Union Bank of India

Features and Benefits of Union Bank of India

Union Bank of India is a public sector bank in India with a wide range of products and services. Some of the key features and benefits of Union Bank of India include:

• Wide network of branches and ATMs: Union Bank of India has a vast network of branches and ATMs across India, which makes it convenient for customers to access their accounts.
• Online banking and mobile banking: Union Bank of India offers online banking and mobile banking services, which allow customers to manage their accounts 24×7 from anywhere in the world.
• Easy loan approvals: Union Bank of India is known for its easy loan approvals, which makes it a good option for customers who need financial assistance.
• High-interest rates on savings accounts: Union Bank of India offers high-interest rates on savings accounts, which can help customers earn more on their deposits.
• Free ATM transactions: Union Bank of India offers free ATM transactions to its customers, which can save them money.
• Rewards and discounts: Union Bank of India offers a variety of rewards and discounts to its customers, such as cashback on purchases, discounts on travel, and free movie tickets.

Union Bank of India Overview

Union Bank of India, established in 1919 and headquartered in Mumbai, is a prominent public sector bank in the Indian financial landscape. With a history of serving customers for over a century, the bank offers a comprehensive range of financial services that encompass retail and corporate banking, treasury operations, and more.

Notably, the bank underwent a merger in 2020, contributing to its evolution as a substantial player in the sector. As a government-owned institution, Union Bank of India continues to uphold its commitment to providing accessible banking services while embracing technological advancements to enhance customer experiences.

Services and Products Offered by Union Bank of India

• Savings bank deposit: This is a basic type of bank account that offers a low-interest rate and no monthly charges. It is a good option for people who want to save money for short-term goals, such as an emergency fund or a down payment on a house.
• Current deposit products: These accounts are designed for businesses and offer a higher interest rate than savings accounts. They also have a higher monthly fee, but this is usually offset by the convenience of having a checking account that can be used to make payments and deposits.
• Term deposit products: These accounts offer a higher interest rate than savings accounts, but your money is locked in for a fixed period of time. This makes them a good option for people who want to save money for a long-term goal, such as retirement or a child’s education.
• Gold monetisation scheme: This scheme allows you to deposit your gold with Union Bank of India and earn interest on it. You can also use your gold as collateral for a loan.
• Union Dial: This is a 24/7 customer service hotline that can help you with a variety of banking needs, such as account balance inquiries, fund transfers, and bill payments.
• Loans: Union Bank of India offers a variety of loans, including personal loans, home loans, car loans, and business loans.
• Wealth management insurance: Union Bank of India offers a variety of wealth management products, including mutual funds, insurance, and demat accounts.
• Mutual funds: Union Bank of India offers a variety of mutual funds, which are a type of investment that allows you to pool your money with other investors and invest in a variety of companies.
• DEMAT accounts: A demat account is a type of account that allows you to hold your shares and securities in electronic form. This makes it easier to buy and sell shares, and it also eliminates the risk of losing your physical share certificates.
• Government schemes: Union Bank of India offers a variety of government schemes, such as the Pradhan Mantri Jan Dhan Yojana and the Sukanya Samriddhi Yojana. These schemes offer tax benefits and other incentives to help people save money for their future.
• Positive Pay System: This security feature allows you to verify large payments before they are processed. This helps to protect you from fraud.
• Lockers: Union Bank of India offers a variety of lockers that you can rent to store your valuables. This is a secure way to store jewellery, documents, and other important items.
• Loan Syndication And Debt Structuring: Union Bank of India offers loan syndication and debt structuring services to businesses. This can help businesses to get the financing they need to grow and expand.
• NRI services: Union Bank of India offers a variety of services to NRIs, such as foreign currency accounts, remittances, and investment products.
• Remittances: Union Bank of India offers a variety of remittance services that allow you to send money to friends and family overseas

Union Bank of India Corporate office Details with Contact numbers and Email ID

The corporate office of Union Bank of India is located at:

Union Bank Bhavan, 239, Vidhan Bhavan Marg, Nariman Point, Mumbai – 400 021, Maharashtra, India

They offer toll-free contact numbers for customer assistance: 1800 22 22 44 and 1800 208 2244. Additionally, customers can reach them at the charged number 080-25300175. If you’re an NRI, there’s a dedicated number available: +918025302510.