Union Bank FD Scheme 333 Days : Banks in India often launch special Fixed Deposit (FD) schemes from time to time to attract new investors and offer competitive returns. These special FDs not only provide higher interest rates but also ensure the safety of your hard-earned money. One such attractive option has recently been introduced by Union Bank of India — the 333 Days Fixed Deposit Scheme.
If you are planning to invest in a safe and rewarding FD, it’s worth knowing all the details about this unique Union Bank FD plan. Let’s explore what the Union Bank 333 Days FD Scheme is, how much return it offers, who can invest, and what other benefits you can enjoy.
About Union Bank of India
Union Bank of India is one of the leading public sector banks in the country. It was established on 11 November 1919 in Mumbai and has since grown into a large, trusted financial institution with thousands of branches across India.
As a government-owned bank, around 60% of its shareholding belongs to the Government of India, which makes it one of the most secure and reliable banks to invest in.
When people invest their money in a fixed deposit, they usually look for two key things: safety and good returns. With Union Bank, you get both — the security of a government-backed institution and the assurance of steady, attractive returns.
Union Bank’s “Sumvridhi Deposit Scheme” – 333 Days FD Plan
The special 333 Days FD scheme offered by Union Bank is officially known as the Union Sumvridhi Deposit Scheme. This is a short-term FD plan with a tenure of 333 days, and it offers higher interest rates compared to regular FDs.
Under this special scheme, the bank provides different interest rates based on the category of depositor:
- For General Customers : 7.40% per annum
- For Senior Citizens : 7.90% per annum
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For Super Senior Citizens (aged 80 years & above) : 8.15% per annum
These rates are significantly higher than standard FD rates offered by most banks, making the Union Bank 333 Days FD a profitable and secure investment option.
Minimum and Maximum Investment Amount
Investing in this FD scheme is quite flexible. You can start your investment with a minimum amount of ₹1,000, making it accessible even to small investors.
The maximum limit for investment under this plan is ₹3 crore, which means it is suitable for both individual investors and institutions seeking short-term gains.
This flexibility allows a wide range of customers — from small savers to large depositors — to take advantage of the attractive interest rates offered by the bank.
Loan Facility Against FD
Another major benefit of the Union Sumvridhi 333 Days FD Scheme is that investors can avail loans against their fixed deposits.
If you ever need urgent funds, instead of breaking your FD, you can take a loan or overdraft against it. The loan amount and applicable interest rate will depend on the bank’s current policy and your deposit amount.
To know the exact terms — such as how much loan you can get, interest rate on the loan, and repayment options — you can visit your nearest Union Bank branch or contact their customer service.
Interest Payment and Maturity Details
You can choose how you wish to receive your interest — either at maturity or at periodic intervals (monthly, quarterly, or annually), depending on the FD type you select.
When the FD matures after 333 days, the principal amount along with the accumulated interest will be credited directly to your linked savings account.
Taxation on FD Returns
Like all fixed deposits, the interest you earn under this scheme is taxable as per Income Tax Act, 1961.
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The bank will deduct TDS (Tax Deducted at Source) on the interest earned if it exceeds the prescribed limit (currently ₹40,000 for general customers and ₹50,000 for senior citizens in a financial year).
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To avoid TDS, eligible investors can submit Form 15G or 15H (for senior citizens) at the time of deposit.
For more detailed information regarding taxation, you can consult your nearest Union Bank branch or speak with a tax advisor.
Why Invest in Union Bank’s 333 Days FD Scheme?
Here are some key reasons why the Union Sumvridhi 333 Days FD Scheme is worth considering:
Short Tenure, High Returns : Only 333 days lock-in period with interest rates up to 8.15%.
Government-Backed Security : Union Bank is a public sector bank, making it a safe investment option.
Low Minimum Investment : Start with as little as ₹1,000.
Loan Facility : Borrow funds without breaking your FD.
Senior Citizen Benefits : Higher interest rates for senior and super senior citizens.
Flexible Investment Options : Suitable for both individuals and large depositors (up to ₹3 crore).
Example Calculation of Returns
To give you a better idea of the potential returns, here’s an example:
If you invest ₹1,00,000 for 333 days under this FD:
- A regular customer will earn around ₹6,740 in interest.
- A senior citizen will earn about ₹7,190 in interest.
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A super senior citizen will earn approximately ₹7,445 in interest.
(These figures are approximate and may vary slightly based on compounding frequency and bank policy.)
How to Apply for Union Bank 333 Days FD Scheme
You can open the 333 Days FD under the Union Sumvridhi Deposit Scheme through both online and offline methods:
Online:
- Visit Union Bank’s official website.
- Log in to your internet banking or mobile banking account.
- Select the “Fixed Deposit” section and choose the 333 Days Sumvridhi Scheme.
- Enter the deposit amount and tenure.
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Confirm the transaction and your FD will be created instantly.
Offline:
- Visit your nearest Union Bank of India branch.
- Fill out the FD application form and submit the required KYC documents (Aadhaar, PAN, etc.).
- Deposit the desired amount either by cheque, cash, or transfer.
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The bank will issue you an FD receipt with all details.
Final Thoughts
The Union Bank 333 Days Fixed Deposit Scheme is an excellent choice for anyone looking for a short-term investment that offers high returns with complete safety.
With interest rates up to 8.15%, a government-backed guarantee, and flexibility in both investment and withdrawal options, this FD scheme is one of the best options currently available in the Indian banking sector.
So, if you want to grow your savings securely and efficiently, consider investing in the Union Sumvridhi 333 Days FD Scheme today.
