Union Bank Of India RD Schemes

I want to get the details of Union Monthly Plus Recurring Deposit Scheme of Union Bank Of India so can you provide me?

[pawan]

Union Monthly Plus is a Novel User-friendly Recurring Deposit Scheme, with flexibility of Step Up and Step Down options, with monthly installment.

Union Monthly Plus

Features :-

The Scheme is available to Individuals / Institutions / Corporates / Proprietorship / Partnership / Trust / HUF et

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.

Step Up option :

Customer can deposit maximum upto Rs.10,000/- per month.

Depositor can increase (Step Up) the monthly installment amount upto 10 times the Core Amount during any month. The installment can also be deposited one or more times during a month, subject to maximum ceiling of 10 times Core Amount.

Example: Core Amount Rs.1,000/-

For accounts opened on or after 01.05.2009, maximum amount that can be remitted during a month including step up is limited to Rs.1,00,000 (Rupees One Lakh Only)

Step Down Option :

After stepping up the instalment amount, a customer can also reduce the same (Step Down), in any subsequent month/s, but the same should not be less than the Core amount

Premature closure is allowed

No penalty will be charged in case of premature closure

Similarly, no penalty will be levied on delayed installment

Nomination facility is available, like other Deposit Scheme

Loan facility is permitted upto 75 % of the deposit amount, at the time of availing loan, at 2 % ODR

Contact-

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