When it comes to investing, many people prefer fixed deposits as they typically offer higher interest rates with lower risk. However, the exact interest rate varies from bank to bank. In a latest development, Union Bank of India has introduced a new fixed deposit scheme called the ‘Union Wellness Deposit’. This plan offers two key benefits to regular customers- it helps them grow their savings through interest and also provides health protection. It’s designed to combine financial security with health coverage, giving customers more value for their investment.
Customised For 18-75 Years Old
The new FD scheme is specifically designed to the age group between 18- 75 years of age. The Union Wellness Deposit (UWD) comes with a complimentary health insurance of Super Top-up Health Insurance cover for 375 days. Moreover, health insurance cover and lifestyle benefits via a RuPay Select Debit Card is another perk that you will be getting with this FD scheme. For joint accounts, the insurance cover will be applicable only to the primary account holder.
“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.
Union Wellness Deposit Comes With Extra Features
- You can close it early if needed
- You can also take a loan against the deposit
- You need to deposit at least ₹10 lakh, and you can go up to ₹3 crore
- The deposit is locked for a fixed time of 375 days
- You’ll earn 6.75% interest per year, and senior citizens get 0.50% more
- It also includes a ₹5 lakh health insurance (Super Top-up plan) that allows cashless hospital treatment
The 375-day Super Top-up Health Insurance cover will offer a sum insured of Rs 5 lakh with cashless hospitalisation facilities.
