United Bank FD Calculator
United Bank of India Interest Rates for Domestic Term Deposits Less than Rs.2 Crore - General Public
| Tenure | Rate of Interest for General Public (p.a.) |
| 7 days to 45 days | 2.90% |
| 46 days to 90 days | 3.25% |
| 9 days to 179 days | 3.80% |
| 180 days to less than a year | 4.40% |
| 1 year to up to 2 years | 5.00% |
| 2 years to up to 3 years | 5.10% |
| 3 years to up to 10 years | 5.25% |
United Bank of India Interest Rates for Domestic Term Deposits Less than Rs.2 Crore - Senior Citizens
| Tenure | Rate of Interest for Senior Citizens (p.a.) |
| 7 days to 45 days | 3.40% |
| 46 days to 90 days | 3.75% |
| 9 days to 179 days | 4.30% |
| 180 days to less than a year | 4.90% |
| 1 year to up to 2 years | 5.50% |
| 2 years to up to 3 years | 5.60% |
| 3 years to up to 10 years | 5.75% |
United Bank of India Interest Rates for Domestic Term Deposits Above Rs.2 Crore to Rs.10 Crore
| Tenure | Rate of Interest (p.a.) |
| 7 days to 45 days | 2.90% |
| 46 days to less than a year | 3.00% |
| 1 year to up tp 10 years | 3.50% |
United Bank of India Interest Rates for NRO Deposits Less than Rs.2 Crore
| Tenure | Rate of Interest for General Public (p.a.) |
| 7 days to 45 days | 2.90% |
| 46 days to 90 days | 3.25% |
| 9 days to 179 days | 3.80% |
| 180 days to less than a year | 4.40% |
| 1 year to up to 2 years | 5.00% |
| 2 years to up to 3 years | 5.10% |
| 3 years to up to 10 years | 5.25% |
United Bank of India Interest Rates for NRO Deposits Above Rs.2 Crore to Rs.10 Crore
| Tenure | Rate of Interest (p.a.) |
| 7 days to 45 days | 2.90% |
| 46 days to less than a year | 3.00% |
| 1 year to up tp 10 years | 3.50% |
United Bank of India Interest Rates for NRE Deposits Less than Rs.2 Crore
| Tenure | Rate of Interest (p.a.) |
| 1 year to up to 2 years | 5.00% |
| 2 years to up to 3 years | 5.10% |
| 3 years to up to 10 years | 5.25% |
United Bank of India Interest Rates for NRE Deposits Above Rs.2 Crore to Rs.10 Crore
| Tenure | Rate of Interest (p.a.) |
| 1 year to up to 10 years | 3.50% |
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United Bank of India FD Calculator
United Bank of India has amalgamated with Punjab National Bank on April 1, 2020. The customers of United Bank of India are now customers of Punjab National Bank. Hence, the applicable FD rates of PNB are applied on the FDs of United Bank of India.
Now, having a prior idea of the potential returns can help you make a suitable investment decision. For that, an online United Bank fixed deposit calculator can be a handy tool that every depositor must use. Read on to know more about it.
About United Bank of India Fixed Deposit (FD) Calculator
One of the best ways to earn a guaranteed return for a specific period is to invest your savings in FD schemes. The attractive United Bank fixed deposit rates allow you to receive substantial returns. United Bank of India FD interest rates range between 3.50% p.a. to 7.25% p.a. for general citizens 4% p.a. to 7.75% p.a. for senior citizens for a tenure ranging from 7 days to 10 years (for deposits below ₹2 crore).
The rates will vary as per the chosen tenure. You get higher returns for longer tenures.
Calculating the maturity amount manually can be quite complicated as you need to perform complicated calculations with formulas. Here, an online United Bank of India FD calculator can be of help. It simplifies your calculation and you can start calculating the interest earned by entering different variables like the United Bank fixed deposit interest rate, principal amount, and investment tenure.
How Does the United Bank of India FD Calculator Work?
With minimal effort you can efficiently compute your maturity and interest amount by following these easy steps:
1. Enter your deposited amount in the “Total Investment box”
2. Now enter the number of years in the box provided or you can drag the purple slider until reaching the desired tenure.
