Any Resident Individual, Jointly or Singly (only Primary A/c Holder will be covered for Health Insurance)

No, NRI customer cannot open deposit Account under the Union Wellness Deposit Scheme.

Following are the scheme codes for union Wellness Deposit

• TDUW2 (Union Wellness FDR)
• TDUW6 (Union Wellness MIS)
• TDUW3 (Union Wellness DRIC)

18-75 Year

• Minimum Single deposit amount of Rs 10.00 Lac
• Maximum Single deposit below Rs 3.00 Crores.
• Cumulative/Multiple Deposit will not be covered under the scheme.

375 Days (Fixed)

• Card Rates as applicable for this tenure.
• Present ROI for the slab 375 Days is 6.50% (Subject to change from time to time)
• As per existing guidelines Benefit of interest rate for staff and Senior citizen are applicable.

As per existing guidelines of Domestic Term Deposits.

Yes. TDS will be deducted as per guidelines of Domestic Term Deposits.

Available as per existing guidelines of Domestic Term Deposits.

Yes, Nomination in Union Wellness Deposit account is mandatory as Health insurance is linked with deposit.

Conversion of existing Deposit into Union Wellness Deposit through HTDREN and HTDEXT is not permitted. However, Customer at their own discretion may close existing Term Deposit account and open new deposit account under this scheme.

Allowed, subject to the following conditions:

• Interest will be paid for the run period at applicable rate and penalty will be levied as per existing guidelines of Domestic Term Deposits.
• Charges of Debit Card will be levied to the customer as per applicable rate.
• Health Insurance coverage will be terminated on the date of premature closure.

Yes, available. However, Insurance Coverage will not be available on Renewal. In case of Extension of deposit opened under this scheme, insurance coverage will be available till original maturity date. 

• Super Top up Health Insurance of Rs 5.00 Lakhs.
• All depositors will be eligible for RUPAY Select Debit Card in their existing/ newly opened savings/current account (Individual or Proprietorship), with normal minimum Balance as per category of the Branch.
• If any customer already having debit card of lower variant, he may surrender existing card and avail RUPAY Select Debit Card.

Bank will provide Super Top Up Policy for Sum Insured of  Rs.5.00 lakhs free of cost to the customer. The insurance cover will be available only for expenses over and above Rs.5.00 lakhs i.e. initial amount of Rs 5.00 Lakhs to be paid  by the customer (In case of Customer is not having any Health Insurance to cover up to initial  Rs.5.00 Lakhs) or by the existing Health Insurance company or by both  customer as well as Health insurance company (in case  customer  having  existing health insurance policy for less than Rs 5.00 lakhs).

Only Primary A/c Holder will be covered under Insurance in case of joint Deposit Account.

• No. If a customer opened multiple deposits under this scheme and closed his first deposit account, then he is not eligible for insurance coverage for other account
• Means one customer is eligible for only one time i.e. on his first account. Only first deposit will be considered for coverages

No. Rupay Select Debit Card can be issued only to Primary Account holder.

Yes, it is applicable as per existing guidelines. Presently it is Rs.400.00 + GST

• In case of premature closure or Non-Renewal after maturity under the same Scheme Code, RUPAY SELECT Debit Card must have to be surrendered, applicable charges has to be collected and labelling in the operative account has to be withdrawn then only system will allow closure of Term Deposit Account.
• In case customer wants to close the UNION WELLNESS TD account and wish to continue with the RUPAY SELECT debit card; In such case labelling has to be withdrawn from the linked account and linked accounts must be upgraded to higher variant (SBHNI/SBHNP/UNNCA/UCCA) before the closure of TD account.