United Bank Of India

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About United Bank of India

United Bank of India (UBI) is one of the leading banks in India offering a host of banking products and services to its customers across the nation. Founded in December 1950 with the amalgamation of four small banks in Bengal viz. Hooghly Bank Ltd, Comilla Union Bank Ltd, Bengal Central Bank Ltd. and Comilla Banking Corporation Ltd, United Bank of India was nationalized along with 13 other banks on July 19, 1969. It continuously works toward emerging as one of the most dynamic, tech-savvy, progressive and customer-centric bank in India with pan-India presence. United Bank of India focuses on the business growth and profitability, while gives due importance on risk management in professional environment.

Currently United Bank of India has more than ` 54,536 crores of deposits as well as ` 35,727 crores of gross advances. It also has a three-tier organizational set up which comprises of the Head Office, 28 Regional Offices and 1,470 Branch Offices.

Role in Development

United Bank of India, after its nationalization, played a major role in the development in the rural and semi-urban areas. It's also designated as the Lead Bank in 30 districts in states like West Bengal, Tripura, Assam and Manipur. It also plays an instrumental role in spreading banking services to the remotest areas of the country, particularly in the Eastern and North-Eastern part of the country. It has also sponsored 4 Regional Banks (RRB) in West Bengal, Tripura, Assam and Manipur, where it has contributed 35% of the share capital.

Brief History

The history of United Bank of India dates back to 1914 when one of its constituents of banks Comilla Banking Corporation Ltd. was founded. In the following years, its other three constituents Bengal Central Bank Ltd, Comilla Union Bank Ltd and Hooghly Bank Ltd. were founded in 1918, 1922 and 1932 respectively. All of them were amalgamated to form United Bank of India in 1950. Later, Tezpur Bank Ltd. and Cuttack Bank Ltd. also merged with UBI in 1961. In 1973, Hindusthan Mercantile Bank Ltd. merged with UBI and again in 1976, it's the turn for Narang Bank of India Ltd. to merge with United Bank of India.

United Bank of India products and services

Deposit Schemes
Utility Schemes
Retail Credit
Priority Sector
Corporate Banking
SME Segment
United Demat
Third Party Products

Deposit Schemes

Following are offered under deposit schemes:

United Tax Savings Growth Plan
United Tax Savings Income Plan
United Bonanza Savings Schemes
Fixed Deposits
Re-Investment Plans
United Bonanza Current Deposit Schemes
Recurring Deposit
United Flexi Deposit Schemes
United Anand Deposit Schemes
Capital Gains Accounts Schemes
Savings Bank Account
United Children Savings Account
United Basic SB Account
United Current Deposit Account
United Gold and Platinum Current Deposit Schemes

Utility Schemes

NRI (Non-Resident Indian)
United Mobile Services
Forex
United Suraksha Yojana
RTGS (Real Time Gross Settlement)
OLTAS
Collection of Tax
E-Payment

Retail Credit

United Housing Loan Scheme
United Smart Loan Scheme
United Housing Loan for Pensioners
United Personal Loan Scheme for Salaried Persons
United Demand Loan Scheme
United Personal Loan Scheme for Pensioners
United Festival Loan Scheme
United Tour & Travel Credit Scheme
United Car Loan Scheme
United Consumer Loan Scheme
United Education Loan Scheme
United Shikshak Samman Yojana
United Nari Samman Yojana
United Trade Credit
United Mortgage Loan Scheme
United Cash Rental

Priority Sector

Agricultural Loans
Small Scale Industries
Road Transport Operators
Retail Trade
Professional and Self Employed Persons

Third Party Products

United Bank of India also offers third party products to its customers. Following are the third party products provided by UBI:

Mutual Funds
Life Insurance Products of Tata AIG Life Insurance Company
Non-Life Products of Bajaj Allianz Insurance Company Ltd
Credit Card issued by SBI Cards
Inward Money Remittance by UAE Exchange & Financial Services Ltd.

UBI Loans

United Bank Of India loans are granted to individuals, corporate, and small scale industries. United Bank Of India agricultural loans are available. Interest rates are competitive and the simple loan process makes an added impetus to take financial advantages from the bank.

United Bank Of India Corporate Loans

United Bank Of India corporate loans are given to a wide swathe of industries that include housing finance companies, large corporates, and Non Banking Financial Corporations (NBFCs). Minimum loan amount is `25 crores. The loan can be utilized for establishing new units and modernizing old ones. Both infrastructure and non-infrastructure sectors are covered under the scheme. Export Credits are also permitted.

Priority Sector Loans

United Bank Of India priority sector loans cover the following different types:

Small Scale Industries
Retail Trade
Agricultural Loans
Professional and Self Employed Persons
Road Transport Operators
Agricultural Debt Waiver and Debt Relief Scheme, 2008

Retail Sector Loans

United Bank Of India Retail Sector loans cover the following products:
United Smart Loan Scheme
United Personal Loan Scheme for Salaried Persons
United Personal Loan Scheme for Pensioners
United Tour & Travel Credit Scheme
United Consumer Loan Scheme
United Shikshak Samman Yojana
United Trade Credit
United Cash Rental
United Housing Loan Scheme
United Housing Loan for Pensioners
United Demand Loan Scheme
United Festival Loan Scheme
United Car Loan Scheme
United Education Loan Scheme
United Nari Samman Yojana
United Mortgage Loan Scheme

United Bank Of India Educational Loans

United Bank Of India educational loans are also available. Maximum loan limit for studying in India is `7.5 lakhs. The loan limit for studying abroad is `15 lakhs.

Contact Address

Head Office

Last Updated on May 20, 2015

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