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  #1  
June 2nd, 2016, 09:44 AM
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Recurring Deposit Scheme In Union Bank Of India

I am planning to open an account in the Union Bank of India and want details about the Recurring Deposit Scheme In Union Bank Of India. Can you please provide details about interest rates and features of this RD Scheme also tell list of documents required for this?
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  #2  
June 2nd, 2016, 10:39 AM
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Join Date: Mar 2013
Re: Recurring Deposit Scheme In Union Bank Of India

Union Bank of India is one of the largest government-owned banks of India and was founded in November 1919 as a limited company in Mumbai.

Union bank offers RD (Recurring Deposit) schemes with attractive interest rates and flexible features.

Cumulative Deposit

The traditional RD scheme with appealing features and benefits of monthly installment amount can be as low as Rs.50 with a deposit period ranging from 6 months to 120 months.

Union Monthly Plus

An RD scheme that offers flexibility to invest an amount as per your convenience on the basis of “Core Amount”. The depositor can step up monthly remittances in multiples of this amount.

Interest Rates Offered on Union Bank’s Recurring Deposit

For all deposits ranging from Rs. 1 to Rs. 10 crores, the interest rate ranges from 8.25 to 8.50%.

Senior citizens are eligible for an additional rate of 0.50% over the prevailing rates.

You will be required to bring following documents below to facilitate this:

ID and address proof
Passport sized photograph
Introduction as per bank rules
PAN and contact details

Some features of this scheme:

The Scheme is available to Individuals / Institutions / Corporates / Proprietorship / Partnership / Trust / HUF et
The customer will have to select the "Core Amount", at the time of opening the account and deposit the same, initially
Minimum Core Amount is Rs.100/- & Maximum Rs.1,00,000/-
The period of deposit will be from 6 month to 60 months, in multiple of one month
Rate of interest on this scheme will be as per the Term Deposit rate applicable for the period
Interest will be calculated on daily product basis.

Contact:

Union Bank of India
Union Bank Bhavan, 239, Vidhan Bhavan Marg
Nariman Point, Mumbai - 400 021
Maharashtra, India
Phone number [Board]
022-22892000


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