UCO Sunshine
Recurring Deposit Scheme (Scheme Code - TD 144) with add-on benefits like
anywhere banking, standing instructions etc., is designed to give additional
facilities to those customers who desire to make a SYSTEMATIC INVESTEMENT PLAN
on a monthly basis with higher returns and to accumulate a pre-determined
corpus in a specified period.
1. Who
can open?
a. A person in his/her own name OR
b. Two or more person, in their joint
names.
c. By a natural guardian, i.e. father
or mother on behalf of the minor, by guardian appointed by court.
2. Age
of the Account holder
a. Minors above 5 years represented by
their Parents/Guardians.
b. Resident Indians above 18 years of
age and not exceeding 65 years as on date of opening of the accounts.
3. Pattern
of Deposit -
a. Minimum monthly installment Rs.
500/- AND in multiples thereof.
b. Maximum monthly installment amount
of Rs. 10 lac.
4. Period
of Deposit
a. Minimum 12 monthly installments, and
thereon in the blocks 24 months, 36 months, 48 months and up to 60 months.
5. Rate
of Interest
A. As applicable and linked to normal
Term Deposit Scheme.
6. Nomination
a. The facility of nomination is
available for USRDS Accounts.
7. Privileges
for Senior Citizens / Staff / Ex-staff
a. Additional rate of interest (ROI)
over and above applicable ROI relevant to Banks Term Deposit.
8. Loans
a. Loans may be granted subject to a
maximum of 90% of the USRDS amount.
b. The minimum amount of loan, shall
not be less than Rs. 2500/- and at least 6 monthly installments should have
been paid.
9. Terms
& Conditions
a. All other terms & conditions
applicable for existing Recurring Deposit Scheme of the Bank are also
applicable to USRDS.
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