New Delhi: These days, there is a massive increase in the number of investors in the stock market. In recent years, the pace of deposits has been very slow, for which banks are also coming up with many measures. The banks are also running many attractive schemes, which will work to make people rich. Union Bank of India, counted among the big banks, has introduced a grand scheme.
This is a term deposit scheme. It has been named Union Wellness Deposit. The purpose of this scheme is to connect as many people as possible. This scheme has been made keeping in mind financial and health. It has insurance cover as well as financial benefits. If you want to know important things related to the scheme, then you can read the entire article carefully till the end.
Important things related to the scheme
Union Bank of India’s scheme is enough to make people rich. This scheme is available for residents aged 18 to 75 years. Most importantly, personal and joint accounts can also be opened. Insurance coverage in a joint setup is limited to primary account holders.
What is the minimum investment required?
You can invest a minimum of Rs 10 lakh in the bank’s Union Wellness Scheme. This investment can go up to a maximum of Rs 3 crore. It comes with a fixed period of 375 days. During this period, depositors will benefit from an interest rate of 6.75 per cent annually, most importantly, the 0.50 per cent provided to citizens in the scheme.
This scheme also allows closing the plan on time and taking a loan against the deposit. Its flexibility increases. A special thing about this scheme is the 375-day super top-up health insurance cover. It provides an insurance amount of Rs 5 lakh and cashless hospitalisation benefits.
Know the bank’s quarterly results.
Union Bank of India recorded a 50 per cent increase in net profit in the March quarter. This is Rs 4,985 crore compared to Rs 3,311 crore in the same quarter last year. There has been an increase in total income. It increased from Rs 31,058 crore a year ago to Rs 33,254 crore.