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Union Bank unveils 4 new deposit options for women, retirees, and co-ops

Union Bank of India has debuted four specialised bank accounts catering to different segments of the population, namely women, women entrepreneurs and professionals, pensioners, and cooperative housing societies.

Key Points:

  • The first account, called Union Unnati, is a current account designed specifically for women entrepreneurs and professionals, providing free cancer care coverage, personal accident cover, discounts in loan interest rates, retail loan processing charges, and minimal service fees.
  • Another account that targets women is the Union Samriddhi, which empowers women through a safe and convenient savings and financial management outlet, offering the same benefits as Union Unnati.
  • The Union Samman, on the other hand, is a savings account intended for pensioners, with door-step banking, personal accident coverage, discounts in loan interest rates and processing fees, and free health check-ups.
  • Lastly, Union SBCHS recognises the importance of cooperative housing societies, providing discounts in loan processing fees for purchasing solar lights, elevators, and other machinery, as well as concessional rates for home, vehicle, and education loans for society and flat owners.

Important Takeaways For All Competitive Exams:

  • CEO of Union Bank of India: A. Manimekhalai
  • Chairman of Union Bank of India: Shri Srinivasan Varadaraja
  • Union Bank of India founded in: 11th November 1919

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