SUMMER TRAINING PROJECT REPORT ON RETAIL BANKING

SUBMITTED TO: MS. PUJA KHATRI SUBMITTED BY: SAHIL MALHOTRA (13)

SCHOOL OF MANAGEMENT STUDIES GURU GOBIND SINGH INDRAPRASTHA UNIVERSITY, KASHMERE GATE, DELHI-110006
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ACKNOWLEDGEMENT

We wish to express our gratitude to all the people involved in the completion of this report. We are thankful to all of them for their help and encouragement throughout the completion of the report. They have been a constant source of support for me. First of all I wish to express my deep sense of gratitude to Mr. J.S.KHARAY – A.G.M, Union Bank Of India for providing his guidance and also for his full support in making the project enriching and informative and providing requisite facility in due course of the project. His constructive criticism of the approach to the problem and the result obtained during the course of this work has helped me to a great extent in bringing work to its present shape.

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TABLE OF CONTENTS

CONTENTS INTRODUCTION RESEARCH METHODOLOGY EXECUIVE SUMMARY BOARD OF DIRECTOR’S BANK’S CORPORATE MISSION RETAIL LOAN’S DEPOSITS RATES AND CHARGES NRI BANKING TOOLS USED FINDINGS CONCLUSION REFERENCES AND BIBLOGRAPHY ANNEXURE

PAGE Number 4 5 7 8 15 16 42 54 59 85 86 87 88 89

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INTRODUCTION
The Bank inaugurated by father of the Nation at the onset of 20th century, Union Bank of India has traversed the long road of successful Banking of 85 years. We trace our origin to the profound thoughts of Mahatma Gandhi. "We should have the ability to carry on a big bank, to manage efficiently crores of rupees in the course of our national activities. Though we have not many banks among us, it does not follow that we are not capable of efficiently managing crores and tens of crores of rupees." Union Bank of India is committed to maintain its identity as a leading innovative commercial Bank, alive to the changing needs of the society. Union Bank has offered vast and varied services to its entire valuable clientele taking care of their needs. Today, with its efficient customer service, consistent profitability & growth, adoption of new technologies and value added services, Union Bank truly lives up to the image of, "GOOD PEOPLE TO BANK WITH". Anticipative banking is an integral ingredient of value-based services. This ability to gauge the customer's needs long before he realizes, best reduces the gap between expectations and deliverance. Manpower is the key factor for the success of any organization. Union Bank has a dedicated family of about 26,000 qualified / skilled employees who will and always will be delighted to extend their services to the customers with heartfelt efforts. The Bank is a Public Sector Unit with 60.85% Share Capital held by the Government of India. The Bank came out with its Initial Public Offer (IPO) in August 20, 2002 and 39.15 % of Share Capital is presently held by Institutions, Individuals and Others. The Bank has over the years earned the reputation of being a techno-savvy Bank and is one of the front runners amongst public sector bank in the field of technology. It is one of the pioneer public sector banks, which launched Core Banking Solution in 2002. As of March 2005, more than 600 branches/extension counters of Bank are networked under Core Banking Solution, powered with the centralized technology platform, the Bank has launched multiple Electronic Delivery Channels and has installed nearly 351 networked ATMs. Online Tele banking facility is available to all its Core Banking customers. The multi facility versatile Internet Banking Solution provides extensive information in addition to the on line transaction facility to both individuals and corporates banking with the Core Banking branches of the Bank. In addition to regular banking facilities, today customer can also avail variety of value added services like cash management service, insurance, mutual funds, Demat from the Bank. The Bank will continue its endeavor in providing excellent services to its customer and enhance its businesses thereby fulfilling its vision of becoming "THE BANK OF FIRST CHOICE IN OUR CHOSEN AREA BY BUILDING BENEFICIAL AND LASTING RELATIONSHIP WITH CUSTOMERS THROUGH A PROCESS OF CONTINUOUS IMPROVEMENT".

