|
|
|
|
|
|
|
|
|
|
 | | Link To: Union Million |
|
|
|
|
| Fixed Deposit Receipt |
|
| Features | | | | Forms & Documents | | | | FAQs | | |
|
|
|
|
|
|
 |
|
ELIGIBILITY
|
| Any Resident Individual - Single Accounts, Two or more individuals in Joint Accounts, Illiterate Persons, Blind persons, Purdanasheen Ladies, Minors, Associations, Clubs, Societies, etc. Trusts, Institutions/Agencies specifically permitted by the RBI eligible to open a ""Fixed Deposit Receipt" Account" in single/joint name/s. |
| |
| Minimum amount:- |
| |
Rs.10,000/- for FDR in Metro and Urban Branches and Rs.5,000/- in Rural and Semi urban branches, and for senior citizens the minimum amount will be Rs. 5000/-
Minimum Amount criteria will not be applicable to Subsidy kept under GOVT Sponsored Schemes, Margin Money, earnest money and court attached/ordered deposits |
| |
| Payment of Interest: (Subject to applicable TDS) |
| Interest will be paid on quarterly basis and in case the date of interest payment falls on holidays then on the next working day |
| |
| Payment and Renewal of Deposits Before Maturity |
|
Depositors may request repayment of their deposits before maturity. Repayment of term deposits before maturity is permissible in terms of the directives of the Reserve Bank of India issued from time to time. In terms of the directives, the provision regarding premature withdrawal of deposits is as follows:
In the event of the FDR 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.
|
| |
| Provision for nomination.:- Nomination facilities are available |
|
| Rate of Interest :- Rate of interest differs from depending upon tenure of the deposits and as and when the Bank changes the Rate. |
| 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 : |
|
|
| |
| | |
| For the Customers having any existing Account with Union Bank |
For the New Customers not having any Account with Union Bank |
- Application Form
- 2 Photographs
|
- Application Form
- Proof of identity (any of the following )
- Passport
- PAN Card
- Employee identity card
- Any other valid proof
- Proof of address (any of the following)
- Electricity bill
- Telephone bill
- Ration card
- Any other valid proof
- 2 Photographs
|
|
| |
| APPLICATION FORM |
- To download the application form, please click here.
|
| |
| | |
| What is the range of tenure for which I can open a FDR account? |
| You can deposit money for as short a period as 15 days and upto 10 years. |
| At what frequency will I receive interest on my FDR? |
| For the Traditional scheme, the interest on the Fixed Deposit Receipts (FDR) account is credited to the Savings account specified by you on a monthly basis or on a quarterly basis. For the Reinvestment scheme, called DRIC, the interest is compounded to the principal amount on a quarterly basis. |
| Is TDS applicable on FDRs? |
| Tax is deducted at source, from the interest on Fixed Deposits, as applicable, as per the Income Tax Act, 1961. |
| How do I approach Union Bank to open a FDR? |
- Apply online.
- Call us at our 24x7 Call Centre
- You can just walk into any of our branches.
|
| Will I get a FD receipt? |
| Yes, if you request for your FDR receipt, we will dispatch it to you by courier at the address given by you at the time of opening the Fixed Deposit Account. |
| Do Senior citizens get any extra benefit on the FDRs? |
| Yes, they do get extra benefits in the form of higher interest rates. |
| Can I redeem my FDR before the original term? |
| Yes, FD can be closed before the original term of the FDR. In the event of the Fixed 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. In case of premature withdrawal the deposit may be subject to penal rate of interest as prescribed by the Bank on the date of deposit. |
| Can I obtain a loan from Union Bank on the security of my FDR? |
Yes, Loan facility is available up -to 90% of principal and accrued interest.
|
| How do I redeem my FDR? |
| After maturity of your FDR, you can walk into any Union Bank branch across the country and claim your deposit by furnishing your Fixed Deposit receipt |
| What are nomination facilities available on FDRs? |
| The facility of Nomination is available for relationships in the names of individuals. |
| |
| |
|
|
|
|
|
|
| Product Testimonial |
|
|
|
|
| Quick Links |
|
|
|
|
 | | Link To: Union Monthly Plus |
|
|
Untitled Page
|