure their savings with guaranteed returns in a short duration. With attractive interest rates, flexible withdrawal options, and reliable security, this FD plan suits both cautious and moderate investors aiming for stable, low-risk income.
Disclaimer
This article is for informational purposes only and should not be treated as financial advice. Interest rates and terms may change based on bank policies. Investors are advised to verify the latest details from Union Bank of India and consult a financial advisor before investing.