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o o Does the CRM activities have any impact on customer locality To critically analyze the CRM initiative taken by bank to enhance custo mersatisfaction. Further. We all find this area of study very luc rative so we have chosen it as our topic of project.What are thevarious factors affecting it positively and negatively? This study will enha nce our knowledge and will helpus in times to come.RESEARCH METHDOLOGY NEED OF THE STUDY The need of this study is to find the impact made by the CRM activities on the customer sa tisfactionand sale. PERIOD OF STUDY: The period of the study for this project cover near about two months. 5 . On this study will let us know about the various aspects of the CRM acti vities. this much per iod is areasonable period to study the performance of target person and to gain knowledge wit h respect to theobjective of study. Region of study: ♦DELHI OBJECTIVES OF STUDY o o What are the different CRM techniques being adopted How much the CRM initiative of the bank helps them to retain their existi ngcustomer and acquiring new customers.

It includes study and fact finding inquiries of different kinds. what.when and how. Th us the major purpose ofdescriptive research is the description of the state of affairs. Population: Population includes the people of Delhi Proposed Sample Size: 15 customers Research Tool: Questionnaire FRAMEWORK OF ANALYSIS: The study has been undertaken to examine and understand the marketing aspect of customer r elationshipmanagement for a business playing a crucial role in the growth. as it exit s at present. The framework of study is concern withthe CRM activities by automobile dealer in the region defined above i 6 .TYPES OF THE RESEARCH: It is a Descriptive Research and the main objective of Descriptive Research is to learn about who. To understand thevarious CRM activities and the impact of those activities on customer loyalty and on the sale of thecompany we will design a questionaries that nclued all the above said objectives It also include Exploratory Research as we are focusing on the what are the recent trends in t he CRMactivities in the banks and what are their consequences.

commercial vehicles and two-wheelers. mainly non-banking finance companies (NBFCs) and housing finance companies (HFCs) catered to the nascent Indian retail finance market. there are a variety of consumer credit products being literally forced upon consumers by overzealous lenders. 7 . would provide funds to NBFCs and HFCs. Going forward. with few people availing credit to fund their purchases. The mid ‘90s saw several NBFCs mushrooming to exploit the huge potential of this market. who no longer consider credit as a social stigma and are more than willing to fulfill their aspirations through the credit mechanism. Indians were averse to the concept of availing credit to fund their purchases and believed in the concept of saving and then spending. Until 10 years ago.213 billion in 2003-04 to Rs 2. today. Commercial banks. many NBFCs.792 billion in 2008-09. Earlier. which comprises mainly loans for housing.EXECUTIVE SUMMARY The Indian retail finance market has witnessed a sea change during the last few years. from Rs 1. CRIS INFAC expects the retail finance market to grow at an annual rate of 18 per cent. instead of lending to retail consumers directly. who have realized the huge latent potential of the burgeoning Indian consumers. The retail asset finance market has grown between 1998-99 and 2003-04 at an annualized rate of 35 per cent (disbursements). cars and utility vehicles (auto finance). However. in order to capture a share of this retail market pie. The high growth rate between 1998-99 and 2003-04 can be attributed to the fact that 5 years ago. which. ignored the risks associated with the retail lending business and landed up burning their fingers. Consequently. This report focuses on the retail asset finance market. in turn. As competition intensified. while commercial banks focused on corporate lending. This has gradually led to a shift in the psychology of Indian consumers. the late ‘90s and early 2000 witnessed a number of NBFCs either shutting shop or curtailing their operations. would lend to retail consumers. the retail finance market was in its infancy.

and educational) on the assets side. Fixed. or depository services. and 3• Multiple customer groups (consumer.. Internet and kiosk).it refers to the dealing of commercial banks with individual customers. 8 . investments and securities).g. and mortgages. insurance. both on liabilities and assets sides of the balance sheet. and corporate). personal. 2• Multiple channels of distribution (call centre. housing. loans (e. auto. current / savings accounts on the liabilities side. Related ancillary services include credit cards.RETAIL BANKING Retail banking is quite broad in nature . are the more important of the products offered by banks. branch. small business. Today’s retail banking sector is characterized by three basic characteristics: 1• Multiple products (deposits. credit cards.

