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UNION BANK
OF
INDIA
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INTRODUCTION
Union Bank of India (UBI) is one of
India's largest state-owned banks (the
government owns 55.43% of its share
capital), is listed on the Forbes 2000. It has
assets of USD 13.45 billion and all the
bank's branches have been net worked with
its 1135 ATMs. Its online Telebanking
facility are available to all i ts Core
Banking Customers - individual as well ascorporate. It has representative offices in
Abu Dhabi, United Arab Emirates, and
Shanghai, Peoples Republic of China, and a
branch in Hong Kong.
Because of its acronym UBI , the public
sometimes confuses it with United Bank of
India.
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Union Bank of India was inaugurated by the
Father of the Nation, Mahatama Gandhi, on
November 11, 1919. Started as a limited
company in Mumbai, it was one of the few
Financial Commercial banks in India. Until
1947, UBI had only 4 branc hes - 3 in
Mumbai and 1 in Saurashtra, all
concentrated in key trade centres. Catering
to all the sectors of the society, be it
agriculture, industry, trade and commerce,
services or infrastructure, the bank has also
played a major role in rendering services to
the financial needs of every section. Apart
from this, the bank also extended financial
support to educational, housing and trade
sector.
Union Bank of India undertook the task o f
establishment of village knowledge centers
and self-employment training centers. It
was in 1975, that the Union Bank of Indi a
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was nationalized. It was, then, that it
merged with the Belgaum Bank, a private
sector bank. Another merger was on cards
in 1985, this time with the Miraj State
Bank. Union Bank is a Public Sector Unit
with 55.43% Share Capital held by the
Government of India. The Bank came out
with its Initial Public Offer (IPO) in
August 20, 2002 and Follow on Public
Offer in February 2006. Presently 44.57 %
of Share Capital is presently held by
institutions, individuals and others.
With the age of global banking, Union
Bank of India also changed its style,
boasting of urbani zed and computerized
core banking systems. A front runner
among public sector banks in modern-day banking, it h as all the facilities that a
modern bank should have - internet banking
and centrally computerized branches. UBI
was one of the pioneer public sector banks,
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which launched Core Banking Solution in
2002. As of September 2005, more than 670
branches/extension counters of Bank ar e
networked under Core Banking Solution.
The Bank has launched multiple Electronic
Delivery Channels and has installed nearly
423 networked ATMs.
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BRANCHES IN DELHI
City Branch Contact
DELHI PATEL NAGAR 26/2, East Patel
Nagar, New Delhi,
Pin - 110 008.
PAHAR GANJ 2/2, Desh Bandhu
Gupta Road, Pahar
Ganj, New Delhi, Pin
- 110 055.SUNDER
NAGAR
52, Sunder Nagar,
New Delhi, Pin - 110
003.
MALL ROAD -
NEW DELHI
B-5, Model Town 2,
Delhi, Pin - 110 009.
011 7115362 7425268
AZADPUR D-2, PanchwatiCommercial Centre,
Azadpur, New Delhi,
Pin - 110 033.
Anand Vihar,
Delhi
C-8, Anand Vihar,
New Delhi 110092
Maurya Enclave,
Delhi
Delhi
SSI OKHLA B-231, Okhla
Industrial Area, Phase
- I, New Delhi, Pin -
110 020.
KAROL BAGH 10184, Arya Samaj
Road, Karol Bagh,
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New Delhi, Pin - 110
005.
SAKET, DELHI J-292, SAKET, NEW
DELHIKIRTI NAGAR
NEW DELHI
37,DLF Industrial
Area,Kirti Nagar,
New Delhi-110015.
NEHRU PLACE 73-74, Sheetla House,
Nehru Place, New
Delhi, Pin - 110 019.
LODHICOLONY
F-5, New KhannaMarket, Lodhi
Colony, new Delhi,
Pin - 110 003.
KASHMERE
GATE
1366-68, Kashmere
Gate, Delhi, Pin - 110
006.
PASCHIM
VIHAR
Jwala Heddy
Shopping Complex,
Paschim Vihar, New
Delhi, Pin - 110 063.
LAJPAT
NAGAR
25, Feroze Gandhi
Road, Lajpat Nagar
Iii, New Delhi, Pin -
110 024.
Punjabi Bagh 38,Central Market,Punjabi Bagh (West)
New Delhi-110026
DELHI CANTT. Ii/111,112, Jain
Bhawan, Delhi Cantt.,
Pin - 110 010.
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CHAWRI
BAZAR
3581, Chawri Bazar,
Post Box No.1151,
New Delhi, Pin - 110
006.SOUTH
EXTENSION
D-43, Nd South
Extension Part I, New
Delhi, Pin - 110 049.
SOWCARPET 194, MINT STREET,
SOWCARPET,
CHENNAI-600003
ASAF ALIROAD
4/14-a, Asaf AliRoad, New Delhi, Pin
- 110 001.
OVERSEAS
BRANCH
26/28, Connaught
Place, New Delhi -
110 001.
IFB CP G-39, Connaught
Circus, New Delhi,
Pin - 110 001.
