Our Genesis
Union Bank of India was established on 11th November 1919 with its headquarters in Mumbai. It was promoted by Seth Sitaram Poddar. The Head Office building of the Bank in Mumbai was inaugurated by Mahatma Gandhi, the Father of the Nation in the year 1921, and he said on the occasion:
His prescient words predicted the growth of the Bank that has taken place in the decades that followed.
Services & Solutions
The bank offers savings and current accounts; term and recurring deposits; and demat and online trading accounts. It also provides retail loans, including home, vehicle, education, and personal loans; loans against the property; and loans for pensioners, as well as products and loans for micro, small, and medium enterprises. In addition, the company offers mutual funds, life, non-life, health, and general insurance products, and tax saving deposits; government saving schemes, tax collection services, pension products, and departmentalized ministries accounts; short term, long term, and other credit for agricultural/ssi/ tertiary sectors; and safe deposit locker and cheque collection services.
Furthermore, the bank provides corporate loans comprising covid emergency line of credit, trade finance, working capital, lines of credit, project financing, and channel finance; debt structuring/ restructuring, loan syndication, structured finance, mergers and acquisition advisory, and private equity services; cash management, ecgc cover, and foreign exchange services, as well as derivatives; export and import finance services; nri banking services; and treasury and other products, and remittance services. Additionally, the company offers app, internet, self-service, atm, and sms banking services; point of sale terminals and immediate payment services; and combo, debit, credit, gift, prepaid, and payroll cards.