The borrowers can hedge their Gold exposures by booking forward contracts with the Bank, which will take care of their price risk.
* This forward contract can be booked for a maximum period of 180 days or date of repayment of the loan whichever is earlier in terms of RBI guidelines.
GOLD CARD SCHEME
Union Bank of India provides Gold Card to Exporters under Gold Card Scheme with attractive
Gold card holders will be given better terms of credit ,depending on their track record and credit worthiness in comparison to other exporters.
In-principle approval will be given for a period of 3 years.
There will be provision for step up or step down of limit each year based on achievement or otherwise of the provisions. Concession of 0.25% can be considered in pre and post-shipment credit facility. 25% concession in ECIP (WT-PC) premium. 10% concession in processing charges
Union Flash/Union Click
Union Bank of India provides Union Flash/Union Click for NRI customers and is the fastest remittance product for individuals; where in the beneficiary account is credited on real time basis without any manual intervention when the remittance is sent from selected exchange houses like UAE Exchange, Lulu Exchange, Al Ahalia Exchange, Al Ansari Exchange etc. There is no limit for minimum and maximum amount.