Union Bank of India

Union Bank of India was incorporated in 1920 and it functions in the form of a public sector bank. The Government of India is the major shareholder of the bank. The bank is one of the leading nationalized banks of the country. The bank uses all the latest technologies to provide better services to the customers. It is one of the pioneers in the country to use technological solutions to enhance the quality of the banking services. Union Bank of India provides a number of services to the customers like personal banking, corporate banking, NRI banking, internet banking, ATM facilities and many more. About 26,000 employees and about 950 branches of the bank are always there to provide services to the customers. The bank is managed by a board of directors and presently, Shri.M.V. Nair is the chairman and managing director of the bank. Products and Services of Union Bank of India

The bank has designed a number of loan products for the customers. These products are provided under the following heads:

Personal Banking
NRI Banking
Internet Banking
Corporate Banking
The personal banking services of Union Bank of India provides several products like savings and deposits, debit and credit cards, retail loans, insurance and investment products and many more. The savings and deposit schemes consist of the following products:

Union Multigains Current Account
Union Honey Bee Scheme
Union Flexi Deposit
Union Monthly Income Scheme
Union Insured Recurring Deposit Scheme
Union Cumulative Deposit Scheme
Union Float
Union Multicity Cheque
Union Multigains Savings Account
Union Deposit Reinvestment Certificate Scheme
The insurance and investment products of Union Bank of India are the following:

Mutual Fund
Union Gold
Life Insurance
Union Health Care – Group Mediclaim Floater Policy
The retail loan products of Union Bank of India provide financial assistance for a number of purposes. Some of these loans are as follows:

Union Mortgage
Union Education
Union Top-up
Union Trade
Union Comfort
Union Miles
Union Cash
Union Home
Union Rent Scheme
Union Health
Union Shares
Union Smile
Union Education Scheme
Special Education Loan Scheme
The corporate banking services of Union Bank of India offer a number of customized products to the corporate sector. Financial assistance provided by the bank plays a major role in the development of the business sector of the country. Services like e-tax, trade finance, insurance and CMS are very helpful for the corporate sector. Some other services that are provided by the bank for this purpose are the following:

Loan Syndication
Cash Management
Union Pride
Union Supply
Multi-city Cheques
The NRI services offered by Union Bank of India provides a number of products for all those Indians who are residing outside India. Some of the products are as follows:

International Debit Card
International Credit Card
Savings Programs
Home Loans
Contact Details: Head Office
Union Bank of India
239 Vidhan Bhavan Marg,
Central Office,
Nariman Point,
Mumbai – 400021
Phone: (022) 22892000

 

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Last Updated on : 27th June 2013

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