Janakpuri New
Delhi
C-15,Community
Centre, Janakpuri
New Delhi - 110058.
Pin - 110 048.
I.P. Extention 8- A, Madhuvihar, I.
P. Extension,
Delhi110092KAILASH
COLONY
H-532, Kailash
Colony Market, New
Delhi, Pin - 110 048.
S.B.SARAFA
MARKET
Post Box No. 1578,
S.b. Sarafa Market,
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Chandni Chowk, New
Delhi, Pin - 110 006.
Shankar Vihar 2-3 Shankar Vihar
Shopping Complex, New Delhi
EC at Kailash
Colony
H-532, Kailash
Colony Market,New
Delhi,Pin - 110 048.
CONNAUGHT
PLACE
14/15-f, Connaught
Place, New Delhi, Pin
± 110001.
UNION BANK OF INDIA BRANCH
WHERE I HAVE UNDERGONE TRAINING
PROVIDES FOLLOWING SERVICES:-
y Cash Receipt and withdrawal
y Loan
y Updation of Passbook
y Account Opening
y Demand Draft
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y Real Time Gross Settlement(RTGS)
y
Fixed Deposits
y Plastic money
y Tax
y Public Provident Fund
y Government Pension
y E-Banking
DETAILED COMMENTS ON THE
SERVICES
1. CASH RECEIPT AND WITHDRAWAL:-
A deposit account is a current account,
savings account, or other type of bank
account, at a banking institution that
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allows money to be deposited and
withdrawn by the account holder. These
transactions are recorded on the bank's
books, and the resulting balance is recorded
as a liability for the bank, and represents
the amount owed by the bank to the
customer. Some banks charge a fee for this
service, while others may pay the customer
interest on the funds deposited.
2. LOAN
UBI provides these types of loan:-
UNION HOME-A home is every one¶s
Dream. We make it true. Easy repayable
instalments. Value added services.
Minimum paper work.
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ELIGIBILITY
y Indian Citizen - 21 years and above.
y Either single account or joint account with other
family members viz.(father, mother, spouse or
son ) with regular source of inco me.
y Individuals who may be employed/self-employed
in business having regular inco me.
y A minimum of 40% marks as per investment
grade scoring chart(Internal method of the bank).
PUR POSE
y Purchase/construction of independent
house/flat.
y Repair/Improvement/Extension.
y Repayment of loan availed from another
agency/Bank/NBFC.
y For purchase/ construction of 2nd property
(independent house/flat)
y Plot sold by a Government-recognized agency
viz., HUDA, HOUSEFED and such others.
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QUANTUM
y Max Rs. 300 Lacs for Mumbai, Delhi, Kolkata,
Chennai, Bengaluru, Ahmedabad,Hyderabad,Gurgaon, Noida and New Delhi.
y For other cities Rs. 100 lacs
y Max. Rs. 10 lacs for repair.
MARGINy For loan up to Rs. 200 lacs, 20% of the cost o f
the property.
y For loan above Rs. 200 lacs, 35% of the cost
of the property.
R EPAYMENT
y Moratorium up to 18 months wherever loan is
taken for under construction flat or building.
y By Equated Monthly Installment (EMI.)
y The maximum repayment period should not
exceed 25 years (including moratorium) for
construction / purchase of house/ flat and 10
years for repair.
y Option of Flip/Step-up/Balloon methods of
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repayments for the convenience of the
borrowers
UNION EDUCATION:-
Give your children the higher education
they deserve. Give them chance to fulfil
their dream. Provide them the best
education with Union Education.
OBJECTIVE &
PUR POSE
The scheme aims at providing financial assistance
on reasonable terms to the poor and needy students
to undertake basic education and to meritorious
students that they may pursue higher or
professional or technical education.
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ELIGIBILITY
Student Eligibility
y Indian citizen
y Secured admission to the concerned institute in
India or abroad through an appropriate
selection process and cleared the qualifying
examination,if any
Courses Eligibility(Indicative List) :
a. Studies in India
y Graduation/Post-Graduation
y Professional courses
y Management courses
b. Studies Abroad :
y Graduation: For job-oriented professional or
technical courses offered by reputed
universities
y Post-Graduation: MCA, MBA, MS and such
other courses
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y Courses conducted by CIMA, London, CP A,
USA., and such other institution
EXPENSES CONSIDERD FOR LOAN
y Fee payable to Institute/Hostel.
y Examination/Library/Laboratory fees
y Purchase of
Books/Equipments/Instruments/Uniforms
y Caution Deposit,Building Fund/refundable
deposit supported by Institution
Bills/receipts,subject to the condition that the
amount does not exceed 10% of the total
tuition fees for the entire course.
y Travel Expenses/passage money for studies
abroad
y
Purchase of computers-essential for completionof the course
y Insurance premium for the student borrower
y Any other expense required to complete the
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course, such as, Study Tours,Project
Work,Thesis, etc.
