Union Bank of India

History Union Bank of India (UBI) was registered on 11 November 1919 as a limited company

in Mumbai and was inaugurated by Mahatma Gandhi. At the time of India's Independence in

1947, UBI only had four branches - three in Mumbai and one in Saurashtra, all concentrated in

key trade centres. After Independence UBI accelerated its growth and by the time the

government nationalized it in 1969, it had grown to 240 branches in 28 states. Shortly after

nationalization, UBI merged in Belgaum Bank, a private sector bank established in 1930 that

had itself merged in a bank in 1964, the Shri Jadeya Shankarling Bank. Then in 1985 UBI

merged in Miraj State Bank, which had been established in 1929. In 1999 the Reserve Bank of

India requested that UBI acquire Sikkim Bank in a rescue after extensive irregularities had

been discovered at the non-scheduled bank. Sikkim Bank had eight branches located in the

North-east, which was attractive to UBI.

UBI began its international expansion in 2007 with the opening of representative offices

in Abu Dhabi, United Arab Emirates, and Shanghai, Peoples Republic of China. The next year,

UBI established a branch in Hong Kong, its first branch outside India. In 2009, UBI opened a

representative office in Sydney, Australia.

At present, the offshore banking operations of Union Bank of India are led by its

branches in Hong Kong and newly opened branch in Dubai at Dubai International Financial

Centre.

Union Bank of India (UBI) is one of the largest public sector banks of India (the

government owns 55.43% of its share capital remains public, private organizations and foreign

companies), is listed on the Forbes 2000. It has assets of USD 13.45 billion and all the bank's

branches have been networked with its 4129 ATMs. Its online Telebanking facility is available to

all its Core Banking Customers - individual as well as corporate. It has representative offices

in Abu Dhabi, United Arab Emirates, Beijing, Peoples Republic of China, London, Shanghai,

and Sydney, and a branch in Hong Kong.

The bank is in the process of upgrading its representative offices in London and Sydney to

branches. It also is working on establishing branches in Dubai (in the Dubai International

Financial Centre), and in Antwerp.

UBI is active in promoting financial inclusion policy and is a member of the Alliance for Financial

Inclusion (AFI).

Type Public company (BSE: 532477)

Industry Financial services

Headquarters Mumbai, India

Key people Mr. Arun Tiwari

(Chairman & MD)

Revenue 211.44 billion (US$3.4 billion) (2012)[1]

Net income 17.87 billion (US$290 million) (2012)

Employees 27,746 (2011)

Website www.unionbankofindia.co.in

1. SAVING ACCOUNT :-

ELIGIBILITY: Any Resident Individual - Single Accounts, Two or more individuals in Joint Accounts, Illiterate Persons, Visually Impaired persons, Purdanasheen Ladies, Minors, Associations, Clubs, Societies, etc. Trusts, Institutions/Agencies specifically permitted by the RBI

SALIENT FEATURES :

Simplest deposit option available to the depositor.

An ideal option to cultivate the habit of banking and saving amongst the younger generation.

Easy to operate. Terms and conditions kept lucid to facilitate a layman's understanding

No hidden costs

Zero balance facility. A Student can open Regular Saving Account with zero balance

Deposits are insured by DICGC

Interest @ 4% p.a, are being calculated on daily product basis from 01.04.2010 and will be

credited twice in a year in Feb and August or at the time of closing the A/c

Any Where / Any Time Banking of your Choice as follows:

Branch Banking

ATM Banking

Net Banking

Phone Banking

Provision for nomination

3. FIXED DEPOSIT ACCOUNT :-

ELIGIBILITY

Any Resident Individual - Single Accounts, Two or more individuals in Joint Accounts, Illiterate Persons, Blind persons, Purdanasheen Ladies, Minors, Associations, Clubs, Societies, etc. Trusts, Institutions/Agencies specifically permitted by the RBI eligible to open a ""Fixed Deposit Receipt" Account" in single/joint name/s.

