How can I break my FD in Union Bank?

How to Close Union Bank FD

Step 1: Go to the bank’s website.
Step 2: Click on ‘General Services’
Step 3: Select ‘Services’
Step 4: Click on ‘FD Closure Requests’
Step 5: Your FD will be closed on the working day.

Can we withdraw FD before maturity in Union Bank of India?

19.1. Unless expressly prohibited under a deposit scheme, premature withdrawal of deposit will be allowed, irrespective of the period, it has run, but no interest will be paid on term deposits, which remain with the bank for less than 7 days.

Can we break fixed deposit before maturity?

Withdrawal of the money in the fixed deposit account before maturity is termed as premature withdrawal. This is done if the investor needs money on an urgent basis. An investor can also withdraw the money in the fixed deposit before its maturity if there is an investment option which is better than the Fixed Deposit.

Is there any penalty for breaking FD in Union Bank of India?

Penalty on Premature Closure 2.00 crores), which have run for 7 days or above, interest to be paid at 1.00% less than the applicable rate (as on the date of opening of deposit) for the period for which it has actually remained with the Bank or contracted rate, whichever is lower.

Can I break my 5 years fixed deposit?

These deposits have a lock-in period of 5 years. Premature withdrawals and loan against these FDs are not allowed.

What happens if I break FD?

When someone chooses to withdraw FD prematurely, one stands to lose on various fronts. These are explained here: Penalties: In case of premature withdrawal, the investor has to pay a certain amount as a penalty to the bank. The amount charged by the bank as a penalty is generally from 0.50 % to 1.00 % of the interest.

Does UnionBank have Maintaining balance?

With a UnionBank personal savings account, you’ll enjoy zero maintaining balance and zero initial deposit. This means that your account will never be closed nor will it be charged with fees whenever it falls below the maintaining balance.

Does Union Bank of India pay interest on fixed deposits?

However, no interest will be paid on fixed deposits that remain with the Union Bank of India for less than 7 days. Union Bank of India customers can avail of the facility of loan against fixed deposits up to 90% of the value of their fixed deposit at attractive interest rates.

What is the rate of FD in Union Bank of India?

The Union Bank of India offers the facility of fixed deposit to its customers along with an interest rate for the FD which ranges from 3.00% to 5.40%. Minimum deposit period is 6 months. High rate of interest with interest compounded quarterly. Loan against DRIC deposit available. Facility of nomination will be available.

What is the maximum amount allowed under FD in Union Bank?

Usually the maximum deposit amount allowed under FD is ₹ 10 crores. More about maximum amount to be deposited under FD can be found from the nearest Union Bank of India branch. However, acceptance of high value fixed deposits are subject to regulatory approvals.

What are the features of Union Bank of India’s digital banking?

The bank also offers ease in accessing these products through a digital banking platform. The Union Bank of India offers the facility of fixed deposit to its customers along with an interest rate for the FD which ranges from 3.00% to 5.40%.