City Union Bank (CUB), formerly known as The Kumbakonam Bank Limited, was incorporated as a limited company in 1904. The bank provides deposits and loans to retail customers. It offers different Fixed Deposit (FD) schemes to the customers to fit their needs. Here is everything you need to know about City Union Bank fixed deposits.
Tenure | 7 days to 10 years |
Senior Citizen Interest Rates | 5.00% to 8.00% p.a. |
Public Interest Rates | 5.00% to 7.50% p.a. |
Highest Interest Rates for Public | 7.50% |
Highest Interest Rates for Senior Citizens | 8.00% |
Premature Withdrawal | 1% Penalty |
Minimum Deposit Amount | Rs 10,000 |
The interest rates given in the below table are for deposits below Rs.1 crore effective from 10 February 2025.
Deposit Tenure | Interest Rates for Regular Customers (% p.a.)* | Interest Rates for Senior Citizens (% p.a.)* | Interest Rates for Super Senior Citizens (% p.a.)* |
7-14 days | 5.00 | 5.00 | 5.00 |
15-45 days | 5.50 | 5.50 | 5.50 |
46-90 days | 5.75 | 5.75 | 5.75 |
91-180 days | 6.00 | 6.00 | 6.00 |
181-270 days | 6.25 | 6.50 | 6.50 |
271-332 days | 6.50 | 6.75 | 6.75 |
333 days | 7.50 | 8.00 | 8.10 |
334-400 days | 7.00 | 7.25 | 7.30 |
401 days-3 years | 6.50 | 6.75 | 6.75 |
3-10 years | 6.25 | 6.50 | 6.50 |
Tax Saver Scheme | 7.10 | 7.10 | 7.10 |
*Interest rates are subject to change from time to time
Type of FD Scheme | Key Features | Minimum Amount | Tenure |
CUB Fixed Deposit |
| Bulk deposit of Rs. 1 Crore and above are accepted | 7 days to 10 years |
CUB Flexifix Deposit |
| ₹10,000/- and multiples of ₹5,000/- | 30 days to 5 years |
CUB Income Tax Saver Deposit |
| Tax Saver Silver: ₹100/- Tax Saver Gold: ₹1,000/- | 5 years (lock-in period)
|
CUB NRE Fixed Deposit |
| As per bank policy | 1 year to 10 years |
CUB NRO Fixed Deposit |
| As per bank policy | 1 year to 10 years |
CUB FCNR Fixed Deposit |
| As per bank policy | 1 year to 5 years
|
Deposit Tenure | General Customers | Senior Citizens |
Short-Term Deposits | ||
7 days to 1 year | 5.00% - 6.25% | 5.00 - 6.75% |
Medium-Term Deposits | ||
1 - 3 years | 6.85% - 7.30% | 7.35% - 7.80% |
Long-Term Deposits | ||
3 -10 years | 7.40% - 6.70% | 7.20% - 7.90% |
City Union Bank FD account can be openedin various ways, like the City Union Banj Mobile App, City Union Bank Internet Banking, or by visiting your nearest City Union Bank.
Step 1: Visit the City Union Bank website and log in to your account with your credentials.
Step 2: At the top of the page, select ‘Personal’, followed by ‘Deposits’.
Step 3: Choose the type of FD you wish to open, and a page with detailed information about the selected FD will be displayed.
Step 5: Click on ‘Apply Now’.
Step 5: Fill in details like deposit amount, tenure, interest payout preferences, and maturity instructions.
Step 6: Review all the details carefully and proceed to click on ‘Submit’.
Step 7: Once your FD is processed, you will receive a confirmation.
Step 1: Download the City Union Bank Mobile Banking App.
Step 2: Log in to your Mobile Banking account with your credentials.
Step 3: Proceed to go to the ‘E-Deposits’ section.
Step 4: Choose the type of FD account you want to open.
Step 5: Fill in the required details, including deposit amount, tenure, maturity instructions, and interest payout preferences.
Step 6: Review and click ‘Submit’ to confirm your FD application.
Step 7: Once processed successfully, you will receive a confirmation notification.
Step 1: Visit your nearest City Union Bank branch.
Step 2: Request for a FD account opening form from the bank representative.
Step 3: Fill out the application form with the required details, along with the necessary documents and deposit amount.
Step 5: The bank will then process your application. Once approved, you will receive an FD receipt as confirmation of your deposit.
CUB Income Tax Saver Deposit
Resident individuals and HUFs can deposit in this account to claim income tax deductions of up to Rs. 1.5 lakh under Section 80C of the Income Tax Act, 1961. The scheme has a five-year lock-in period and offers two variants:
If annual interest exceeds Rs. 40,000 (Rs. 50,000 for senior citizens), the excess is taxable. Interest is taxed at your income slab rate. If your income is below the basic exemption limit, submitting Form 15G/15H can prevent TDS.
Bank Name | Regular Customers (% p.a.) | Senior Citizens (% p.a.) |
HDFC Bank | 3.00% – 7.35% | 3.50% – 7.85% |
Punjab National Bank | 4.55% – 7.30% | 5.05% – 7.80% |
Axis Bank | 3.00% – 7.20% | 3.50% – 7.70% |
City Union Bank | 5.00% – 7.50% | 5.00% – 8.00% |
Canara Bank | 4.00% – 7.25% | 4.00% – 7.75% |
Bank of Baroda | 4.25% – 7.25% | 4.75% – 7.75% |
ICICI Bank | 3.00% – 7.25% | 3.50% – 7.80% |
Citibank | 2.10% – 7.77% | 2.60% – 8.27% |
State Bank of India | 3.50% – 7.10% | 4.00% – 7.60% |
Indian Overseas Bank | 4.00% – 7.30% | 4.50% – 7.80% |
IDBI Bank | 3.00% – 7.00% | 3.50% – 7.50% |
Indian Bank | 2.80% – 7.25% | 3.30% – 7.75% |
IDFC First Bank | 3.00% – 7.75% | 3.50% – 8.25% |
Post Office FD | 6.90% – 7.50% | 6.90% – 7.50% |
Kotak Bank | 2.75% – 7.40% | 3.25% – 7.90% |
Get a glimpse of the possible maturity amount and interest you can earn after investing a certain amount in a term deposit account using ClearTax’s FD Calculator.
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