London. Nair’s career which began in Corporation Bank is an example of what innovation and drive can achieve in Public Sector Banks. UK and Sydney. Business of the Bank has grown from Rs 128700 crs i. Pune. He is a member of the College Advisory Committee of Reserve Bank of India. He is a member of the Governing Board of National Institute of Bank Management (NIBM).e US $ 65. his tenure since April 2006 has been characterized by a series of innovations resulting in putting the Bank on a trajectory of quality growth. He is a member on the Board of Trustees of CGTMSE. He is a member on the Management Committee of the Indian Banks’ Association (IBA). He is also the Chairman of the Governing Board of Institute of Banking Personnel Selection(IBPS) and serves on its Finance Committee. the first large Public Sector Bank to do so. In Corporation Bank he successfully introduced Cash Management Services. In March 2008.NAIR Chairman Managing Director Mr. He is the Vice-President of the Indian Institute of Banking & Finance(IIBF) and also serves as Chairman of the Executive Committee of the Institute. M. The Bank has opened representative offices in Shanghai and Beijing.18+ billion and a branch network of 2800+ branches across India. He is also a Director on the Board of the GIC Re.18 billion as of Mar’10 – a growth of 126% . In Union Bank.61 billion in Mar’06 to Rs 292000 crs US $ 65. which quickly created a market advantage for Corporation Bank. Australia and also its first full fledged overseas branch in Hong Kong. He also serves as a Director on the Board of Agricultural Finance Corporation Ltd. The Bank is one of the largest Public Sector Banks in India with business mix of Rs 292000 crs+ i.V.BOARD OF DIRECTORS  SHRI M. changing processes and empowering people. He is also the member on the Board of Governing Council of IDRBT and also on the Human Resources Committee of Governing Council of IDRBT. Mr. Abu Dhabi.e US $ 29. He served in Dena Bank as Executive Director and took over as Chairman and Managing Director. College of Agricultural Banking. He is credited with effecting a turn around in the financial fortunes of that Bank. 9 . Under his stewardship Union Bank has brought all its branches as also branches of its sponsored RRBs under the CBS network.Nair took charge of Union Bank of India as Chairman and Managing Director on 1st April 2006.V. UAE. thereby transforming the Bank into a customer Centric marketing organization. PRC. Pune and serves as a member on its Finance Committee. Mr Nair successfully introduced a change process called “Project Nav Nirman” by leveraging technology. Union Bank became the first large Public Sector Bank to network all its branches under the Core Banking Solution(CBS).

he was posted to the Bank’s Group Control Office in London. a Joint Venture Company of Union Bank of India and KBC . Raman has had a distinguished academic background.) from Osmania University (with a Second Rank) followed by an M. Ahmedabad. November 21. Raman currently oversees the portfolios of Corporate Credit.Kalia Executive Director Sh. Raman was with the Bank of India for over 34 years and has had exposure to different segments including Corporate Banking. select * from tab. Shri Kalia has been a professional banker for over thirty five years in various capacities across the country and abroad. Raman served in different parts of the country including Mumbai. and National Payments Corporation of India. Raman is also currently on the Board of Star Union Dai-Ichi Life Insurance Co. Kalia assumed charge as Executive Director of Union Bank of India w. Nainital Bank Limited and Bank of Baroda (Hong Kong) Ltd. Shri Kalia was the architect of the Bank of Baroda’s Joint Ventures Baroda Pioneer Asset Management Company Ltd. and Baroda L & G Life Insurance Company. 2009. Shri Kalia was General Manager in charge of the Wholesale Banking portfolio at the Bank of Baroda’s Corporate Centre.e. A postgraduate gold medalist in Political Science.Mr.A. 2008. he headed its Agra and Bareilly Regions successfully.at Jersey (UK) from 1983 to 1987 and as Chief Executive of Bank of India’s US Operations from June 2005 to October 2008.. Raman also had two stints Overseas . Eapen 10 . in Economics from Nagpur University (with First Rank and a Gold Medal). Pune. He was earlier the Executive Director of Vijaya Bank with effect from October 8. S. Belgium.International Business. London. Raman joined the Union Bank of India as Executive Director on 15th October.Impaired Assets and Transaction Banking etc. He was also in the Board of Bank of Baroda (Botswana) Ltd. He was the Chief Executive of the Bank’s operations in Mauritius and the Board Member of the Supervisory Board of India Advantage Fund sponsored by ICICI Venture Fund. Prior to taking charge at Vijaya Bank.Prior to joining the Union Bank of India.Treasury.  Shri K.Raman Executive Director Mr. On his promotion as Senior Manager in the year 1990. While serving Bank of Baroda. Mr.f. Bhubaneshwar and Nagpur in different capacities including as Zonal Manager in Orissa and Gujarat. Shri Kalia was also the Chairman of Pratapgarh Kshetriya Gramin Bank. especially in credit related matters and international banking. Mr. Shri Kalia is the recipient of several awards including Banker Shiromani Award and Utarkash Award.Director on the Board of Directors and Audit Committee of the Board of Erstwhile Bareilly Corporation Bank Ltd. He is a Commerce Graduate(B. He was also in-charge of credit and International Banking Business of the Bank’s Zonal Office Western Zone in UP. SHRI S.Com. He also holds a Diploma in Business Management and a Senior Diploma in German Language besides CAIIB from the Indian Institute of Bankers and ACIB from the Chartered Institute of Bankers. Mr. during which period the Center showed spectacular progress. Mr. Shri Kalia is known for his expertise. Ltd. Mumbai.  Shri S. C. 2008. Hyderabad. V. New Delhi. Shri Kalia is presently a Director on the Board of Union KBC Asset management Company Ltd. International Business and Human Resources Management. Widely traveled within and outside the country.Mr.