2. FIXED DEPOSIT ACCOUNT :-

ELIGIBILITY

Any Resident Individual - Single Accounts, Two or more individuals in Joint Accounts, Illiterate Persons, Blind persons, Purdanasheen Ladies, Minors, Associations, Clubs, Societies, etc. Trusts, Institutions/Agencies specifically permitted by the RBI eligible to open a ""Fixed Deposit Receipt" Account" in single/joint name/s. Minimum amount:- Rs.10,000/- for FDR in Metro and Urban Branches and Rs.5,000/- in Rural and Semi urban branches, and for senior citizens the minimum amount will be Rs. 5000/- Minimum Amount criteria will not be applicable to Subsidy kept under GOVT Sponsored Schemes, Margin Money, earnest money and court attached/ordered deposits Payment of Interest: (Subject to applicable TDS) Interest will be paid on quarterly basis and in case the date of interest payment falls on holidays then on the next working day

Provision for nomination.:- Nomination facilities are available Rate of Interest :- Rate of interest differs from depending upon tenure of the deposits and as and when the Bank changes the Rate. Senior citizens are offered additional interest of 0.50 % for deposits placed for 1 year and above period.

Minimum amount:-

Rs.10,000/- for FDR in Metro and Urban Branches and Rs.5,000/- in Rural and Semi urban branches, and for senior citizens the minimum amount will be Rs. 5000/- Minimum Amount criteria will not be applicable to Subsidy kept under GOVT Sponsored Schemes, Margin Money, earnest money and court attached/ordered deposits

Provision for nomination.:- Nomination facilities are available

Rate of Interest :- Rate of interest differs from depending upon tenure of the deposits and as and when the Bank changes the Rate.

Senior citizens are offered additional interest of 0.50 % for deposits placed for 1 year and above period.

4. RECURRING DEPOSIT ACCOUNT :-

ELIGIBILTY

Any Resident Individual - Single Accounts, Two or more individuals in Joint Accounts, Illiterate Persons,

visually impaired persons, Purdanasheen Ladies, Minors, Associations, Clubs, Societies, etc. Trusts,

Institutions/Agencies specifically permitted by the RBI eligible to open a "Cumulative Account" in

single/joint name/s.

SALIENT FEATURES :-

Monthly installments can be for any amount starting from as low as Rs.50/- onwards

An account can be opened for any period ranging from 6 months to 120 months, in intervals of 3

months

Interest at the permissible rate is compounded every quarter

Bank Together, Gain Together.Yes at Union Bank of India,banking together has become even more rewarding. Presenting, the Union Bank’s Family Saving Scheme which is especially designed to meet all the banking requirements of your family members under one roof. What you need to do is to open the accounts of all the family members & link them together as a group, to enjoy the flexibility of balance maintenance. The free facilities are based on the collective balance maintained by the family as a whole. Thus, all your family members become eligible to enjoy the privileges. Features & Benefits:

1. Minimum 2 & maximum 6 family members (accounts) can form a group under this scheme. Customers having multiple SB accounts with us can also club all his/her accounts under this scheme along with other family member/s.

2. Family members include Grand Parents, Father, Mother, Spouse, Brother, Sister, Son, Daughter.

3. The group as a whole will have to maintain Average Quaterely Balance (AQB) of Rs.1 lakh in SB accounts OR Rs.10 lakhs in the Term Deposit accounts in order to avail the benefits. However, for new accounts opened & grouped under this scheme, the combined SB balance has been kept at Rs.50,000.

4. Free facilities starts from day One. The Facilities can be enjoyed by any member (account) of the family in the group.

5. Clubbing the accounts belonging to the family members is for the purpose of identification of the group and for arriving at the average quarterly balance only.The individual accounts will be operated strictly as per the mandate submitted by the individual customer/joint holder (necessarily a family member).Secrecy and confidentiality of the individual accounts will not be compromised in any case.

Features Facilities

A) Cheque Book & Remittances

Free Personalized Multicity Cheque Books Per Year

2 Books per account

NEFT/RTGS Unlimited Free

Free Demand Draft/ Pay Order Up to Rs.20,000 Per Account Per Month

B) International Debit cum ATM Card Facility

ATM cum Debit Card Free, No issuance Charge.

ATM Withdrawal Rs.25,000 Per Day

Shopping Limit -POS Rs.25,000 Per Day

Combined Limit(ATM+POS) Rs.50,000 Per Day

No Annual Maintenance Charges For Debit Cards

Internet Banking (Fund Transfer+ Bill Payments) Free

Pass Book/ Account Statement Free

C) Add On Facilities

SMS Alerts Free

PURPOSE

Purchase/ construction of house/ flat

Purchase of plot and construction of house thereon**

Repairs/ improvements/ extension of the existing residential property..