3. Upon entering the interest rate the screen will display the estimated return and total value against your FD deposits effectively.
Additionally, you can alter different fields and see how different values affect the maturity and interest amount.
There are two types of interest on fixed deposits: compound interest and simple interest.
The formula used for compound interest is:
A = P(1+r/n)^n x t
In this given formula,
A refers to the sum of your maturity amount
r signifies the rate of interest
n is the frequency of interest calculation
P signifies the principal amount invested
t is the investment term or tenure.
To simplify the matter let’s illustrate FD calculation by considering an example:
Suppose you have invested ₹2 lakh in United Bank of India FD for a maturity tenure of 5 years with an interest rate of 6.50% p.a (compounded yearly). In this scenario the maturity amount you will earn will be:
- P = ₹2 lakh
- r = 6.50% p.a.
- n = 1
- t = 5
Therefore, A = 2,00,000 (1+ 0.065/1)^1 x 5
A = 2,76,084.
Simultaneously to determine the total interest earned the formula is A – P = ₹ (2,76,084 – 2,00,000) = ₹76,084.
On the other hand, the formula used in the simple interest method is:
M = P+ (PXRXT/100)
Where,
P = Principal amount
T = Investment tenure
R = Rate of interest
M = Maturity amount.
Now to understand this formula, consider the example given below:
If you invest ₹2,00,000 for 5 years with an interest rate of 6.50% p.a. then during the time of maturity the value will be:
M = 2,00,000 + (2,00,000*6.50*5/100) = ₹ 2,65,000.
Therefore, the maturity value will be ₹ 2,65,000.
What Are the Benefits of an Online United Bank of India?
Let’s have a brief look at a few of the most prominent benefits of the online FD calculator:
- Comparison of Multiple FD Scheme Returns
United Bank of India offers a variety of FD schemes with varying interest rates. Using this calculating tool enables you to quickly determine and compare different fixed deposit returns to find the one that is most compatible with your financial objectives and plans. - Saves Time
The automated process of an FD calculator makes the entire process smooth and hassle-free. You only need to enter a few details, and the calculator handles the rest. - Assist in Better Financial Planning
To plan your investments and finances, it is essential to have an idea of the returns you can anticipate from a particular FD plan - Free to Use
The best part of using this tool is that it is completely free. You can use it as many times as required. There is also no need to sign up or register with any personal details.
Such online calculating tools are extremely user-friendly and provide incredible benefits. If you want to make an FD investment but have been struggling to find the most appropriate scheme, you can choose the Upstox United Bank fixed deposit calculator that provides accurate results promptly.
Frequently Asked Questions
What is the highest FD rate for the United Bank of India?
The highest FD rate for United Bank of India is 7.25% for 666 days for general citizens and 7.75% for senior citizens.
Is there any premature withdrawal facility offered by United Bank of India?
Yes, you can opt for premature withdrawal if you want money before the tenure ends.
What is the penalty for premature FD withdrawal in United Bank of India?
For premature FD withdrawals, the bank will charge 1% penal interest for all tenures.
What is the minimum amount of investment for FDs under United Bank of India?
With United Bank of India, you can start your investment with a minimum ₹10,000 in multiples of ₹1,000. However, the maximum amount you can deposit is ₹1,99,99,000.
Can new customers open an FD online? If not then can they do so?
No, a new customer cannot open an FD online.
Can I close a United Bank of India account online?
Yes, you can close a United Bank of India account online.
Does United Bank of India provide an auto-renewal facility for fixed deposits?
Yes, this financial institution provides an auto-renewal facility for fixed deposits.
Disclaimer:
This calculator is meant to be used for indicative purposes only. It is designed to assist you in determining the appropriate amount of prospective investments. This calculator alone is not sufficient and shouldn’t be used for the development or implementation of any investment strategy. Upstox does not take the responsibility/liability nor does it undertake the authenticity of the figures calculated therein. Upstox makes no warranty about the accuracy of the calculators/reckoners. The examples do not claim to represent the performance of any security or investments. In view of the individual nature of tax consequences, each investor is advised to consult his/her own professional tax advisor before making any investment decisions on the basis of the results provided through the use of this calculator.