Fixed Deposit Details
Bank Name
City Union Bank
Eligibility
For Individuals
For MSMEs
For Corporates
Interest Rate
5% - 8%
Tenure
Minimum period presently - 7 days Maximum period - 10 years
Fixed Deposit Type
Regular FD
CUB Fixed Deposit Schemes
Tax Benefits
Not Provided
Credit Ratings
[ICRA]A1+
Interest Payment Frequency
Simple interest payable on monthly / quarterly / half yearly / annual basis. Typically for fixed deposits having interest payment at maturity, compound interest is applicable and for fixed deposits having monthly interest payment, simple interest is applicable. Typically fixed deposits having a tenure of one year or less, simple interest is applicable. It is best to consult the bank officials before you book a fixed deposit.
Cummulative/Non-Cummulative
Both
Features
Open your deposits online Bulk deposit of Rs. 1 Crore and above are accepted Minimum period presently - 7 days Maximum period - 10 years Simple interest payable on monthly / quarterly / half yearly / annual basis In case of Cumulative deposits, interest shall be calculated and added to the principal at the end of every quarter For senior citizens (60 Years +) additional interest rate applicable from 1st year Pre-closure and Auto renewal options available Loan / OD option available TDS at prevalent Income tax rate is deducted
Minimum Investment Amount
Minimum amount of deposit
For Individuals: Rs.100/- and multiples thereof
For MSMEs: Rs.1000/- and multiples thereof
For Corporates: Rs.10,000/- and multiples thereof
Features & Benefits
Pros
Flexible Tenures
Competitive Interest Rates
Interest Payout Options
Loan Facility
Cons
Early Withdrawal Penalty
Pros & Cons
Account Opening Procedure
How to Open?
1. Choose Your Preferred Method:
Online: Visit the City Union Bank website or use their mobile app.
Offline: Visit a nearby City Union Bank branch.
2. Gather Required Documents:
Identity proof (Aadhaar card, PAN card, passport, etc.)
Address proof (utility bill, driving license, etc.)
Income proof (if applicable)
Passport-sized photographs
3. Select an FD Scheme:
City Union Bank offers various FD schemes with different interest rates and tenure options.
Consider factors like your investment goals, risk appetite, and desired maturity period.
4. Fill Out the Application Form:
Provide the necessary details, including your name, address, contact information, and the amount you want to invest.
Choose the interest payout frequency (monthly, quarterly, half-yearly, or annually).
Decide on the maturity period.
5. Submit the Application and Deposit Amount:
If opening online, follow the on-screen instructions to complete the process.
If opening offline, submit the completed application form and the deposit amount to the bank representative.
6. Receive the FD Receipt:
Upon successful completion, you'll receive an FD receipt as confirmation of your investment.
Application Procedure
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