Union Bank of India Fixed Deposit Rates Calculator

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Union Bank of India Fixed Deposit (FD) Rates Calculator .ub-fd-calculator-container { font-family: 'Segoe UI', Roboto, Helvetica, Arial, sans-serif; max-width: 800px; margin: 0 auto; padding: 20px; background-color: #f9f9f9; border: 1px solid #e0e0e0; border-radius: 8px; box-shadow: 0 4px 10px rgba(0,0,0,0.05); } .ub-fd-header { text-align: center; margin-bottom: 30px; border-bottom: 2px solid #C41E3A; /* Union Bank Red-ish tone */ padding-bottom: 15px; } .ub-fd-header h2 { color: #C41E3A; margin: 0; font-size: 24px; } .ub-fd-row { display: flex; flex-wrap: wrap; gap: 20px; margin-bottom: 20px; } .ub-fd-group { flex: 1; min-width: 250px; display: flex; flex-direction: column; } .ub-fd-group label { font-weight: 600; margin-bottom: 8px; color: #333; } .ub-fd-input-wrapper { position: relative; display: flex; align-items: center; } .ub-fd-input-wrapper input, .ub-fd-input-wrapper select { width: 100%; padding: 12px; border: 1px solid #ccc; border-radius: 4px; font-size: 16px; } .ub-fd-input-wrapper span.unit { position: absolute; right: 12px; color: #666; pointer-events: none; } .ub-fd-btn-group { text-align: center; margin-top: 20px; } .ub-fd-btn { background-color: #C41E3A; color: white; padding: 12px 30px; border: none; border-radius: 4px; font-size: 18px; cursor: pointer; transition: background-color 0.3s; font-weight: bold; } .ub-fd-btn:hover { background-color: #a01830; } .ub-fd-results { margin-top: 30px; background-color: #fff; padding: 20px; border-radius: 4px; border-left: 5px solid #C41E3A; display: none; } .ub-fd-result-row { display: flex; justify-content: space-between; margin-bottom: 15px; padding-bottom: 10px; border-bottom: 1px dashed #eee; } .ub-fd-result-row:last-child { border-bottom: none; margin-bottom: 0; } .ub-fd-result-label { font-weight: 600; color: #555; } .ub-fd-result-value { font-weight: 700; color: #333; font-size: 18px; } .ub-fd-total-value { color: #C41E3A; font-size: 22px; } .ub-fd-content { margin-top: 40px; line-height: 1.6; color: #444; } .ub-fd-content h3 { color: #2c3e50; border-left: 4px solid #C41E3A; padding-left: 10px; margin-top: 30px; } .ub-fd-content ul { margin-bottom: 20px; } .ub-fd-content li { margin-bottom: 8px; } .ub-fd-table { width: 100%; border-collapse: collapse; margin: 20px 0; } .ub-fd-table th, .ub-fd-table td { border: 1px solid #ddd; padding: 10px; text-align: left; } .ub-fd-table th { background-color: #f2f2f2; color: #333; } @media (max-width: 600px) { .ub-fd-row { flex-direction: column; gap: 15px; } }

Union Bank of India FD Calculator

₹
%
Months Years Days
Quarterly (Standard) Monthly Half-Yearly Yearly
General Citizen Senior Citizen (+0.50%) Super Senior (+0.75%)
Principal Amount: ₹ 0
Interest Earned: ₹ 0
Total Maturity Amount: ₹ 0
* Calculated using compound interest formula based on selected frequency.

Understanding Union Bank of India FD Rates

The Union Bank of India Fixed Deposit (FD) calculator helps investors estimate the returns on their savings over a fixed tenure. Union Bank offers competitive interest rates, which vary depending on the tenure chosen—typically ranging from 7 days to 10 years.

How the Calculation Works

Like most Indian public sector banks, Union Bank of India calculates interest on Fixed Deposits using the Quarterly Compounding method for deposits with a tenure of 6 months or longer. This means the interest earned in a quarter is added to the principal, and interest for the next quarter is calculated on this increased amount.

