| What are the features of Union Bank’s UNION 1100 DAYS Scheme? |
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| The features of an Union Bank’s DRIC Deposit are: |
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- High rates of interest
- Can be deposited as DRIC or as FDR
- Avail loan against your Deposit
- Nomination facility
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| Is TDS applicable on UNION 1100 DAYS Deposits? |
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| Yes, TDS is applicable on these Deposits. |
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| How do I approach to open a UNION 1100 DAYS Deposit? |
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| You can approach us in any of the following ways |
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- Apply Online
- Call us at our 24X 7 Call Centre
- You can just walk into any of our nearest branches
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| Do Senior citizens get any extra benefit on UNION 1100 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 LESS THAN Rs FIVE crores. |
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| Can I redeem my Union 1100 DAYS 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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