Union Bank FD Calculator

Union Bank FD Calculator

The Union Bank FD Calculator helps you estimate the interest earned and maturity amount on your Fixed Deposit (FD) with Union Bank of India. Whether you’re investing for short-term stability or long-term savings, this tool offers a quick and accurate projection of your returns based on current interest rates and deposit tenure.

What Is a Union Bank Fixed Deposit?

A Fixed Deposit (FD) with Union Bank of India is a secure investment option where you deposit a lump sum amount for a fixed tenure at a guaranteed rate of interest. It suits conservative investors seeking capital protection and steady growth.

Key Features

• Tenure: 7 days to 10 years
• Minimum deposit: ₹1,000
• Interest payout: Monthly, quarterly, or at maturity
• Compounding: Quarterly for cumulative FDs
• Senior citizen benefit: Additional interest of 0.50% (subject to conditions)
• Taxation: Interest is taxable; TDS applies if interest exceeds ₹40,000/year (₹50,000 for senior citizens)

How the Union Bank FD Calculator Works

Inputs Required

• Deposit amount
• Tenure (in months or years)
• Applicable interest rate
• Compounding frequency (default: quarterly)

Formula Used

A = P × (1 + r/n)^{n × t}

• A: Maturity amount
• P: Principal (deposit amount)
• r: Annual interest rate (in decimal)
• n: Number of compounding periods per year (usually 4)
• t: Tenure in years

Output Provided

• Total interest earned
• Final maturity amount
• Effective yield over the deposit term

Example

If you invest ₹2 lakh for 5 years at 7% interest (compounded quarterly):

• Interest earned: ≈ ₹82,000
• Maturity amount: ≈ ₹2.82 lakh

Benefits of Using the Union Bank FD Calculator

• Accurate projections: Based on the latest rates
• Compare tenures: Maximize returns based on your goal
• Plan ahead: Ideal for education, travel, or emergency funds
• User-friendly interface: Get instant results

Disclaimer : The results given by the above calculator are for illustration purpose only. They are often based on a number of assumptions. The results given are in no way any guarantee of the returns that will be given. Investments in stock markets and securities markets are subject to market risks and other risks. There is no guarantee of the return that will be actually given. Investment in other financial products may also be subject to market risks and other risks. There is no guarantee of the returns that will be given by them. The calculator also does not make any recommendation directly or indirectly. Please consult a registered Financial Advisor before taking any investment decision.