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UCO BANK new deposit Scheme Limited Offer The scheme would be open for the general public from June 1st, 2012 and will remain valid up to September 30th, 2012. However, the Bank would reserve the right to modify, withdraw or extend the scheme without any prior notice.
Annexure – I SN PARAMETER DETAILED PARTICULARS 1. Title of the Scheme UCO DOUBLE Fixed Deposit Scheme 2. Period of operation The scheme would be open for the general public from June 1st, 2012 and of the Scheme will remain valid up to September 30th, 2012. However, the Bank would reserve the right to modify, withdraw or extend the scheme without any prior notice. 3. Eligibility to Open Eligible Depositors under the Scheme would be same as eligible depositors Account in Fixed Deposit Scheme currently available in the Bank. 4 KYC (Know Your KYC Norms for opening account are applicable for these accounts and Customers) Norms hence proof of residence and proof of identification will be required along with recent photograph of the depositor/s. 5. Period of Deposit 90 MONTHS (7 Years And 6 Months) 6. Amount of Deposit a) Minimum ` 5000/- (thereafter in multiples of ` 1000/-) Amount: b) Maximum Upto ` 100 lac Amount 7. Rate of Interest 9.35% per annum and the interest will be compounded quarterly. 8. Payment of Interest Interest will be paid only at the time of maturity along with principal with quarterly compounding effect. However, the payment/credit of interest to the account will be subject to TDS as applicable. 9. Premature In all cases of premature withdrawals, the interest would be payable at 1% Withdrawal 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 Facility for availing loan/overdraft against ‘UCO DOUBLE’ deposit scheme against the would be available as per existing guidelines for availing loan/overdraft Deposits against Bank’s own Fixed Deposits. 11. Nomination The facility of nomination would be available under the scheme. 12. Payment to In the event of the death of the depositor, the deposit would be paid to Nominee/ Legal the nominee/legal heirs as per the existing rules. Heirs 13. Participating All branches of the Bank would be authorized to open the ‘UCO DOUBLE’ Branches deposit accounts under the Scheme. 16. Automatic No auto renewal is permitted under ‘UCO DOUBLE Fixed Deposit Scheme’. Renewals However, wherever no specific instructions are received from the depositors, the maturity proceeds will be renewed for a period of 1 year under Banks Normal Term 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. 1 Annexure – I SN PARAMETER DETAILED PARTICULARS 19. Special benefits for Deposits from under-mentioned categories of depositors shall be allowed Senior Citizen/ Staff incentive as per the existing norms. Accordingly, the applicable rates for / Ex-Staff/Senior these special categories would be as under: Citizen & Ex-Staff Additional Principal Maturity ** Category Period Interest Amount Value General Citizen 9.35% ` 10000/- Senior Citizen 0.50 % (9.85%) 90 months ` 10373/- Staff Member (7 Years ` 10760/- 1.00% 10.35%) ` 5000/- Ex-Staff Member AND ` 10760/- Ex-Staff & Senior 6 months) 1.50% 10.85%) ` 11160/- Citizen (**subject to TDS wherever applicable) The overall ceiling in amount for Ex-Staff/ Ex-Staff Senior Citizen for being eligible for higher rate under the scheme shall be equal to the terminal benefits plus `10 lac, as usual. 20. Acceptance of Deposits under the Scheme would be accepted only when accruing as a Deposits under the fresh Fixed Deposit for the Bank. Scheme In other words, the existing Fixed Deposits cannot be directly renewed under the scheme through a premature extension as usual and the existing Fixed Depositors who wish to convert into the scheme would have to compulsorily take premature payment of their existing deposits and pay the usual penal charges for premature closure. However, any existing Fixed Deposit maturing during the scheme period would be eligible to enter into the scheme as it would be a fresh deposit for the Bank under the Scheme. 21 Applicability of Other than the special terms and conditions of the scheme, the deposits normal Fixed under the scheme would be governed as per the normal Fixed Deposit Deposit Rules Rules of the Bank. 2
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