ELIGIBILITY

Indian citizen above 21 years

Individual, either singly or jointly with other family members viz. father, mother, son and/or spouse, who have regular sources of income as co-applicants.

QUANTUM OF LOAN

Loan Up to Rs. 3 Crores for A Class cities & Rs. 1 Crore for other cities

Maximum Rs. 10 Lakhs for Repairs.

MARGIN

20% of the total cost of the purchase/ construction of house/ flat

20% of total cost of the repairs

REPAYMENT

In E.M.I.s

Repayment period of up to 25 years; 10 years in case of repairs

Any methods of repayment

PURPOSE

In life we face circumstances where we cannot avoid few expenses. And these include personal

expenditure of varied needs like marriage, higher education, medical emergencies, business travel or

any unforeseen expenses. Union Mortgage is the solution for such needs; you can avail Loan against

property and meet such expenditure.

QUANTUM OF LOAN

Metro/Urban : Min Rs. 1 Lacs & Max Rs. 250 Lacs

Semi Urban : Min Rs. 1 Lacs & Max Rs. 25 Lacs

NATURE OF FACILITY

For salaried people, term loan facility is available.

For non-salaried people, term loan and secured overdraft facilities are available.

REPAYMENT

Maximum repayment in 84 EMIs ; Applicant has to repay the loan through EMIs

Subject to closure of the loan with full adjustment prior to retirement in case of salaries class

PURPOSE Now you can fulfill your dreams of owing a vehicle by availing Union Miles. You can avail this special scheme to purchase of new or old (up to 3 years) four-wheeler, and you can also avail this loan to purchase a new two-wheeler. ELIGIBILITY A person has to meet the following criteria to avail the loan:

Indian citizen aged 18 years and above holding valid license

Individual, either singly or jointly with spouse

QUANTUM OF LOAN

Maximum quantum of loan

New 4-wheeler Rs. 40 Lakh

Old 4-wheelers (not older than 3 years) Rs. 10 Lakh

New 2-wheeler Rs. 1 Lakh

MARGIN

15 % of on-road price (Vehicle Cost + Registration Charges + Insurance + Road Tax)

REPAYMENT

Repayment period Maximum repayment tenure

New 4-wheeler 60 EMIs

New 2-wheeler 36 EMIs

ELIGIBILITY

Should have passed the qualifying exams & secured admission to relevant recognized course

VALUE ADDED SERVICES

Facility of online application

Simple Interest During Study Period

1% concession in interest while repaying the amount

For studies in India - maximum upto Rs. 10 Lakhs.

For studies outside India- maximum Up to Rs. 20 Lakhs

MARGIN, I.E. YOUR SHARE

5% for studies in India

15% for studies outside India

1. Union Bill Pay

Union bill pay is the easiest way to make your bill payment at your doorstep.

2. NEFT

National Electronic Funds Transfer (NEFT) NEFT is electronic funds transfer system, which

facilitates transfer of funds to other bank accounts in over 63000 bank branches across the

country.

3. RTGS

Real Time Gross Settlement [RTGS], introduced by us as Union Bullet, is the fastest possible mode of money transfer through bank channels available in India. It's a fund transfer mechanism where transfer of money takes place from one bank to another in real time

4. Credit Card Bill Payment

Union bank of india offers easy credit card bill payment.

5. Online Tax Payments

Union eTax payment platform is the simplest way to make your tax payments. It enables you to

make direct and indirect tax payments at your doorstep.

6. Donations

With Union Bank of India we can easily donate our fund online to various trust.

7. E- Ticketing

With Union Bank of India we can easily book our tickets online e.g. Railway Tickets , Air

line Tickets , Bus Tickets Etc.

1. ATMS

2. Talking ATMS

3. Remittance @ ATMS

4. Internet Banking

5. Mobile Banking

6. SMS Banking

7. Kisan ATM

1. Debit Card

2. Credit Card

3. Gift Cards

4. Payroll Cards

A corporate agency tie-up with Star Union Dia-ichi Life Insurance Co. Ltd (SUD Life), a Life

Insurance Joint Venture of Bank of India, Union Bank of India & Dia-ichi Mutual Life Insurance Co. Japan

has launched a wide range of life insurance products catering to the needs of different Customer Groups.

