1.
Title
of the Scheme: UCO TRIPLE ONE Fixed Deposit Scheme
2.
Period
of operation of the Scheme: The scheme would be open for the general public
from June 12th, 2012 and will remain valid up to July 31st, 2012. However,
the Bank would reserve the right to modify, withdraw or extend the scheme
without any prior notice.
3.
Eligibility
to Open Account: Eligible Depositors under the Scheme would be same as
eligible depositors in Fixed Deposit Scheme currently available in the Bank.
4.
KYC
(Know Your Customers) Norms: KYC Norms for opening account are applicable
for these accounts and hence proof of residence and proof of identification
will be required along with recent photograph of the depositor/s.
5. Period of Deposit:
111 days
6. Amount of Deposit:
a) Minimum Amt. :- 5000/- (thereafter in multiples of 1000/-)
b) Maximum Amt. :- Upto
500 lac
7. Rate of Interest:
9.15% per annum (simple interest).
8. Payment of Interest:
Interest will be paid only at the time of maturity along with principal with
simple rate of interest effect. However, the payment/credit of interest to the
account will be subject to TDS as applicable.
9. Premature Withdrawal:
In all cases of premature withdrawals, the interest would be payable at 1%
below the applicable card rate under the normal fixed deposits for the period
for which the deposit has remained with the Bank as on the date of deposit and
not at the contractual rate.
10. Loan/Overdraft against
the Deposits: Facility for availing
loan/overdraft against ‘UCO TRIPLE ONE’ deposit scheme would be available as
per existing guidelines for availing loan/overdraft against Bank’s own Fixed
Deposits.
11. Nomination: The
facility of nomination would be available under the scheme.
12. Payment to Nominee/
Legal Heirs: In the event of the
death of the depositor, the deposit would be paid to the nominee/legal heirs as
per the existing rules.
16. Automatic Renewals:
No auto renewal is permitted under ‘UCO TRIPLE ONE Fixed Deposit Scheme
17. Tax Implications:
Tax would be deductible at source as per the prevailing Income Tax rules.
18. Transferability: The
deposit is not transferable. However,
the deposits are transferable from one branch to another branch in the same
name(s) would be permissible without any charge and as per the existing Bank’s
procedure.
21. Applicability of
normal Fixed Deposit Rules: Other than the special terms and conditions of
the scheme, the deposits under the scheme would be governed as per the normal
Fixed Deposit Rules of the Bank.
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