Bank of India Logo
BOI

Private Sector

vs
Union Bank of India Logo
Union Bank

Public Sector

Bank of India vs Union Bank of India Recurring Deposit Comparison 2025

Compare interest rates, features, and returns between Bank of India (Private Sector) and Union Bank of India (Public Sector). Compare the security of public sector banking with the convenience of private sector services.

BOI: Min ₹500
Union Bank: Min ₹100
Security vs Convenience
Compare Your RD Returns
500₹50,000
years
1 year10 years

Interest Rate Comparison

RD Interest Rates by Tenure

General rates across different tenures

Current selection: 3 years (1095 days) -BOI: % |Union Bank: %

Side-by-Side Rate Comparison

Direct comparison of general rates

BOI
Union Bank

Feature Comparison

Features
BOI
BOI
Private Sector
Union Bank
Union Bank
Public Sector
Minimum RD Amount
500
100
Current Interest Rate (Selected Tenure)
%
%
Premature Withdrawal Penalty
1%
1%
Official Rate Source
View Official RatesView Official Rates
Bank of India
Private Sector Bank

Key Advantages:

Government-owned bank with strong security
Established in 1906, nationalized in 1969
Wide branch network across India
Special Star Utsav FD scheme (777 days)
Green Deposit for sustainable investments
Tax-saving FD options available
Union Bank of India
Public Sector Bank

Key Advantages:

Government-owned bank with strong security
Merged entity strength
Pan-India presence
Affordable banking rates
Competitive interest rates
Super senior citizen benefits (80+ years)
Important: Recurring Deposit Safety & Insurance Coverage

₹5 Lakh Insurance Limit

The Deposit Insurance and Credit Guarantee Corporation (DICGC) provides insurance coverage of up to ₹5 lakhs per depositor per bank. This includes both principal and accrued interest for RDs.

⚠️ Recommendation:

Keep your total deposits (RDs + FDs + Savings) under ₹5 lakhs per bank. If you need larger investments, distribute them across multiple banks.

Smart Distribution Strategy

Multiple RDs: Open RDs in both BOI and Union Bank

Family Accounts: Use different family members' accounts for additional coverage

Best of Both: Combine BOI (convenience) with Union Bank (security)

💡 Pro Tip:

RDs are perfect for goal-based investing. You can open separate RDs for different financial goals across different banks to maximize returns and safety.

Key Insights & Recommendations

Choose BOI If:
  • • Minimum amount: ₹500
  • Private Sector banking preference
  • Government-owned bank with strong security
  • Established in 1906, nationalized in 1969
  • Wide branch network across India
Choose Union Bank If:
  • • Minimum amount: ₹100
  • Public Sector banking preference
  • Government-owned bank with strong security
  • Merged entity strength
  • Pan-India presence
Best Strategy:
  • • Open multiple RDs for different goals
  • • Keep ≤₹5L per bank for insurance
  • • Use BOI for convenience
  • • Use Union Bank for stability
  • • Review rates periodically

Ready to Invest in Recurring Deposits?

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