''Union Double'' offers double the investment

Thiruvananthapuram, June 30 (UNI) ''Union Double,'' a new deposit scheme of the Union Bank of India, which offers depositor to double the investment during a certain period was launched here today.

Launching the scheme, Bank Assistant General Manager K R Pillai said the depositor could double the investment in a period of eight years and nine months.

For senior citizens, who invested in the scheme, the period would be eight years and three months, he informed.

While the rate of interest offered was eight per cent per annum, an additional rate of 0.50 per cent would be offered over the interest of eight percent to senior citizens. The deposit scheme was available for a limited period till July 31.

The ''Union Double'' scheme was expected to meet the aspirations of various segments of customers such as farmers, housewives, salaried employees and professionals, he added.

UNI PN ROY 1612