Flexible deposits are specialised term deposit schemes that allow customers to invest amounts as per their convenience. There is no mandate on a certain amount that must be invested periodically to keep the account running.

Union Monthly Plus offers better flexibility especially for the first-time investors with easy step-up and step-down facility to effectively manage the cash flow. Customers can also add the amount as many times as they want to, till they reach the upper limit. 

Core amount is an initial investment that you choose at the start of opening a Union Monthly Plus account. Your step-up and step-down feature depends on the core amount that you’re willing to invest.

Step-up and step-down features in Union Monthly Plus refers to increasing and decreasing the amount of money to invest in the scheme.

Customers can step-up their monthly investment for up to 10 times of the core amount. 

For example: 

Example: For a Core amount of ₹1000/-, customers can deposit a maximum of up to ₹10,000/- per month.  

Also, the upper limit of monthly investment should not exceed ₹100000/-

Customers can also step-down their monthly investments to diversify their investments or during financial emergencies. However, it shouldn’t be less than the core amount.