Union Bank of India is one of the largest government-owned banks of India (the government owns 63.44% of its share capital

The bank had 4196 branches in India as on 31 March 2016 and to add to it 4 overseas branches. Shri Arun Jaitley, Honorable Minister for Finance, Government of India on 30 March 2016 inaugurated the Sydney branch.

UBI is active in promoting financial inclusion policy and is a member of the Alliance for Financial Inclusion (AFI).

Bench Prime Lending Rate [BPLR] of this Bank as given on 01/03/2016: 14.25%

Base Rate: 9.65% .


Marginal Cost of Funds Based Lending Rate (MCLR) With Effect From 1st May 2016

TENOR MCLR (%)

Overnight MCLR 9.25%

One month MCLR 9.30%

Three month MCLR 9.35%

Six month MCLR 9.45%

One year MCLR 9.50%

Two year MCLR 9.55%

Three year MCLR 9.60%


Services and products consist of this Bank:

Personal Banking

-Accounts & Deposits – cumulative deposit scheme, deposit reinvestment certificate, monthly income scheme, union flexi-deposit, senior citizens scheme, multi gain savings account, no frills saving account, union super salary account, union classic current account

-Retail Loans – union cash, union home, union health, union miles, union education, union top up, EMI calculator, union smile

-Cards - Classic / Silver / Gold, Corporate Credit Cards, Add-On Cards

-Insurance & Investment – mutual fund, union healthcare

-Demat – demat accounts, online share trading

-Payment


NRI Banking

-Remittance - Union E-Remit, Nostro Details for Remittance

-Savings & Deposits - NRO Non Resident Ordinary A/c Scheme, NRE Non Resident External Rupee, RFC, FCNR(B), Union Unfixed, Foreign Currency Deposit
-Loan & Services – house loans, foreign currency loans, loans against deposit, immovable property, and shares or debenture

-Payments - Union Bill Pay


Corporate Banking

-CMS - Union Speed, Union Centralized Debits/Credits, Union Prompt

-E-Tax - Customs and Direct taxes, DGFT, Central Excise and Service Tax

-Trade Finance – trade finance for exporters, trade finance for importers, foreign currency loans, correspondent banking

-Insurance - Non life Insurance – Corporate Agency, Insurance- Corporate Agency

-Syndication of Loans

-MSME Banking

-Loans & Policies


Internet Banking

-Account Information

-Transfer of Funds

-Bills

-Requests

-Mails

-Trade

-Limits

-Currency

-Uploads

-Customization

-Financial enquiries

-Non Financial enquiries