Union Monthly Plus is a novel recurring deposit scheme with easy step-up and step-down options. With its user-friendly investments, you can take more control of your money flow towards future savings, which makes it especially ideal for new investors.
The Union Monthly Plus is a very popular Recurring Deposit Scheme that offers attractive rates of interest.
Through this scheme, people can save money easily and not worry about the amount they wish to deposit every month as they can easily increase or decrease the same by using the Step Up and Step Down options. Their minimum deposit every month can be as low as Rs.100.
Tenure | Deposits Below Rs.1 Crore |
180 days | 7.00 |
181 days to less than a year | 7.25 |
1 year | 7.50 |
Above 1 year - 3 years | 7.55 |
Above 3 years - 5 years | 7.50 |
Above 5 years - 10 years | 7.25 |
Note : Senior Citizens will receive 0.5 percent per annum additional interest on the normal rates.
The minimum amount required to invest in the Union Monthly Plus RD scheme is Rs.100.
Yes, you can avail yourself of a loan facility against Union Monthly Plus RD scheme.
The minimum period for the Union Monthly Plus RD scheme is six months.
No, you will not be charged a penalty for premature closure of the Union Monthly Plus RD scheme.
Yes, you can avail yourself of a nomination facility against Union Monthly Plus RD scheme.
The interest earned on the RD will be credited on a quarterly basis in your account.
The maximum amount that can be invested in the Union Monthly Plus RD scheme is Rs.1,00,000.
The maximum tenure for the Union Monthly Plus RD scheme is 60 months.
No, you will not be charged a penalty for late deposit of the RD installment.
Yes, you are allowed to prematurely withdraw your Union Monthly Plus RD scheme.
Yes, Union Bank of India allows you to change nominees.
Yes, you can open the Union Monthly Plus RD account for a minor under a parent or guardian.
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