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Senior Citizens Fixed Deposit Interest Rates in City Union Bank

Updated on: Sep 1st, 2023

When it comes to offering financial solutions tailored for senior citizens, City Union Bank stands out with its attractive fixed deposit (FD) rates. Catering specifically to the needs and priorities of the elderly, these FD schemes provide a haven for savings and promise better returns. Given that post-retirement financial stability is crucial, City Union Bank's enhanced interest rates for senior citizens play a pivotal role.


Dive into this blog to gain insights into the senior citizen FD rates provided by City Union Bank and learn how they can amplify your earnings during your golden years.

Features of Senior Citizen FD

Enhanced Interest Rates: Senior citizens typically receive a bonus interest rate on top of the regular FD rates. The specific rate hinges on the bank's current offerings.

Qualification: Only individuals 60 or older can establish a senior citizen FD account.

Duration: Depositors can choose from a diverse range of FD durations, usually between 7 days and 10 years.

Early Withdrawal: Although penalties may apply, senior citizens often benefit from more accommodating terms for premature FD closures.

Borrowing Options: Like other depositors, senior citizens have the privilege of securing loans against their FDs.

Beneficiary Assignment: The bank allows a beneficiary to inherit the FD funds after the account holder's passing.

Tax Deduction at Source (TDS) Implications: Earnings from interest are taxable under Indian tax regulations. Yet, by submitting Form 15H, eligible senior citizens can avoid TDS deductions.

Automatic Renewal: IDBI, among other banks, possibly features an automatic renewal mechanism, ensuring the FD's continuation post-maturity unless directed otherwise.

Deposit Limits: The deposit range for a senior citizen FD can differ. While a minimum threshold is often set, a maximum limit might be absent.

Unique Offerings: Periodically or based on bank initiatives, exclusive perks or attributes tailored for senior citizens may be presented.

Interest Rates of Senior Citizen FDs in CUB


Rate of Interest % p.a


Senior Citizens

7 days to 14 days



15 days to 45 days



46 days to 90 days



91 days to 180 days



181 days to 270 days



271 days to 364 days



365 days to 399 days



400 days



401 to 3 Years



Above 3 Years upto 10 Years



Tax Saver



Eligibility Criteria

The eligibility criteria for the senior citizen FDs is that they need to be at least or above the age of 60 on the day of opening the FD account. They typically need to be residents to open a senior citizen FD; However, NRIs can also open accounts through NRE and NRO accounts.

Documents Required

The documentation required is similar to that of a normal FD account opening. One metric being essential is your age proof.


Identity Proofs

  • Aadhar Card 
  • Passport
  • Driver’s License


Address Proof

  • Gas Bill 
  • Utility Bill 
  • Bank Statement 
  • Cancelled Cheque

Age proof is mandatory to avail of a Senior Citizen FD account.


Who qualifies as a senior citizen at CUB Bank?

Generally, individuals aged 60 years and above are considered senior citizens by most banks, including CUB Bank.

Is there a specific tenure for senior citizen FDs at CUB Bank?

CUB Bank offers a range of tenures for FDs. However, the special interest rate for senior citizens is applicable across various tenures.

Can I open a joint FD account with a senior citizen rate?

Yes, but typically, the primary account holder must be a senior citizen to avail of the special rates.

Earn once in a decade
returns on FD

Lock in returns as high as
8.35% before they go down

Top Banks Senior Citizen FD Rates

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