Union Bank Of India DRIC

I want to get the details of Deposit Re-Investment Certificate DRIC in Union Bank Of India so can you provide me?

The Union Bank Of India offer Deposit Re-Investment Certificate scheme, ideal scheme for investing a lump sum amount where interest is compounded quarterly and paid along with the principal amount invested.

Deposit Re-Investment Certificate

Features-

This is an ideal scheme for investing a lump sum amount where interest is compounded quarterly and paid along with the principal amount invested.

Deposits can be accepted for any period from 6 months to 120 months.

Minimum amount of deposit will be Rs.100/- in Rural/Semi-urban centers and Rs.500/- in Urban/Metro centers.

Interest at applicable rate for the period for which the deposit is kept, is automatically reinvested at quarterly intervals

Eligibility-

Any Resident Individual - Single Accounts, Two or more individuals in Joint Accounts, Illiterate Persons, Visually Impaired persons, Purdanasheen Ladies, Associations, Clubs, Societies, etc.

Trusts, Institutions/Agencies specifically permitted by the RBI eligible to open a "DRIC Account" in single/joint name/s.

Senior citizens are offered additional interest of 0.50 % for deposits placed for 1 year and above period.

Tenure-

Deposits can be opened for any period from 6 months to 120 months

Contact-

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

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Answered By StudyChaCha Member