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.
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.
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.