University of Delhi.Government of India Nominee Shri Eapen represents Government of India on the Board of Directors of the Bank with effect from 10th June. in Macro Economic Policy and Planning from the University of Bradford. 11 . . He also holds a Post Graduate Diploma in Management from Management Development Institute Gurgaon and an M. 2008. A Bank employee since 1979 and is presently a Special Assistant in M. New Delhi.Meghalaya cadre of 1984 batch and is presently Joint Secretary (Banking Administration). he has been instrumental in bringing about various improvements and streamlining the functioning of the department through Union Parivar resulting in speedy disbursement of PF Loans and Retirement dues.Mumbai.Marg Branch. 1970. An alumni of St. Financial inclusion. An employee representative on the PF Trustee in the Union Bank of India employees PF Trust for the last eight years. He is a Graduate in the faculty of Science and a member of the Institute of Cost and Works Accountants of India. He has worked in different districts of Assam and Meghalaya spanning more than a decade in District Administration. he has a Bachelor of Arts degree and a Post Graduate degree in Economics. He is also a member of many Committees at various levels that take up updating AIBEA movement. United Kingdom. He is an IAS Officer of the Assam. he is the General Secretary. Agriculture and Industries . Government of India. Planning and Programme Implementation. Currently. SHANKAR WORKMEN DIRECTOR Government nominated Director under Clause (e) of Sub-Section (3) of Section 9 of the Banking Companies (Acquisition and Transfer of Undertakings) Act.S. Shri Eapen is looking after issues relating to Agriculture Credit. He was also Finance Secretary of Assam for two years. Union Bank Staff Union.Rural Banking besides HR and Establishment issues of Public Sector Banks in his current assignment. Department of Financial Services. Mumbai and Organizing Secretary of AIUBEA the majority recognized Union in the Bank. Tourism and the Department of Personnel and Training.Sc. He is also the Working Committee Member of Maharashtra State Bank Employees Federation covering more than 50.  SHRI N. He has also served in various Central Ministries such as Commerce and Industry. In addition he has experience in areas such as Health and Family Welfare. Stephen's College. He is also involved in the Cooperative Society movement in Navi Mumbai and is the key member of the action committee formed by Navi Mumbai Municipal Corporation and Citizens to implement Municipal tax etc. Tourism.000 employees and is also the National General Council member.

