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Union Bank launches Union Double

MADURAI: A new scheme, Union Double, has been launched by the Union Bank of India. The scheme will be offered only for the month of July. It assures to double the investment in eight years and nine months, while for senior citizens the period is eight years and three months. The rate of interest offered is 8 per cent per annum, while the annualised yield will be 11.43 per cent. For senior citizens, an additional interest of 0.5 per cent will be offered. The minimum amount to avail this scheme is Rs. 5,000 while the upper limit is Rs. one crore, says a bank release.

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Union Bank launches Union Double

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