United Flexi Deposit Scheme

1. Name of the Scheme

United Flexi Deposit Scheme
2. Eligibility for opening Account
Any indiidual singly or !"ointly.
#. $ate of %nstalments
&uantum of monthly instalment is flexible. 'he depositors shall hae only to choose a
core monthly instalment (hich is the minimum amount that has to be deposited
compulsorily as minimum instalment in any month. 'he amount of core instalment
may be $s.)*+, or in multiple thereof. %n any particular month- monthly instalment (ill
not exceed ten time of the core amount.
.. /eriod of Deposit
/eriod of deposit shall !be for any period bet(een 1 and 1* years in multiple of
complete years.
). $ate of %nterest
As applicable to term deposits as per directie of the 0an1 issued from time to time.
2. /ayment of %nterest
%nterest is payable half yearly in September and 3arch eery year on the monthly
product of minimum balance maintained in the account bet(een 1*
th
and last day of
each month.
4. /ayment of %nstalment
'he account holder may deposit instalment according to his conenience and the
amount of deposit standing in the account on or before 1*
th
of eery month is to be
considered eligible for calculating interest for the month. %nstalment paid during the
course of calendar month for (hich it is due shall be deemed as payment made in time.
5. 6pening of Account
i7 An applicant (ill be re8uired to fill in the usual $ecurring Deposit Account
6pening Form of the 0an1.
ii7 At the time of opening the account Nomination Form incorporated in the
Account 6pening Form itself is to be filled up.
iii7Deposits (ill be made through our $ecurring Deposit A+c. /ay,in,Slip.
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9. Accounting /rocedure
i7 'here (ill be no separate head in the :eneral ;edger and it is to be sho(n
under <$ecurring Deposit= head in the :eneral ;edger.
ii7 For operational conenience separate ledger for Fixed 3onthly %nstalment
$ecurring Deposit Scheme and United Flexi Deposit Scheme should be
3aintained at the 0ranches.
1*. /ass 0oo1
An account holder of United Flexi Deposit Scheme- shall be supplied (ith /ass 0oo1.
$ecurring Deposit /ass 0oo1s (hich are in use in our 0an1 may be utilised for this
purpose. $D /ass 0oo1 shall be mar1ed (ith the name <United Flexi Deposit
Scheme=. %f the /ass 0oo1 is lost or other(ise damaged- a duplicate /ass 0oo1 may be
issued to a depositor (ith payment of usual charges and complying the usual
formalities.
11. /remature >losure
/remature closure may be allo(ed to the depositor as per existing norms for premature
(ithdra(als of term deposits and as amended from time to time.
12. 'ransfer of A+c.
United Flexi Deposit Account can be transferred free of charge from one office of the
0an1 to another office at the (ritten re8uest of the depositor. ?hile transferring the
account the transferring branch should ensure that interest+product on the account has
been applied+calculated upto and including the month of transfer.
1#. /roisions
3onthly proision for interest may be made as per rules applicable to term deposit from
time to time.
1.. Forms @ Stationery
Existing $ecurring Deposit A+c. 6pening Form- $D /ay,in,slip and $D ;oose ;eaf
;edger (ill be used for the scheme till such time as the ne( forms and stationery are
introduced.
1). 0alancing
'he United Flexi Deposit Scheme A+cs are to be balanced compulsorily once in eery
month.
2 + .
12. 6ther >onditions
i7 Nomination facility should be extended to the depositors under the scheme as per
$0% guidelines and Nomination $ules.
ii7 ;oan against deposit may be allo(ed to the depositor as per preailing rules as
applicable for loan against existing term deposit account as amended from time to time.
iii7 /rocedure laid do(n for opening of account in case of illiterate- blind and minor
depositors is to be follo(ed in accordance (ith the preailing rules of the 0an1 and as
amended from time to time.
i7 'he scheme is not applicable to Non,$esident %ndians AN$%7.
7 'he scheme is applicable to the members of staff also.
i7 All other terms and conditions (ill be as per guidelines and directies of $0% and
as amended from time to time.
Operational Guidelines:
Scheme: United Flexi Deposit Scheme
1. United Flexi Deposit account can be opened under the f Scheme >odesB CRDFDSD
E3enu F C6AA>D for opening follo(ed by C6AA>AUD for erificationG
'he follo(ing options should be mandatory isited F :eneral Account Details A:7 +
/eriod Details AH7 +Scheme Details AS7.
2. Under :eneral Details- 'he C%nterest $ate codeD field should be filled,in (ith the
follo(ing code.
%f the rate of interest payable in the account is ).**I , %nt. 'able code is C'*)**D
Similarly- for other rate of interest- the code (ill be F ' follo(ed by the interest rate.
e.g. %nterest $ate F ).4)I %nt. 'able >ode is F C'*)4)D
#. %nt. >r. A+c Flag F CSD- Next %nt. >alc Date A>r.7 F June#* + Dec#1 under option F C:D
.. Under CHD option- Apress F. t(ice7- put the period of deposit and core amount to be
deposited.
). /AN should be 8uoted for cash deposit of $s.)**** and aboe.
2. 0ranch should ensure that the amount deposited in a month is not more than ten times
the core amount.
4. Deposit of installment is through C'3D 3enu. ANo additional details are re8uired to be
entered7.
5. %f any (rong credit is made in any account- it should be reersed through 0an1 induced
transaction only by passing appropriate oucher.
9. 6n maturity of any account- run the menu F C$DA>%N'D for payment of interest upto
maturity. ?hile running $DA>%N'- 1eep the follo(ing fields blan1 F C/re 3ature FlgD
and CAccountD.
1*. After running $DA>%N'- run menu F C:;K'$D to transfer the matured accounts to
3atured United Flexi Deposit :; Subhead. $DA>%N' and :;K'$ are to be run by
the branch periodically Amay be (ee1ly7.
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11. >losure of Account F 3enu F C>AA>D for closure follo(ed by C>AA>AUD for
erification.
12. 0efore closing of account- it should be ensured that F
a. Account is not froLen F erify through 3enu F CA>3D A:eneral Details , 2
nd
screen7
b. 'here is no transaction pending for erification in the account F erify through
3enu F CF'%D (ith A+c %D field filled (ith the account to be closed
c. 'here is no unclear balance aailable in the account F erify through 3enu F
CA>;%D F Field F CFunds in clgD is Lero
d. >lose through menu C>AA>Das follo(s FFunction F CHD and put the Account
Number and press F..
1#. For pre,mature closure of an account- first modify the interest table code through menu
F C%N''3D and attachM the appropriate interest table code Athe rate of interest payable
for premature closure7. 'hen run 3enu C$DA>%N'D (ith the field C/re 3ature flgD as
CND and CAccountD field filled (ith the account number to be closed premature- and if
any exception is encountered- oerride it if the interest table has already been modified.
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