 SHRI ASHOK SINGH Government Nominee Director under General Category Nominated by Government of India as a part-time non-official Director effective 19th February. Indian National Sugar Mill Workers' Federation. SRIRAM 12 .  PROF. He also holds a Ph. He is also a member on the Board of Trustee of the Employees Provident Fund managed by the Ministry of Labour. President. member. He is a graduate in the faculty of Science and a post graduate in Law from Lucknow University.  Dr. Lucknow. Gulfam Mujibi Part-time non-official Director Nominated by Government of India as a part-time non-official Director effective 29th January. He was AICC Observer for Nagaland State in the President Election held in the year 2007and also the Chairman of the National Youth Council. Ex-Member of State Election Committee (Jharkhand). State Branch of INTUC. Mujibi has been involved in social service right from his college days. Shri Singh was appointed to act as a delegate representing several trade unions to attend a number of the international labour conference.He currently holds important positions in several trade / labour unions and federations at the national level such as Chairman. Member Court of the University. 2009. President of Mahendra Mahila College. Coordinator of National Commission for Minority Educational Institution. Dr. Member of Senate. 1970. AICC . Govt. Gulfam Mujibi is a Post Graduate (MA) with a gold medal from Ranchi University. Labour Cell.S. under sub-section 3(h) and (3-A) of section 9 of the Banking Companies (Acquisition and Transfer of Undertakings) Act. he is associated with many social and educational institutions such as Director of Millat Primary Teachers Training College.D and LLB degree from Ranchi University. National Council of Rural Institutes. member on the Board of Governors of the Indian Institute of Management. Hyderabad.P. He is a social worker and a trade union leader actively associated with Congress party from his youth. Presently he is a member of AICC Mughalsarai ( Chandoli) and Vice Chairman. In addition. Ranchi University and Chairman of Milli Talimi Mission (Bihar and Jharkhand). of India. Ranchi. President. Indian National Trade Union Congress (INTUC) 1994-95. 2008 under sub-section 3(h) and (3-A) of section 9 of the Banking Companies (Acquisition and Transfer of Undertakings) Act. Dr. Shri Singh is a Chairman of standing Committee for effective co-ordination between Industry & Technical Education Institutions constituted by Government of India. U. Uttar Pradesh Congress Committee. Government of India.under the Ministry of Labour. M. Member of All India Congress Committee. Labour Cell. At present is Chairman Jharkhand Minority Commission. Allahabad and Governing Body . PCC. Vice President of Jharkhand State Congress Committee. National Committee on sugar. 1970/1980. Indian National Electricity Workers' Federation and INTUC. Indian National Defence Workers' Federation. He is the Vice Chairman of National Committee on Child Labour. Patron of Al Habib Women's and Law College of Bokaro. He started his career as a General Secretary of District Youth Congress. Secretary of Maulana Azad College. Ministry of Human Resource Development and Committee for monitoring the extension of social security to the construction workers under Ministry of Labour. Vice President.

Corporate Governance.He has also been awarded with the CA Business Achiever Award . Ravi Shareholder Director Shri Ravi is practicing Chartered Accountant apart from being a Science graduate and Masters in Commerce..M/s Ravi Rajan & Com Pvt. Agricultural Finance. He had been on the Board of other Public Sector Banks both in the capacity of a Shareholder Director and as appointed by the Central Government under the Chartered Accountant Category.  Shri Arun Kumar Nanda Shareholder Director Shri Arun Nanda is a qualified Chartered Accountant. Bangalore (1992). He holds a Post Graduate Diploma in Rural Management from Institute of Rural Management. His fields of expertise are Financial Accounting. He has been recently conferred the award of Chavalier de la Legion d’Honneur(Knight of the National Order of the Legion of Honour) by French President and he has also been warded the Real Estate Person of the Year from GIREM Leadership Awards. IDBI Home Finance Limited. Deputy Chairman – Western Region of CII. He was awarded the Indira Gandhi Solidarity Award for scoring a string of inspiring achievements in chosen Field. .Sharma 13 .Corporate at The Institute of Chartered Accountants of India Award 2009 and Lifetime Achievement Award for his outstanding contribution to the Hospitality Industry and the Service Sector by the Golden Star Awards 2010. Company Secretary and also a law graduate having more than 35 years experience. Ltd.He is the Chairman Emeritus of the Indo-French Chamber of Commerce. Anand (IRMA) (1984) and is a Fellow of the Indian Institute of Management. He has vast experience in compliances. Ltd. IDBI Capital Markets Limited.Shri Nanda is an Executive Director and President. major amongst them are Mahindra Ugine Steel Limited. Chairman of CII National Committee on Water and a member of the Governing Board of Bombay First.S.  Shri B. Infrastructure Development in Mahindra and Mahindra Limited and also on the Board of other Mahindra group companies. His publications include two books and several papers. identifying new business opportunities and corporate communications. Maharishi Housing Development Corporation Ltd. He is also on the Board in number of other companies. UTI Trustee Company P Ltd.M. He has more than two decades of experience in academia and consulting.Ravi Financial Management Services Pvt. strategic planning. LIC Housing Finance Corporation Ltd. investments. Social Entrepreneurship and Microfinance.  Shri S.Shareholder Director Represents shareholder interests on the Board having been elected to the Board at the EGM held on 14th June 2006 and re-elected for a further period of 3 years in EGM held on 22/06/2009 .. Bharat Heavy Electricals Limited. a member of the governing Board of the Council of EU Chambers of Commerce in India.

