PSB Special Deposit Schemes: Union Bank 375-Day FD, Canara TruEdge
Why in the news
Slower deposit growth pushed state-run banks to launch fresh schemes to attract money.
Key facts
| Feature | Union Bank of India | Canara Bank |
|---|---|---|
| Product | Special 375-day fixed deposit | Canara TruEdge, a CASA combo |
| Terms | 6.75% a year; deposit of ₹10 lakh to ₹3 crore | Charge waivers linked to previous month’s MAB |
| Extra | 375-day Super Top-up health cover, ₹5 lakh, cashless | Personalised account management |
Exam angle
- MAB: Monthly Average Balance. CASA: current account savings account.