Hi I am interested in having the information about the Union Savings Flexi Deposit Account offered by the Union Bank of India?

Union Savings Flexi Deposit Account has incorporated components of the Savings Deposit and Fixed Deposit, in particular liquidity with higher interest returns on surplus assets. By deciding on this plan, a client can appreciate the advantages like liquidity and simplicity of operation of investment account and higher profits for surplus assets like altered stores. You get the accompanying offices:

Platinum card is issued to all record holders with no charge.

Free Unlimited NEFT/RTGS office

Free 5 Check Books for each year

How does the scheme work?

Account Opening:

The contributor opens a Savings Bank Flexi Account with a base starting measure of Rs 50,000/ - . Any surplus sum above Rs.50, 000, in products of Rs.10, 000 gets moved into Flexi Deposit account.

On the off chance that the parity in SB account falls beneath the Threshold parity (Rs.50, 000), the hole is crossed over by softening the flexi store account up products of Rs.5, 000.

Exchange of assets from FD Flexi to SB Flexi Account will be under LIFO (Last in First out) technique where the connected FD units made most as of late will be shut first for exchange to the SB Flexi Account.

Who Can Open an Account?

All people, separately or together who are qualified to open Savings A/C - this plan is additionally open to Non-Resident Indians who are qualified to open a record according to or existing guidelines and controls.

Time of Deposit

The Fixed period will fluctuate between 46 days to 1 year. If there should be an occurrence of NRI Deposit, least period will be one year.

Rate of Interest

As appropriate to Savings Bank Deposit and Fixed Deposit in power every once in a while. Interest will be paid on a quarterly premise on the Fixed Deposit Flexi Account.

Different Features

A Passbook will be issued to the contributor with all the subtle elements of SB Flexi Account, the connected FD Flexi Account, TDS change if any and so on

No different Deposit Receipt should be issued by the Bank for the Union Flexi Deposit Scheme

Assignment office accessible.

Move over of store on development is allowed

TDS is relevant on the stores in the connected FD Flexi Account

No advance/overdraft/lien will be allowed against the connected FD Flexi Account under this Scheme