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Union Bank Case Study

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Union Bank of India is one of the largest banks in the country that have the gove4rnment shareholding. The government owns 63.44% share capital of the bank. The bank has more than 6,900 ATMs across the country and its online telecommunication service is readily available for the core customers. UBI also has four overseas branches in Hong Kong, Dubai, Antwerp, and Sydney. It has representative offices at Shanghai, Beijing, and Abu Dhabi as well. The bank offers a variety of financial products for its customers and personal loan is one of them.

Union Bank of India Personal Loan:
The personal loan offered by UBI is tailored for the individuals who are face troubles in meeting their specific personal expenses. Such expenses might be anything from …show more content…

Any person applying for the Union Bank personal loan has to be an existing customer of the bank. The applicant should not be less than 21 years and more than 58 years of age at the time of applying for the loan. The applicant has to be regular salaried employee for a sufficient amount of time as well. The bank considers the income of the applicant to determine the proposed quantum of loan for the individual. Applicants should also keep in mind that having multiple active loans lowers the chances of getting their application …show more content…

The personal loan scheme has some distinguished characteristics as well.

• Loan for Existing Home Borrowers: Union Bank of India provides personal loan to the borrowers who have an active home loan with the bank. This loan is sanctioned for the house construction or renovation related issues such as insurance premium payment, house interiors, etc. The loan amo0unt is sanctioned up to 5% of the house loan amount which cannot exceed the limit of Rs. 5 lakh.

• Loan for KVS and NVS Employees: UBI also offers personal loan for the applicants who have been employed with either KVS (Kendriya Vidyalaya Sangathan) or NVS (Navodaya Vidyalaya Sangathan). Such applicants are required to have a regular monthly income and account relationship with the bank. Another importunate obligation for such employees is that they should have a substantial service period ahead in the organisation to ensure the proper repayment of the loan. The bank offers loan amount up to Rs. 10 lakh under this

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