Union Bank of India- Product

Search

Home You are here : path  Products path International path NRO Fixed Deposit

image  NRO FIXED DEPOSIT


Eligibility

Non Resident Individuals

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 days

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 term 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 deposit, interest will be paid at the rate applicable on the date of deposit, for the period of which the deposit has remained with the bank, with premature closure penalty.

Nomination

Available

Rate of Interest

Rate of Interest differs from depending upon tenure of the deposits and as and when the Bank Changes the Rate.