Established in November 1919 as a restricted organization in Mumbai, this BSE recorded bank has made some amazing progress regarding the steady development and vital acquisitions. Today, UBI is one of the biggest open division banks in the nation with a solid system of 4,000 branches bolstered by a little more than 6,400 ATMs.

Recurring Deposits (RD) From Union Bank of India

Likened to other open area banks, Union bank offers RD plans with appealing loan fees and adaptable components. Two plans forms the centre of the term deposit portfolio. These alternatives help financial specialists to consistently construct corpus over some undefined time frame by method for month to month settlements under this plan.

Cummulative Deposit

The customary RD plot with engaging elements and advantages. Regularly scheduled payment sum can be as low as Rs.50 with a store period going from a half year to 120 months. A one of a kind component selective to this plan is that any break end of regularly scheduled payments, inferable from a bona fide reason, will bring about the current sum changed over into a settled store represent rest of the term.

Union Monthly Plus

A RD conspire that offers adaptability to contribute a sum according to your benefit on the premise of "Center Amount". The contributor can venture up month to month settlements in products of this sum. An additional advantage is that no punishment is required on untimely withdrawals and postponement in regularly scheduled installments.

Features and Benefits of Union Bank of India Recurring Deposits

Cummulative Deposit

Inhabitant Indians which incorporates people, minors, firms, affiliations, corporates, clubs, social orders and so on are qualified to open the CD account. At least two people can work the record together.

Regularly scheduled payment sum begins as low as Rs.50 and in products of Rs.10 from that point.

The contributor can pick a period that best suits venture needs from a term alternative going from 6 to 120 months in products of 1 month.

Once the term of store is chosen at the season of start, it can't be modified. Be that as it may, if there should be an occurrence of cessation of installment of regularly scheduled payments, inferable from a substantial reason, the sum stopped in the CD record can be changed over into a settled store for rest of the term.

Financing costs are connected on a quarterly premise. The development sum will be payable one month after the last portion installment.

Union Monthly Plus

Open for venture to a huge classification of clients, for example, people, foundations, corporates, HUF and so forth.

The contributor can pick a "center sum" which goes about as base sum for venturing up future regularly scheduled payments, clearing route for adaptability. Future portions can't fall underneath the picked center sum.

The time of store begins at a half year with an upper top of 60 months. The client can pick a term between this range in products of 1 month.

No punishment is imposed for delay in regularly scheduled installments or untimely conclusion. This element is one of its kind in the keeping money fragment.

Loan costs will be figured on every day item premise.

Investors likewise fit the bill for advance office of up to 75% of the exceptional sum in the RD account.

Interest Rate for RD Scheme

Period
ROI (% p.a.)

181 day to <10 Month
6.95

10 Month to 14 Month
7

>14 Month to 3 Year
6.8

>3 year - 5 Year
6.8

>5 year - 10 Year
6.8