I want to get the details of Union Smart Foreign Currency of Union Bank Of India so can you please provide me?

Union Bank Of India provides Union Smart Foreign Currency to enable the NRIs to maximize the yield of the Foreign Currency Resources / funds

Union Smart Foreign Currency

NRIs often place their repatriable funds in the following term deposits with the banks either in Indian Rupees or in Foreign Currency with certain objectives.

NRE Rupee Term Deposits - To avail of comparatively higher rate of interest.

FCNR (B) Term Deposit - To safe guard themselves from exchange rate risk.

Advantages of the Scheme-

Earn higher returns in foreign currency as compared to FCNR (B) deposit.

Protects against exchange loss.

Interest earned is totally free from Indian Income Tax (as per existing norms).

Maturity proceeds (both principal + Interest) can be repatriated.

Modalities of the Scheme

Purpose:
To enable the NRIs to maximize the yield of the Foreign Currency Resources / funds.

Who can open the account:
Non-Resident Indians of Indian Nationality / Origin (NRI/PIO)

Period of Deposit:
Period of deposit will be for 12 months.

Minimum size of Deposit:
USD 10,000 or its equivalent.

Other Conditions:

No premature extension is permitted.

No credit facility or loan/overdraft is permitted.

Premature withdrawal of the deposit will not be permitted.

Contact-

All-India Toll Free number : 1800 22 22 44 / 1800 208 2244
Charged Numbers : 080-25300175
Dedicated number for NRI : +918025302510