Union Bank of India Senior citizens

Union Bank offers an additional rate component (over and above the normal interest rates applicable) to senior citizen on any size of deposit in all of its domestic term deposit schemes.

This additional rate component, applicable to domestic term deposits of one year and above is 0.50% over the normal rate.

ELIGIBILITY

Any person who has completed the age of 60 years is treated as a senior citizen for obtaining the benefit of the additional interest.

DOCUMENTATION

At the time of opening of a new deposit account, the senior citizen may produce any of the following documents as proof of age.

1) Senior School Leaving Certificate indicating date of birth.
2) LIC policy
3) Voters Identity Card
4) Pension Payment Order
5) Birth Certificate issued by the competent authority
6) Passport
7) Any other document acceptable to the bank

VERIFICATION

Once the age of a senior citizen is verified for accepting deposit under the special scheme for senior citizens, no further proof of age is required while accepting subsequent deposits or for renewal of deposit of the senior citizen.

JOINT ACCOUNT

Senior citizen may deposit jointly with other persons below the age of 60, under the special scheme for senior citizen. In such cases the name of the senior citizen is to be given as the first name in the application.

Identity proof :

    * Passport
    * PAN card
    * Voter ID card
    * Driving licence
    * Government ID card
    * Photo ration card
    * Senior citizen ID card


Address proof :

    * Passport
    * Telephone bill
    * Electricity bill
    * Bank Statement with Cheque
    * Certificate/ ID card issued by Post office