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United Bonanza Savings Schemes

A saving scheme which combines liquidity of Savings Bank and interest of Fixed Deposit Account. Under the scheme, a depositor will open a Savings Bank Deposit Account with an in-built arrangement of transferring balance over a specified limit to Fixed Deposit Account automatically for a specified period to be stipulated by the account holder and earn interest at Term Deposit rate. The details of the scheme are given below.


Anyone eligible to open Savings Bank Deposit Account of the Bank is eligible to open United Bonanza Savings Account either singly or jointly. Employees, Ex-employees, spouse of deceased employees of United Bank of India and senior citizens are also eligible to open account under this scheme.

  • Minimum Balance Required

    The minimum balance required is Rs. 10,000/-

  • Automatic Transfer of Fund to Fixed Deposit

    At the option of the depositor at the time of opening of the account, balance in United Bonanza Savings Account in excess of Rs. 10,000/- or any other higher limit as may be specified by the depositor shall automatically be converted into Fixed Deposit in multiple of Rs. 1,000/- without requiring the compliance of formalities for opening of Fixed Deposit Account for the purpose.

  • Period of Fixed Deposit

    Fixed Deposits under United Bonanza Savings Scheme shall be for any period ranging from six months to 1 year as may be specified by the account holder at the time of opening of the account. However, it is 6 months by default. The period shall remain fixed for all Fixed Deposits to be created from the United Bonanza Savings Account.
  • Procedure for Reverse Sweep

    If, at any point of time, in the process of operation of the United Bonanza Savings Account, the balance in the account falls below the minimum level of Rs. 10,000/-, then funds in multiple of Rs. 1,000/- shall automatically be transferred from Fixed Deposits to Bonanza Savings Account. The reverse sweep of Fixed Deposits shall be on last in first out basis. This will allow the depositor to earn interest uninterrupted on the remaining balance in Fixed Deposits under the scheme. The outstanding balance of Fixed Deposit held under the scheme shall be shown in United Bonanza Savings Account ledger suitably for operational convenience.
    There shall be a penal charge of 1% for premature closure and/or transfer of Fixed Deposit to United Bonanza Savings Account if the amount of Fixed Deposit so closed prematurely.

    Value addition

    1. Free cheque book
    2. One DD/PO will be issued freely per month upto Rs 5000/-
    3. Free ATM card (for 1st year only)
    4. Transfer of FD created under the scheme at free of charge

You have a wide range of choice of deposits through as many as 10 different schemes offered by UBI. You may select them according to your best suited mode of meeting.