Union Bank of India offers an additional rate component (over and above the normal interest rateapplicable) to resident Senior and Super senior citizens on term deposits up to Rs. 5.00 Crores in allof its domestic term deposits scheme. For rate of interest of term deposits for RS. 2 Crores andabove, please contact the nearest branch of our bank. The additional rate component, applicable to resident senior citizen term deposits is 0.50% over therate applicable to normal rates. The additional rate applicable to resident super senior citizen term deposits is 0.75% over the rateapplicable to normal rates for the term deposits opened/renewed on or after 01.12.2022. ELIGIBILITY : Any person who has completed the age of 60 years and 80 years is treated as a senior citizen andsuper senior citizen respectively, for obtaining the benefit of the additional interest. JOINT ACCOUNT: Senior or Super Senior Citizen may deposit jointly with other persons below the age of 60 or 80respectively, with benefit of additional rate of interest. In such cases the name of the senior/supersenior citizen is to be given as the first name in the application. NRI Senior/Super Senior Citizens are not eligible for the benefit of additional interest available toresident super senior citizen. DOCUMENTATION: At the time of opening a new deposit account, the Senior/super senior citizen may produce any ofthe following documents as proof of age. VERIFICATION: Once the age of a Senior/super senior citizen is verified for accepting deposit under the specialscheme for senior/super senior citizens, no further proof of age is required while acceptingsubsequent deposits or for renewal of deposit of the senior/super senior citizen.
Senior & Super Senior Citizen Benefit in any term deposit scheme
