BoI vs Union FD Rates October 2026

BoI offers up to 6.85% p.a. · Union up to 6.80% p.a. · Side-by-side across all tenures, general & senior citizen rates.

FD Rate Comparison — All Tenures

Highlighted cells show the higher rate for each tenure. Dataset refreshed 1 Oct 2026.

1-year FD winner BoI 6.50% vs 6.20%
Savings account BoI 2.75% vs 2.50%
Tenure BoI Union
GeneralSenior GeneralSenior
6 months 5.50% — 5.40% 5.90%
1 year 6.50% 7.15% 6.20% 6.70%
2 years 6.60% 7.25% 6.15% 6.65%
3 years 6.70% 7.60% 6.10% 6.60%
5 years 6.00% — 6.00% 6.50%

Rates for retail deposits below ₹3 crore. Senior citizen rate typically +0.25–0.50% p.a. Green cells show the higher general rate for each tenure. Calculate your maturity amount →

Savings Account Rates

BoI
2.75% p.a.
vs
Union
2.50% p.a.

Which bank should you choose?

Both BoI and Union are government-owned public sector banks, regulated by the RBI and majority-owned by the Government of India. BoI holds a slim rate advantage right now. For most depositors the difference is modest; branch proximity and existing banking relationships are equally worth weighing.

This is informational only — always verify the current rate on the bank's official website and consult a financial adviser for personalised guidance.

About These Banks

Bank of India

Type
Public Sector Bank
HQ
Mumbai
Est.
1906
Best FD rate
6.85% p.a.
DICGC insured
Yes (up to ₹5 lakh)
Full profile
BoI deposit rates →

Union Bank of India

Type
Public Sector Bank
HQ
Mumbai
Est.
1919
Best FD rate
6.80% p.a.
DICGC insured
Yes (up to ₹5 lakh)
Full profile
Union deposit rates →

Frequently Asked Questions

Which bank gives a higher FD interest rate — Bank of India or Union Bank of India?

Bank of India currently offers a higher maximum FD rate of 6.85% p.a., compared to 6.80% p.a. from Union Bank of India (as of 1 Oct 2026).

What is Bank of India's current 1-year FD interest rate?

Bank of India offers 6.50% p.a. for general depositors on 1-year FDs, and 7.15% p.a. for senior citizens (as of 1 Oct 2026). Confirm the current rate on Bank of India's official website before investing.

What is Union Bank of India's current 1-year FD interest rate?

Union Bank of India offers 6.20% p.a. for general depositors on 1-year FDs, and 6.70% p.a. for senior citizens (as of 1 Oct 2026). Confirm the current rate on Union Bank of India's official website before investing.

Are fixed deposits with Bank of India and Union Bank of India safe?

Yes. Both Bank of India and Union Bank of India are regulated by the Reserve Bank of India (RBI). Deposits at both banks are insured by the Deposit Insurance and Credit Guarantee Corporation (DICGC) up to ₹5,00,000 per depositor per bank, covering principal and interest combined. Amounts above ₹5 lakh are not covered by deposit insurance.

Do Bank of India and Union Bank of India offer higher FD rates for senior citizens?

Yes, both banks offer additional interest for senior citizens (aged 60 and above), typically 0.25%–0.50% p.a. above the general rate. Bank of India's 1-year senior rate: 7.15% p.a. Union Bank of India's 1-year senior rate: 6.70% p.a.

What is the highest FD rate available between Bank of India and Union Bank of India?

The highest rate between the two is 6.85% p.a. from Bank of India for the 999 days (Green Deposit) tenure (general public, retail deposits below ₹3 crore, as of 1 Oct 2026).