• Fixed Deposit
  • City Union Bank
  • City Union Bank Fixed Deposit
City Union Bank Fixed Deposit

City Union Bank Fixed Deposit

Private 
DICGC

7%

Interest for 3 years

City Union Bank FD Interest Rates January 2023

Historical FD Rates →
TenureNormal Citizen FD RateSenior Citizen FD Rate
7 days - 14 days4%4%
15 days - 1 month 14 days4.1%4.1%
1 month 15 days - 3 months4.5%4.5%
3 months 1 day - 5 months 29 days5%5%
6 months - 8 months 27 days5.5%5.75%
8 months 28 days - 11 months 30 days5.75%6%
1 year - 1 year 1 month 3 days6.25%6.5%
1 year 1 month 4 days - 1 year 1 month 4 days6.5%6.75%
1 year 1 month 5 days - 1 year 10 months 29 days6.75%7%
1 year 11 months - 1 year 11 months7.1%7.4%
1 year 11 months 1 day - 2 years 11 months 30 days7%7.25%
3 years - 9 years 11 months 28 days6.9%7.25%

Note: All interest rates shown below are as on 9th Jan 2023

About City Union Bank FD

City Union Bank Limited (CUB) is an Indian bank headquartered in Kumbakonam, Tamil Nadu. The bank was initially named Kumbakonam Bank Limited, and was incorporated on 31 October 1904. The bank preferred the role of a regional bank in the Thanjavur district of Tamil Nadu. The bank has a balance sheet size of Rs. 49,734 Crs as on 31st March 2020. The bank recorded a profit of Rs 476 Crs in FY20

City Union Bank FD

4% - 7.1%

FD Rate

4% - 7.4%

FD Rate for Seniors

₹ 100

Minimum Deposit

₹ 2 Crores

Maximum Deposit

-

Lock-in

-

FD Tenure

-

Loan against FD

CRISIL Rating

City Union Bank FD Returns Based on Investment Amount

Investment AmountFor 3 years with interest of 7%For 5 years with interest of 6.9%
₹ 50,000 ₹ 61,646₹ 70,530
₹ 1 lakh ₹ 123,293₹ 141,060
₹ 2 lakh ₹ 246,585₹ 282,119
₹ 5 lakh ₹ 616,463₹ 705,298
₹ 10 lakh ₹ 1,232,926₹ 1,410,595

Compare City Union Bank Fixed Deposit Returns with Top Banks

Use FD calculator to change values and compare your returns from top banks.

vs
Jana Small Finance Bank FD
City Union Bank FD
City Union Bank FD
Maturity Amount 106,432 108,139
Total Investment Amount₹ 100,000₹ 100,000
Total Interest Gained6,432 8,139

Compare City Union Bank Fixed Deposit Rates with Top Banks

Bank NameFD Interest Rates
Jana Small Finance Bank FD
7.85% - 8.8%
CSB Bank FD
5.75% - 6.25%
Axis Bank FD
7% - 7.75%
Deutsche Bank FD
7% - 7%
Ujjivan Small Finance Bank FD
7.2% - 7.95%
Indian Bank FD
6.25% - 6.75%
Federal Bank FD
6.5% - 7%
Chaitanya Godavari Grameena Bank FD
6.25% - 6.75%
Ellaquai Dehati Bank FD
5.3% - 5.55%
Paschim Banga Gramin Bank FD
5.2% - 5.7%

Calculate City Union Bank FD Returns

₹ 100,000

Total Investment

6,432

Wealth Gained

₹ 106,432

Maturity Amount

Explore Debt Funds, instead!

The flexible & tax efficient alternative to FDs.

City Union Bank offers multiple fixed deposits for various tenures with different interest rates to its investors. The interest rate on City Union Bank FDs is higher than their savings account. One can invest in City Union Bank FDs through both online and offline modes with just a minimum investment of INR 100.

