Union Bank Of India FCNR Interest Rates

Hello sir, I want to open a FCNR account in Union bank of India. Is there any one can provide me detail for Union Bank Of India FCNR Interest Rates?

The Union bank of India is provides FCNR account facility to its customers. The FCNR account is meant for those who wish to hold the deposit in a foreign currency of their choice.

The current options are the US dollar (USD), Pound sterling (GBP), Japanese Yen (JPY), Euro, Australian Dollar(AUD) & Canadian Dollar (CAD).

The major advantage of this account is that the depositor need not worry about the Exchange rate fluctuations.

NRIs can choose between tenure of 1year to 5 years

Union Bank of India was revised the interest rates applicable to FCNR(B) deposits. Dollar-denominated deposits maturing in one to two years neither were nor earn 2.84% as against 2.86%.

Two-three years deposit will earn more at 2.41% as opposed to 2.39%

From 1st July 2016

TENOR MCLR (%)
Overnight MCLR 9.20%
One month MCLR 9.25%
Three month MCLR 9.30%
Six month MCLR 9.40%
One year MCLR 9.45%
Two year MCLR 9.50%
Three year MCLR 9.55%

Base Rate w.e.f. 30/06/2016 9.60% .

Bench Prime Lending Rate [BPLR] w.e.f. 01/03/2016 14.25%

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Answered By StudyChaCha Member