In the past two months, multiple banks have increased their interest rates on fixed deposits and the latest to join the list is Union Bank of India.

A deposit for 91-120 days will earn a return of 4.3 per cent while that for 121-180 days will be given 4.4% interest.
On fixed deposits with maturities ranging from 181 days to less than one year, Union Bank of India is now offering a 5.25% interest rate.

For the one-year maturity period, the rate of return is 6.30 per cent.
Union Bank of India said that the interest on the Fixed Deposit is calculated on a daily basis and is credited on a quarterly basis every year in the months of April, July, October and January.
Source: Zeenews
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