Skip to content
Free updates Login
BankingNABARD / RBI

PSB Special Deposit Schemes: Union Bank 375-Day FD, Canara TruEdge

14 May 20251 min read
BANKING & FINANCEPSB Special DepositSchemes: UnionBank 375-Day FD,Canara TruEdge14 May 2025safalsetu.com

Why in the news

Slower deposit growth pushed state-run banks to launch fresh schemes to attract money.

Key facts

FeatureUnion Bank of IndiaCanara Bank
ProductSpecial 375-day fixed depositCanara TruEdge, a CASA combo
Terms6.75% a year; deposit of ₹10 lakh to ₹3 croreCharge waivers linked to previous month’s MAB
Extra375-day Super Top-up health cover, ₹5 lakh, cashlessPersonalised account management

Exam angle

  • MAB: Monthly Average Balance. CASA: current account savings account.

Test yourself

1. What interest rate does Union Bank's special 375-day deposit offer?

The scheme pays 6.75% per annum.

2. What health cover comes with Union Bank's special 375-day fixed deposit?

It includes a ₹5 lakh Super Top-up health cover with cashless hospitalisation.

3. Canara TruEdge benefits are linked to which measure of the previous month?

Benefits depend on the previous month's Monthly Average Balance.

This topic is part of Daily Current Affairs 14 May 2025 (23 topics).

All topics of the dayDay quizMay 2025

Read more