QUANTUM OF LOAN
Need based finance subject to repaymen
capacity of the parent or student with margin
and up to following ceilings:-
For studies in India-up to Rs10 lacs
For studies in Abroad-up to Rs20 lacs
MARGIN
No margin for loans up to Rs4.00 lacs. However,
for loan of higher amounts, the margin requirement
is 5% for inland studies and 15% for studies
abroad.
Scholarship/assistance to be included in margin.
Margin may be brought in on pro-rata basis as and
when disbursement is made.
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REPAYMENT
Repayment holiday or moratorium on loan: course
period +1 year OR 6 months after job p lacement,
whichever is earlier.
Starting from then point, th e loan is to be repaid in
5-7 years after completion of course period/
moratorium.
3.UPDATION OF PASSBOOK
Book issued by a bank or savings institution to
record deposits, withdrawals, and interest earned in
a savings account.
A passbook or bankbook is a paper book used torecord bank transactions on a deposit account.
Depending on the country or the financial
institution, it can be of the dimensions of a
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chequebook or a passport.
Traditionally, a passbook is used for accounts with
a low transaction volume, such as a savings
account. The bank teller or post master writes, by
hand, the date and amount of the transaction, the
updated balance, and enter his or her initials. In the
late 20th century, small dot matrix or inkjet
printers were introduced to update the passbook at
the account holder's convenience, either at an
automated teller machine or a passbook printer,
either in a self-serve mode, by post, or in a b ranch.
SPECIMEN OF PASSBOOK:
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4. ACCOUNT OPENING
RATES AT A QUICK GLANCE
AS ON 01.01.2010
DEPOSIT ACCOUNTS
NATURE RATE OF INTEREST
MINIMUM BALANCE
(AQB)
NORMAL SENIOR
CITIZEN RURAL SEMI-URBAN
URBAN /
METRO
ACCOUNT
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1. Savings Bank A/c
A. Domestic
a.
With Cheque Bookfacility 3.50% 3.50% Rs.250 Rs.500 Rs.1000
b. Without cheque book
facility 3.50% 3.50% Rs.100 Rs.250 Rs.500
c. No Frills Account
North-eastern states
Other than north-eastern
states
3.50%
3.50%
3.50%
3.50%
NIL
Rs.25
NIL
Rs.25
NIL
Rs.25
a. NRO 3.50% 3.50%
b. NRE 3.50% 3.50%
DOCUMENTS REQUIRED AT THE TIME OF
ACCOUNT OPENING:
For
Individuals:
Passport
copy
Voter¶s id
card
Photo Credit
Card
Gas
Connection
Receipt
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Employer¶s
ID card
Driving
license
(laminated card
)
PAN card
Latest
Telephone Bill
Latest
Electricity Bill
Statement
from existing
bank
In addition, the following documents
are required:-
Proof of PAN / GIR No or Form 60
(In case of cash deposit)
Latest passport size photograph(2 copies)
5. DEMAND DRAFT
A method used by individuals to make
transfer payments from one bank account to
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another. Demand drafts are marketed as a
relatively secure method for cashing
checks. The major difference between
demand drafts and normal checks is that
demand drafts do not require a signature in
order to be cashed.
Demand drafts were originally designed to
benefit legiti mate telemarketers who
needed to withdraw funds from customer
checking accounts. However, the lack of a
signature required to authorize the trans fers
have left demand drafts open to fraudulent
use. The only information needed to cre ate
a demand draft is a bank account number
and a bank routing number - this
information is found on a standard chec k.
6. REAL TIME GROSS SETTLEMENMT
Real Time Gross Settlement is a funds
transfer mechanism where transfer of
money takes place from one bank to another
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on µreal time¶ and on µgross basis¶. This is
the fastest possible mode of money transfer
through bank channel µavailable in India.
Presently, there are over 45000 bank branch
enabled for remitting and receiving funds
through RTGS. RTGS is primarily for large
value remittances. The minimum amount to
be remitted through RTGS is Rs.1.00 Lakh.
The customer intending to remit money
through NEFT has to submit an application
with particulars of IFSC (Indian Financial
System Code) of the beneficiary
Bank/Branch, full account number and
name of the beneficiary.
Union Bank offers RTGS facility to its
customers through all i ts 2400+ branches.
The bank has completely waived service
charges on all RTGS remittances and as
such the facility is free to our customers.
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RTGS remittance service for customer
transactions is available from9.00 hours to
15.30 hours on weekdays and from 9.00
hours to 11.00 hours on Saturdays. Under
this facility money will be credited to the
beneficiary account instantly on µreal time¶
basis.
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7. PLASTIC MONEY
Credit Cards
Shop Shop Shop with Union Bank¶s International
Credit Card. And pay at your own sweet
convenience. It will bridge the gap between
wanting and having. Get it now and see your
tensions melt away. Union Bank in association with
VISA International offers Global credit card-
Union Card exclusively to its customers.
Types of credit cards:-
y Classic/silver/Gold
y Corporate card
Documents required:-
-Copy of PAN card(mandatory)\
-Salary slip/Certificate(latest)
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-Form 16
-IT Return(latest)
-Address proof
-Identity proof
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