City Union Bank Fixed deposit schemes

  • Fixed Deposit
  • Flexifix Fixed Deposit
  • Tax Saver Deposit

Fixed Deposit

A basic fixed deposit account that allows investors to earn higher returns than a savings account. Following are the features of CUB FD:

  • Minimum Deposit: INR 100
  • Tenure: 7 days to 10 years
  • Interest payout: Monthly, quarterly, half-yearly, annual basis as per the choice of the investor
  • Premature withdrawal: Available, with a penalty
  • Loan facility: Available
  • Auto-renewal: Available
  • Nomination: Available

Flexifix Fixed Deposit

A fixed deposit that offers the benefits of an FD and flexibility of withdrawal in one scheme. Following are the features of this deposit scheme:

  • Minimum Deposit: INR 10,000 and in multiples of INR 5,000 thereof
  • Tenure: 30 days to 5 years
  • Interest payout: Monthly, quarterly, half-yearly, annual basis as per the choice of the investor
  • Interest withdrawal: Interest can be withdrawn in multiples of INR 5,000.
  • Loan facility: Not available
  • Auto-renewal: Available
  • Nomination: Available

Tax Saver Deposit

A tax saving FD that helps in saving tax up to INR 1.5 lakhs per annum. Following are the features of the CUB Tax Saver Deposit:

  • Minimum Deposit: Tax Saver Silver INR 100, Tax Saver Gold: INR 1,000
  • Maximum Deposit: INR 1,50,000
  • Tenure: 5 years lock-in
  • Interest payout: For Tax Saver Silver FD, the interest is paid out monthly or quarterly. Whereas for Tax Saver Gold FD, the interest is paid at maturity.
  • Loan facility: Not available
  • Premature closure: Not available
  • Nomination: Available

Key Features of City Union Bank Fixed Deposit Schemes

  • Tenure: The tenure of a City Union Bank FD ranges from seven days to ten years. One cannot change the tenure of their CUB FD once it has commenced.
  • Minimum and maximum investment: The minimum investment in City Union Bank FD is INR 100 and thereafter in multiples of INR 100. However, there is no limit on the maximum amount of investment in CUB FD.
  • City Union Bank FD rates: City Union Bank FD rates range between 3% and 5.75% for regular citizens and between 3% and 6.25% for senior citizens. Moreover, City Union Bank offers an additional 0.5% interest to senior citizens on their FDs for a tenure above one year. The interest is compounded every quarter and paid to investors as per their choice. Investors can choose from monthly, quarterly, half-yearly, yearly intervals or directly at maturity.
  • Premature withdrawal: All City Union Bank FDs can be withdrawn prematurely except for the tax-saving FD. However, the CUB charges a penalty for all premature withdrawals, according to their norms.
  • Loan against FD: City Union Bank offers loans against their FDs. Investors can get loans without breaking their CUB FD. Also, the interest rate for the loan will be decided by the City Union Bank.
  • Nomination facility: City Union Bank FD investors can nominate beneficiaries for their FDs.
  • Auto-renewal: Investors can opt for auto-renewal of their City Union Bank FDs.
  • Safety: The Deposit Insurance Scheme of RBI covers all City Union Bank deposits. The scheme covers all City Union Bank deposits up to INR 5,00,000.
  • Additional payments: Investors cannot deposit an additional amount in a City Union Bank FD once it has commenced. However, they can open a fresh City Union Bank FD with the new amount.

How to open a City Union Bank FD deposit account?

One can open a City Union Bank FD account through various modes such as Internet Banking, Mobile App and offline.

Internet Banking

The following steps will help an individual to open a CUB Bank FD account through internet banking:

  • Go to the City Union Bank website.
  • Login to your CUB account.
  • On the topmost tab, click on ‘Personal’ and select ‘Deposits’.
  • Select the type of deposit you want to invest in, and the page will be redirected to the scheme’s page.
  • On the FD scheme page, on the right-hand side, click on ‘Apply Now
  • Fill in all the necessary details in the CUB account opening form. Provide maturity, payment, interest payout instructions.
  • Verify the details and click on ‘Submit. Upon successful processing, the investor will be notified.

