Union Bank of India has raised interest rates on fixed deposits. The state-run bank is offering a special interest of 7.4% to regular citizens on term deposits of 333-day tenure.

Senior citizens will earn an extra 50 basis points i.e., 7.9%. The bank is offering super senior citizens an interest rate of 8.15% on the FD of same tenure.

For fixed deposits of 399-day tenure, the bank is offering an interest of 7.25% per annum to regular citizens. Senior citizens are entitled to 7.75% and super senior citizens are given 8% per annum on this fixed deposit.

On FDs between 181 days to 332 days, the rate of interest is 6.35%. For FDs of 121-180 tenure, the bank offers 5% interest per annum.