Union Bank of India has introduced a new retail fixed deposit (FD) scheme called Union Wellness Deposit.
This scheme offers the benefits of a fixed deposit along with health insurance and lifestyle perks.
Details of the Union Bank FD Scheme
The Union Wellness Deposit scheme has a tenure of 375 days. Regular investors will earn 6.75% annual interest, while senior citizens will get an extra 0.50% interest.
The minimum investment amount is Rs 10 lakh, and the maximum limit is Rs 3 crore. The scheme also allows premature withdrawal and loan against FD.
Highlights of the 375-Day FD Scheme
The key feature of this scheme is a super top-up health insurance cover of Rs 5 lakh for 375 days.
This includes the benefit of cashless hospitalization. Additionally, investors will receive lifestyle benefits through a RuPay Select debit card.
Who Can Apply
This scheme is available for resident Indian individuals aged between 18 and 75 years.
It can be opened as a single or joint account, but in joint accounts, only the primary holder will get the health insurance benefit.
Fixed deposits are a secure investment option, allowing customers to deposit a lump sum for a fixed period.
