| What are the features of Union Bank’s UNION 700 DAYS Scheme? |
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The features of an Union Bank’s DRIC Deposit are:
- High rates of interest
- UNION 500 DAYS scheme also available
- Can be deposited as DRIC or as FDR
- Avail loan against your Deposit.
- Nomination facility.
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| Is TDS applicable on UNION 700 DAYS Deposits? |
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| Yes, TDS is applicable on thesedDeposits. |
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| How do I approach to open a UNION 700 DAYS Deposit? |
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You can approach us in any of the following ways :
- Apply onlin
- Call us at our 24x7 Call Centre
- You can just walk into any of our branches
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| Do Senior citizens get any extra benefit on UNION 700 DAYS Deposits? |
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| Senior citizens are offered additional interest of 0.50 % for these deposits |
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| What are the minimum and maximum amounts of deposit under this scheme? |
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| The minimum amount will be Rs 1,000 and the maximum amount will be Rs FIVE crores |
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| Can I redeem my Union 700 DAYS DRIC Deposit before the original term? |
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| In the event of the deposit being closed before completing the original term of the deposit, interest will be paid at the rate applicable on the date of deposit, for the period for which the deposit has remained with the Bank, with premature closure penalty. |
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| What are the nomination facilities available on these Deposits? |
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| Nomination facility is available for relationships in the names of individuals. |
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| Can I change the nominee(s) for my Deposit? |
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| You change the nominee(s) during the currency of the accounts with the Bank, by making a declaration effect in the appropriate form, which is available with any Union Bank branch. |
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| Can NRO deposits be opened under this scheme? |
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| Yes, Non Resident Ordinary accounts can be opened, using domestic funds |
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| Is Loan available against this deposit? |
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| Yes, loan against deposit is available at 1% over the deposit rate |
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