Union Bank of India Business Loan [Interest Rate, Processing Fees, Tenure, Prepayment Charges 2022]



Union Bank of India Business Loan

About Union Bank of India : Union Bank of India has undertaken a lot of steps for digital banking, participated in government schemes, and offers NRI services and remittances. The bank supplies services in Banking, Insurance, and Pension to each member of every family in many villages by following the Branches and Branchless Banking Model.

Besides Urban Wards, the bank gives some services in non-SSA areas such as Metro, Urban, Semi-Urban, and Rural areas, as well as basic banking services by using Kiosks. 

Union Bank of India has come a long way since its founding in 1919 in Mumbai. From having only four branches- three in Mumbai and one in Saurashtra, today, it has four branches overseas in Dubai, Antwerp, Hong Kong, and Sydney.

It offers services in personal, corporate, and international loans. Under personal loans, you can get loans for agriculture, MSMEs, and retail. It also has rigorous schemes to foster financial inclusion in India, where many people still do not have access to finance due to a lot of socio-economic issues.

Headquarter: The headquarters of Union Bank is located in Union Bank Bhavan, 239, Vidhan Bhavan Marg, Nariman Point, Mumbai, Maharashtra, India.

Number of employees: According to the latest data available in FY 2021, the Union Bank of India has a maximum of 78,202 employees.

Number of Branches & ATM: With roughly 9500 branches, Union Bank of India became the sixth largest PSU bank in terms of branch network after it merged with Corporation Bank and Andhra Bank, which took effect on April 1, 2020. 

With approximately 120 million customers and 77000 staff, the bank has a vast network of 9300 domestic branches, 11800 ATMs, and 8216 Business Correspondent Points.

Rate of Interest : 9.5%- 14.8% Per Annum

Loan Amount : Up to Rs.25 Crore

Maximum Tenure : 10 Years

Processing Fee : NA

Prepayment Charges : NA

Yearly Business Income : As Per Loan amount Requirements

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