Union Bank of India RD Calculator

Union Bank of India Recurring Deposits Explained

Set your instalment and tenure above and the Union Bank RD calculator returns the maturity figure a branch would quote, using the quarterly compounding the bank applies to each deposit. Union Bank of India offers recurring deposits from six months to ten years through one of the largest public sector branch networks in the country. The bank roughly doubled in size on 1 April 2020, when Andhra Bank and Corporation Bank were amalgamated into it — a merger that gave Union Bank a markedly deeper presence across the southern and coastal states than it previously had, and brought several million existing deposit customers onto its books.

Union Bank RD Schemes You Can Open

Union Bank separates its recurring range from its monthly-payout deposits, and the distinction matters because the two are often confused:

• •Union Recurring Deposit — The standard fixed-instalment account, opened through the Vyom app or a branch, with tenures in three-month steps and a low minimum monthly deposit.
• •Union Monthly Income Scheme — Not a recurring deposit at all — a lump-sum term deposit that pays interest out monthly. Savers searching for a monthly deposit product often land here by mistake; it takes money out rather than putting it in.
• •Senior citizen and tax-saver variants — Tenure-specific deposit products carrying their own terms, including the additional rate benefit extended to resident depositors aged 60 and above.

Missed Instalments and Early Closure at Union Bank

Union Bank RD interest rates hold for the life of the account, so the cost of falling behind is a flat charge rather than a worse rate. Skip a month and a small levy accrues against that instalment until you make it good; the bank either collects it when you catch up or nets it out of the final payout. Abandon the account entirely and it stops being a five-year contract — Union Bank winds it up and pays only on what you actually deposited. Withdrawing early by choice works differently again: the deposit is re-rated to the shorter span your money was genuinely committed for, and a penalty comes off that.

How to Check Union Bank RD Interest Rates

RD rates change with RBI policy and each bank's own treasury decisions, so no figure is quoted on this page. Take the rate applicable to your tenure from the Union Vyom app, Union Bank internet banking, or a branch, then enter it above alongside your monthly instalment to see the exact maturity value.

What Is Specific to an Union Bank RD

• •The Vyom app handles the full lifecycle — opening, standing instruction, maturity instruction and premature closure — without a branch visit.
• •Former Andhra Bank and Corporation Bank branches now operate under Union Bank IFSC codes, so confirm the current code before setting up an external transfer to fund the deposit. Deposits opened with the former lender — still widely searched as Andra Bank RD, without the h — were transferred on their original terms.
• •The post-merger branch network is unusually deep in Andhra Pradesh, Telangana and coastal Karnataka, which matters if you prefer to pay instalments over the counter.
• •Do not confuse the Union Monthly Income Scheme with an RD: it pays interest out monthly on a lump sum rather than accumulating monthly instalments.

Take the rate Union Bank quotes for your chosen tenure and enter it above to see the exact maturity value and the year-by-year interest build-up.

To compare this against another lender, or against a lump-sum deposit, use the master RD calculator or the fixed deposit calculator.