This venture distributes the following products of the SUD Life Insurance Company:

This is a Unit Linked Endowment insurance plan which provides Death benefit when death occurs within the term of the policy, maturity benefit if the policy holder survives the term of the policy. This policy comes with 2 riders which provide cover against accidental death or permanent disability and cover against critical diseases. The premium (after recovering allocation charges, insurance premium etc.), which is the net investment amount will be invested in 4 available fund types viz. equity, bond fund, debt fund, as per choice of the customers

The Plan is useful for creating wealth by way of regular savings (yearly/half-yearly/quarterly/monthly) for a longer period i.e. 10 to 20 years with life cover by way of insurance. Minimum term of the plan is 5 years and maximum 40 years

Benefits :-

On maturity the accumulated funds will be paid to the policy holder;

In the event of any untoward incident to the life of the policy holder the accumulated funds in his policy account or sum assured whichever higher will be payable to nominee

Jeevan Safar is a unique combination of traditional endowment and whole life plans, which provides death benefit and also survival benefit to the policy holders. A combination of savings & insurance schemes.

It is available for people between 18 to 70 years of age with the minimum coverage of Rs 50,000 and no limit on the maximum coverage.

On maturity, sum assured with accrued bonus & loyalty addition will be payable to the policyholder. Thereafter, the risk cover will continue up to the age of 99 years. In case of any untoward incident to the life of the policy holder (after maturity), the sum assured will be payable to the nominee.

It provides an option to attach Accidental Death & Total and Permanent Disability Benefit rider as well as Critical Illness Benefit ride.

It also offers Grace Period option and Reinstatement option to the policyholders.

Income tax benefits are available on this plan as per the current income tax laws

Shiksha Suraksha is a group life insurance term plan which caters to the needs of education loan borrowers. It provides insurance cover to people between 16-59 years of age who have taken education loans from the Bank. The coverage tenure under this plan can be minimum 1 year and maximum of 15 years. Coverage under the plan ceases on expiry of the term of loan or borrowers attaining 61st birthday. Salient Features

Life cover for the entire period of the loan equivalent to the outstanding loan amount

Single premium for the entire duration of the loan

Hassle-free joining process.

Service Tax as applicable will be charged extra @ 10.30% at present. Premium payable determined based on Loan Amount, Term of repayment and age of the borrower

Insurance premium paid is eligible for tax rebate under section 80 C of Income Tax act with a overall ceiling of Rs.1,00,000/-

UBI along with NIACL provides a wide range of products in commercial/industrial as well as personal line of insurance to facilitate various options for different customer groups to fulfill their requirements. Bank distributes commercial/ industrial policies covering:

Stock in Trade

Plant and Machinery

Goods in Transit

Buildings

Office equipment

Milch Animals

Agriculture Machinery & Implements, etc.

In addition to the above list, Bank also distributes personal line of products such as:

House holders policy

Medi-Claim Policy

Personal Accident Policy

Motor Policy

With Religare Health Insurance plan's comprehensive coverage, speedy claim settlements and much more, you can be rest assured you will be worry-free 'hamesha' and get industry's best features. How we make a Sensible buy for you – ‘Care’ - Health Insurance Policy has unique features like -

Cashless treatment at 2800+ hospitals & Daily allowance.

Auto recharge of your policy Sum Insured, if exhausted.

Get health check-ups for insured members, every year.

Avail treatment anywhere in the world.

No Claim-based loading & No maximum-entry age limit.

Largest list of day care surgeries covered.

No paperwork reqd. Buy & get policy online.

Mediclaim Insurance

Mediclaim Insurance Product in tie-up with The New India Assurance Co Ltd,which will provide the insurance cover. Scheme available for Union Bank Customers, irrespective of the fact whether they are maintaining SB/CD/Deposit Account or having Demat, Borrower Account, Debit Card and Credit Card. Group Floater Insurance for a family of maximum four persons (Customer, his/her spouse and two dependent children) Entry up to 65 years of age and it can be renewed up to the age of 80 years. Sum Assured is offered in the range of Rs.50,000/- to Rs.5,00,000/- per family, as per the Insured’s desire. Very competitive premium due to group-floater nature of the product. Premium paid under this policy will be eligible for deduction under section 80D of Income Tax Act.