The Central Government in consultation with the Reserve Bank of India (RBI) notified the amalgamation of Andhra Bank with the Union Bank of India through a vide gazette notification dated 4 March 2020. The amalgamation came into effect from 1 April 2020. Hence, the customers who had fixed deposit account in the Andhra Bank were transferred to Union Bank of India.
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6.5%INTEREST ON FD
| Union Bank of India FD Interest Rates (p.a.) Highlights 2024 | |
| Highest slab rate | 7.25% (for 399 days) |
| For 1 year | 6.75% |
| For 2 years | 6.50% |
| For 3 years | 6.50% |
| For 4 years | 6.50% |
| For 5 years | 6.50% |
| Tax-Saving FD | 6.50% |
The interest rates are updated as of 15 March 2024
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