Through Mobile App

CUB Mobile Banking App

The following steps will guide in opening an FD account through CUB Mobile Banking App:

  • Download the CUB Mobile Banking App.
  • Under the ‘E-Deposits’ section, select the type of deposit account.
  • Fill in all the necessary details in the CUB FD account opening form. Provide maturity, payment, interest payout instructions.
  • Verify the details and click on ‘Submit. Upon successful processing, the investor will be notified.

Offline City Union Bank FD Opening

To open a CUB Bank FD account offline, one has to visit the nearest CUB Bank branch. Fill the City Union Bank FD application form and submit all the necessary documents along with the deposit amount. On successfully processing the application, CUB Bank will provide an FD receipt.

Documents required to Open a City Union Bank FD

To open a City Union Bank fixed deposit scheme, one would need the following documents:

  • City Union Bank Fixed Deposit application form
  • Passport size photographs
  • Government ID proof (Aadhar Card, PAN Card, etc.)
  • Address proof (Aadhar Card, Driving License, and Utility bills)

Eligibility to Open a City Union Bank FD

Resident individuals and Hindu Undivided Families are eligible to open a City Union Bank FD account.

Does City Union Bank offer Recurring Deposits?

City Union Bank offers recurring deposits to its depositors. City Union Bank recurring deposits have a minimum tenure of one year and a maximum tenure of 10 years. Depositors can open an RD account either by going to the City Union Bank branch or online using internet banking. The minimum investment in City Union Bank RD is INR 100 and thereafter in multiples of INR 100. The interest rate for regular citizens on City Union Bank RDs is in the range of 5.25% to 5.75%, and for senior citizens, it is in the range of 5.25% to 6.25%.

Is FD interest taxable?

Only investment in City Union Bank Tax Saving FD qualifies for tax saving up to INR 1,50,000 per annum. Investment in no other City Union Bank FDs qualifies for tax saving under Section 80C of the Income Tax Act. The interest income from City Union Bank FD is taxable as per the investor’s income tax slab rates. Moreover, the interest income is subject to a TDS of 10% if the income from City Union Bank FD exceeds INR 40,000 per annum. For senior citizens, the limit is INR 50,000 per annum. Also, if the investor doesn’t disclose PAN Card details to the City Union Bank, then the TDS rate will be 20%.

In how many years FD will double in City Union Bank?

To know in how many years City Union Bank FD will double, we can follow the 72 rule. We have to divide 72 by the interest rate, and the result will be the number of years City Union Bank FD will double. For example, for a tenure of 555 days to 3 years, the FD interest rate for senior citizens is 6.25%. An investor can double the investment amount by 11.52 years (72/6.25).

Frequently Asked Questions

What is the interest rate for FD in City Union Bank?

City Union Bank FD rates range between 3% and 5.75% for regular citizens and between 3% and 6.25% for senior citizens. Moreover, City Union Bank offers an additional 0.5% interest to senior citizens on their FDs for a tenure above one year. The interest is compounded every quarter and paid to investors as per their choice. Investors can choose from monthly, quarterly, half-yearly, yearly intervals or directly at maturity.

Is City Union Bank safe for FD?

City Union Bank guarantees returns in the form of interest on their FDs. Moreover, the Deposit Insurance Scheme of RBI covers all City Union Bank deposits. Also, the scheme covers all City Union Bank deposits up to INR 5,00,000. Hence City Union Bank FDs are safe for investment.

Is there any minimum amount that I have to give for opening a Fixed Deposit with City Union Bank?

The minimum investment in City Union Bank FD is INR 100 and thereafter in multiples of INR 100. However, there is no limit on the maximum amount of investment in CUB FD.

Can a customer open an FD account online in City Union Bank?

Yes, investors can open a City Union Bank FD account online through their internet banking facility.

What is the highest fixed deposit interest rate for City Union Bank?

The highest FD rate for City Union Bank is 5.75% for a tenure of 555 days to 3 years. The highest City Union Bank FD rate for senior citizens is 6.25% for a tenure of 555 days to 3 years.

Who all are eligible to open a City Union Bank fixed deposit account?

Resident individuals and Hindu Undivided Families are eligible to open a City Union Bank FD account.