2023 2024 EduVark > Education Discussion > General Discussion


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June 7th, 2016, 02:17 PM
Super Moderator
 
Join Date: Mar 2012
Re: Union Bank Of India FD Plan

As you have asked about the Union Bank of India Fixed deposit receipt plan, I am giving you information about it, check below for the details

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

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.


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