The mathematical formula used in this calculator is:

A = P × (1 + R/N)^(N × T)

  • A: Maturity Amount
  • P: Principal Deposit Amount
  • R: Annual Interest Rate (in decimal)
  • N: Compounding Frequency (Standard is 4 for Quarterly)
  • T: Tenure in Years

Interest Rate Guide (Indicative)

While rates change frequently, here is a general structure often observed for Union Bank FDs:

Tenure General Citizen Senior Citizen
7 Days – 45 Days 3.00% – 3.50% 3.50% – 4.00%
1 Year – 398 Days 6.30% – 6.75% 6.80% – 7.25%
399 Days (Special) 7.25% 7.75%
3 Years – 10 Years 6.50% 7.00%

Benefits for Senior Citizens

Union Bank of India typically offers an additional interest rate component for older adults:

  • Senior Citizens (60+ years): Usually get an additional 0.50% over the standard card rate.
  • Super Senior Citizens (80+ years): May receive an additional 0.75% depending on the specific scheme.

Tax Deduction at Source (TDS)

Please note that the calculator displays the gross maturity amount. Interest income from Fixed Deposits is fully taxable. Banks deduct TDS at 10% if the interest income exceeds ₹40,000 (₹50,000 for Senior Citizens) in a financial year, provided the PAN card is submitted. If PAN is not submitted, TDS is deducted at 20%.

// Helper function to format currency as Indian Rupee function formatRupee(num) { return new Intl.NumberFormat('en-IN', { style: 'currency', currency: 'INR', maximumFractionDigits: 0 }).format(num); } // Optional: Visual helper to adjust rates based on citizen type selection // Note: This logic is illustrative as real rates come from an API, // but this helps the user by auto-adjusting their manual input slightly if they toggle type. var baseRateMemory = 0; function adjustRateSuggestion() { var rateInput = document.getElementById('ub_interest_rate'); var citizenType = document.getElementById('ub_customer_type').value; var currentRate = parseFloat(rateInput.value); if (isNaN(currentRate)) return; // This is a simple logic to suggest rate changes, user can overwrite // We assume the user entered a General rate first. // This function is kept minimal to avoid overwriting user intent aggressively. // It serves primarily as a placeholder for where API integration would happen. } function calculateUnionBankFD() { // 1. Get Input Values var principal = parseFloat(document.getElementById('ub_deposit_amount').value); var ratePercent = parseFloat(document.getElementById('ub_interest_rate').value); var tenureValue = parseFloat(document.getElementById('ub_tenure_value').value); var tenureType = document.getElementById('ub_tenure_type').value; var compoundingFreq = parseFloat(document.getElementById('ub_compounding').value); // 2. Validation if (isNaN(principal) || principal <= 0) { alert("Please enter a valid deposit amount."); return; } if (isNaN(ratePercent) || ratePercent < 0) { alert("Please enter a valid interest rate."); return; } if (isNaN(tenureValue) || tenureValue <= 0) { alert("Please enter a valid tenure period."); return; } // 3. Normalize Tenure to Years var timeInYears = 0; if (tenureType === 'years') { timeInYears = tenureValue; } else if (tenureType === 'months') { timeInYears = tenureValue / 12; } else if (tenureType === 'days') { timeInYears = tenureValue / 365; } // 4. Calculation Logic (Compound Interest) // Formula: A = P * (1 + r/n)^(n*t) // r = annual rate / 100 // n = compounding frequency // t = time in years var r = ratePercent / 100; var n = compoundingFreq; var t = timeInYears; // Special handling for very short duration (simple interest often applies < 6 months in some banks) // However, standard FD calculators usually apply the compounding formula uniformly or use Simple Interest if tenure < 1 quarter. // For Union Bank, if tenure is days and less than 90 (one quarter), calculation is usually Simple Interest. var maturityAmount = 0; // If tenure is extremely short (less than a quarter), use Simple Interest if (timeInYears < (1/4)) { maturityAmount = principal + (principal * r * t); } else { maturityAmount = principal * Math.pow((1 + (r / n)), (n * t)); } var interestEarned = maturityAmount – principal; // 5. Update UI document.getElementById('res_principal').innerText = formatRupee(principal); document.getElementById('res_interest').innerText = formatRupee(interestEarned); document.getElementById('res_maturity').innerText = formatRupee(maturityAmount); // Show result box document.getElementById('ub_result_box').style.display = 'block'; }

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