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New FD from Union Bank offers 6.75% Interest + Free Rs 5 lakh health cover
Union Bank of India has launched an innovative term deposit product titled 'Union Wellness Deposit', aimed at offering a dual benefit of wealth creation and health protection for its retail customers.
Designed specifically for resident individuals aged between 18 and 75 years, the Union Wellness Deposit scheme integrates a fixed deposit with a complementary 375-day Super Top-up Health Insurance cover and lifestyle benefits via a RuPay Select Debit Card. For joint accounts, the insurance cover will be applicable only to the primary account holder.
Key features of the scheme include:
Minimum deposit amount: Rs 10 lakh
Maximum deposit amount: Rs 3 crore
Fixed tenure: 375 days
Interest rate: 6.75% per annum (with an additional 0.50% interest for senior citizens)
Health insurance cover: ₹5 lakh Super Top-up with cashless hospitalization
Additional features: Premature closure option and loans against the deposit
A distinctive feature of this product is the inclusion of a 375-day Super Top-up Health Insurance cover, offering a sum insured of Rs 5 lakh with cashless hospitalization facilities.
'The launch of the Union Wellness Deposit reflects our ongoing commitment to delivering innovative and premium banking experience to our valued customers. As the first-of-its-kind offering, this product combines wealth creation with a range of health care benefits," said A. Manimekhalai, Managing Director and CEO of Union Bank of India.
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