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Accounts & Deposit > Term Deposit > Senior and Super Senior Citizen Benefits In Any Term Deposit Scheme

Senior and Super Senior Citizen Benefits In Any Term Deposit Scheme

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Union Bank offers an additional rate component (over and above the normal interest rate applicable) to Resident Senior Citizens & Super Senior Citizens on term deposit up to Rs. 5 crores in all of its domestic term deposit schemes.

For rate of interest of term deposits for Rs. 2 crore and above, please contact the nearest branch of our Bank.

This additional rate component applicable to domestic term deposits. For Senior Citizens, it is above 0.50% over the normal rate. For Super Senior Citizens applicable rate is 0.75% over the normal rate.

Any person who has completed the age of 60 years is treated as a senior citizen & individuals with age of 80 years and above are treated as Super Senior Citizens.

Joint Account

Senior citizens/Super Senior Citizens may deposit jointly with other persons below the age of 60, under the special scheme for Senior Citizens/Super Senior Citizens

In such cases the name of the Senior Citizen/Super Senior Citizen is to be given as the first name in the application.

NRI senior citizens & Karta of HUF are not eligible for the benefit of additional interest available to resident senior citizens.

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