Chartered Accountant Director Shri B. Shri B. 14 .Sharma is qualified Chartered Accountant practicing for more than 26 years. During his association with Professional Development Committee he has worked very closely in the fields of Public Sector Undertakings .Chartered Accountant Category of Banking Companies ( (Acquisition and Transfer of Undertakings) Act 1970/1980.2010 under the clause 9 (3)(g). In addition he is also a qualified Information System Auditor. Private Equity Financing and Regional Rural Banks. Shri Sharma was also a special invitee to Professional Development Committee of the Institute of Chartered Accountants of India during the year 2009. During his span of experience of over 2 decades he has handled Concurrent Audit and various other assignments of banks and has gained expertise in the field of Finance. Prior to his nomination to Union Bank Shri Sharma had been on the Board of Vijya Bank appointed by Central Government under Chartered Accountant Category.Banking & Taxation.Sharma has been appointed on the Board of the Bank vide notification dated 16th April.M.M.

which is to gain market recognition in the chosen areas. product packaging and promoting the product in the market.   To promote confidence and commitment among the staff members. to address the expectations of the customers efficiently and handle technology banking with ease.  To build sizeable markets share in each of the chosen areas of business through effective strategies in terms of pricing.  To sustain the mission objective through harnessing technology driven banking and delivery channels.  To facilitate a process of restructuring of branches to support a greater efficiency in the retail banking field. 15 .Bank’s Corporate Mission  A logical extension of the Vision Statement is the Mission of the Bank.

RETAIL LAONS                   Union Trade Union Rent Union Cash Union Health Union Home Union Miles UnionEducation Union Smile Agriclinic/Agribusiness Loans Land Purchase Union Mortgage Union Shares Union Comfort Union Top Up Specail Education Loan Schemes For Premier Institutes Scheme for Commercial Pilot Training Programme / Course Special Offer For Existing Home Loan Customers 16 .

The target group under Union Trade scheme include: 1. 500 m lacs Rs. Shop Establishments Act. Licence to deal in petroleum products/LPG PURPOSE I. 4. Malls.00 lacs 25% 17 . entertainment etc.500. 2. dealers in groceries.500.g. consumer durables.00 lacs – 20% (For arriving of Drawing Power only) . Drug Licences for Retail Trade. Sales Tax Registration. 2. All Retail Traders 2.10 lacs – NIL . Departmental Stores.Limits above Rs. 3. co-operative stores II. 100.UNION TRADE ELIGIBILITY Borrower should be in possession of registration / licences as applicable under local law e. Service traders like.> Rs.00 lacs Rs.00 m lacs Maximu Rs. 2. 1. maintaining required quantum of stock and/or book debts. restaurants. Ration & Civil supplies. QUANTUM Working Capital Term Loan Minimu Rs.10.00 lacs to upto Rs. All Wholesale Traders Including Supermarkets.00 lacs MARGIN FOR WORKING CAPITAL LIMIT:Upto Rs. 5.

Per lac > Rs 10 lacs and upto Rs 1 Rs.500. 2504/Rs.00 lcas .For renewal/modification the charges as stipulated for general advance applicable SECURITY .07.e. However. balance of last 12 months if loan is closed on takeover by other Banks / Financial Institutions 18 .Above Rs. 2% charged on an average o/s.Primary : Charge over stock and Book Debts (not older than 90 days) . 154/. 25% has to be brought by the borrower) .f 01. 201 .75%) PROCESSING CHARGES (EXCLUDING SERVICE TAX AS APPLICABLE) CHARGES NEW PROPOSALS Upto Rs 25000/Nil Rs 25001 to Rs 2 lacs Rs.2009)(BPLR = 11.00 lacs subject to approval of the sanctioning authority Other condition No Prepayment penalty if the loan is adjusted by the borrower from his own verifiable legitimate sources or genuine sale. (out of total cost of assets/equipment/construction.per one lac subject to miminum crore of Rs.per Proposal > Rs 2 lacs upto 10 lacs Rs. 254/.15000/= Renewal/Modifications -.500.not less than Rs. 100/-per lac subject to minimum of > Rs 1 crore Rs.FOR TERM LOAN:25% margin irrespective of amount of loan.Rate of Interest * (w.

