| What are the features of Union Bank's DRIC Scheme? |
| The features of an Union Bank's DRIC Deposit are: |
- High rates of interest with quarterly compounding and option for re-investment of interest
- Avail loan against your DRIC Deposi
- Minimum deposit period is 6 month
- Nomination facility
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| What is the minimum deposit amount required for opening a DRIC Deposit account? |
| Minimum amount of deposit will be Rs.100/- in Rural/Semi-urban centers and Rs.500/- in Urban/Metro centers and in multiples thereof. |
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| What is the tenure for which I can open a DRIC account? |
| Deposits can be opened for any period from 6 months to 120 months |
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| Is TDS applicable on DRIC Deposits? |
| Yes, TDS is applicable on DRIC Deposits. |
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| How do I approach to open a DRIC Deposit? |
| You can approach us in any of the following ways |
- Apply online.
- 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 DRIC Deposits? |
| Senior citizens are offered additional interest of 0.50 % for deposits placed for 1 year and above period. |
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| Can I redeem my DRIC Deposit before the original term? |
| In the event of the DRIC 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 DRIC Deposits? |
| Nomination facility is available for relationships in the names of individuals. |
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