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UNION MILLION
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Union Million Deposit scheme
 
To encourage long term deposits from customers, the Bank has launched a new deposit product called Union Million Deposit at competitive rates.
 
The Union Million Deposit Scheme is designed to meet customer demand for a deposit which meets a predetermined target amount. The Maturity Value will be Rupees One Million [i.e. Rs Ten lakhs] for a ten year plan at a rate of 8.00 % p.a., compounding quarterly.
 
The deposit can be either in the form of a Deposit Reinvestment Certificate with lump sum investment of Rs 4,52,891 or a Cumulative [recurring] Deposit with monthly installments of Rs 5,450.
 
  For Public For Senior Citizen
Cumulative Rs 5,450 Rs 5,300
DRIC Rs 4,52,891 Rs 4,31,239
 
ELIGIBILITY:-
 
Any Resident Individual - Single Accounts, Two or more individuals in Joint Accounts, Illiterate Persons, Visually Impaired persons, Purdanasheen Ladies, Associations, Clubs, Societies, etc. Trusts, Institutions/Agencies specifically permitted by the RBI eligible to open a "UNION MILLION DEPOSIT Account" in single/joint name/s.
 
 
Provision for nomination:- Nomination facilities are available
 
 
Senior citizens are offered additional interest of 0.50 % for deposits placed for 1 year and above period.
 

For Useful Information please click the links below  :

 
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