For many investors, fixed deposits are a preferred choice due to their attractive interest rates and lower risk profile. Recently, Union Bank of India has unveiled a new fixed deposit option named the 'Union Wellness Deposit'. This scheme not only aims to enhance savings through competitive interest rates but also integrates health protection, offering customers a dual advantage.

The Union Wellness Deposit is specifically crafted for individuals aged between 18 and 75 years. This scheme includes complimentary Super Top-up Health Insurance coverage for a duration of 375 days. Additionally, account holders will benefit from lifestyle perks through a RuPay Select Debit Card. It's important to note that for joint accounts, the health insurance will only extend to the primary account holder.

• Early closure of the deposit is permitted if necessary.
• Loans can be secured against the deposit.
• A minimum deposit of ₹10 lakh is required, with a maximum limit of ₹3 crore.
• The deposit term is fixed at 375 days.
• Interest rates stand at 6.75% annually, with an additional 0.50% for senior citizens.
• The scheme includes a ₹5 lakh health insurance plan that facilitates cashless hospital treatment.

The Super Top-up Health Insurance cover for 375 days provides a sum insured of ₹5 lakh, ensuring cashless hospitalization options.

This innovative offering from Union Bank of India represents a significant step in merging financial growth with health security, as highlighted by A. Manimekhalai, the Managing Director and CEO of the bank.