Union Bank of India has introduced a new retail Fixed Deposit (FD) scheme called the Union Wellness Deposit, which offers investors both the benefits of a fixed deposit and added perks like health insurance and lifestyle benefits.
Features of Union Bank of India’s FD Scheme
The Union Wellness Deposit has a tenure of 375 days, with the following key details:
Interest Rate: General investors will earn 6.75% annual interest, while senior citizens will receive an additional 0.50%.
Investment Range: The minimum investment amount is Rs 10 lakh, and the maximum is Rs 3 crore.
Facilities: The scheme offers features such as premature closure and the option to take a loan against the FD.
Health Insurance and Lifestyle Benefits
A standout feature of this FD scheme is the super top-up health insurance cover of Rs 5 lakh, which includes cashless hospitalization for the 375-day duration.
Additionally, investors will be provided with lifestyle benefits through a RuPay Select debit card.
Eligibility for the Scheme
The scheme is available to resident Indians aged between 18 and 75 years. It can be opened under both single and joint accounts.
However, for joint accounts, only the primary account holder will be eligible for the health insurance cover.
Fixed deposits are a secure investment choice, and this scheme combines that with additional health and lifestyle perks.
