CUB 777 & Sri Chakra Fixed Deposit Schemes
City Union Bank (CUB) has announced a new fixed deposit scheme namely CUB777. It is a 777 days fixed deposit and the rate of interest for the same is fixed as 8.50% for senior citizens and 8.25% p.a. for others. This is a limited period of special Fixed Deposit Scheme brought out by CUB as a special offer after the recent increase in the interest rates announced by RBI. City Union Bank is one of the oldest bank in India which has been around since 1904!
This new fixed deposit CUB 777 from City Union Bank, which has its head quarters at Kumbakonam, is valid only for the 777 days deposit and the interest rates for the 776 days it is 7.50% for the general public and 8% for senior citizens. And likewise for the 778 days above it is 8% for the general public and 8.25% for senior citizens.
City Union Bank has branches in all major towns and cities across India. Check out their website to know about it to get to know how to open a fixed deposit from their bank. There are some procedures that need to be fulfilled to open a fixed deposit with them, especially if you don’t have an existing banking relationship with City Union Bank.
City Union Bank also has the special tax saver fixed deposit for which the lock-in period is 5 years and the interest rate for the same is 8.50% p.a. for all. You can save tax if you us this Tax Saver FD scheme to save your money as well as save tax.
They also have introduced Sri Chakra Deposits which is a FD scheme under the auto renewal option. The minimum amount for this Fixed Deposit is Rs. 5000 and in multiples of Rs. 5000 thereafter. Auto renewal will be done by system up to a maximum of 5 times every year and the rate of interest will be at the prevailing rate every year. Pre-closure is allowed under this option and the interest will be paid accordingly. You can even avail loan under this scheme of up to 75% of the initial deposit.
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