PSUs. our Bank. 19 .75% SECURITY Primary: Assignment of receivables and recording of power of attorney with lessee. ELIGIBILITY Individuals /partnership firms/ corporates.e. in Metro/urban/semi-urban/ rural areas.e.Union Rent WHO CAN AVAIL Owners of large commercial / office spaces rented out to large corporates. 14% BPLR=11. MARGIN 25% RATE OF INTEREST(w. 13.e. PURPOSE To meet liquidity mismatches / any other productive purpose or to meet contingencies TYPE OF FACILITIES Term Loan QUANTUM OF FINANCE Based on future rent receivables subject to 75% of the gross rental income for the residual lease period less (advance rent received+ property tax + income tax + other statutory dues of the lessor) or 75% of the market value of the property whichever is less.25 i.5% Above 3 Years : BPLR+2.75 i. Collateral: First charge on property rented out or any other property of a value not less than 133% of the loan amount. banks. etc. MNCs.f 01/07/2009) Upto 3 Yrs : BPLR+1.

OrIrrevocable power of attorney from the lessor in favour of the Bank for collection of rent. 20 . DOCUMENTATION  Agreement of loan and power of attorney. OR  An irrevocable power of attorney from the lessor to collect the rent which should be duly registered with the lessee.PROCESSING FEES 1% of loan amount with a minimum of Rs 5000/REPAYMENT In equated instalments at the same frequency at which rent is received in a maximum period of 7 years or the residual lease period whichever is less.  Deed of Guarantee. the lessee and the Bank.  Tripartite Agreement between the lessor.

PURPOSE To meet financial requirements. REPAYMENT  12 x 36 EMIs in case of Demand Loan repayable in Installments  Above 36 to 48 EMIs in the case of Term Loan RATE OF INTEREST(w. who draw fixed income / pension through our Bank.1.000/. Banks and other reputed private organisations etc.f 1/07/2010)(Base Rate)  A fixed interest rate of 13.UNION CASH ELIGIBILITY Retired employees of Government / Semi Government undertakings. NSCs Bonds issued by Government of India / Financial Institutions etc.75%.e. In genuine cases. personal guarantee of spouse or a person who is the nominee under pension scheme is to be obtained. PROCESSING CHARGES (EXCLUDING SERVICE TAX) NO Processing charges. SECURITY Pledge of Deposit Receipts / Shares / Debentures of corporates of good standing. Where sufficient security is not available. the Bank may consider this facility on a clean basis.or 12 times of monthly pension. OTHER CONDITIONS 21 .00. whichever is less. QUANTUM Upto Rs. MARGIN  25% in case of Deposit Receipts / NSC / Bonds issued by Government of India / Financial Institutions  50% in case of Shares & Debentures.

REPAYMENT Maximum 7 years including initial moratorium period of 3/6 months . 22 . Personal Computer and accessories with software for diagnosis and UPS systems.50% of loan amount. Firms / Companies engaged in medical profession in which Doctors / Dentist are Partners or Directors or the Proprietor. machiner and such other items to start clinics.e. QUANTUM An amount equivalent to 75% of the equipment cost and other Assets to be financed.Declaration is required from the spouse who is eligible for family pension. SECURITY Hypothecation of equipment / items purchased out of Bank finance. PROCESSING CHARGES(EXCLUDING SERVICE TAX) 0.00% for all. RATE OF INTEREST(w. UNION HEALTH ELIGIBILITY Any qualified medical practitioner / Dentist in the age group of 25 to 60 years with minimum three years experience and in the age group of 25 to 60 years. For acquiring premises in order to set up of clinic. Collateral security 50% of loan amount. Air conditioners. PURPOSE For purchase of brand new Electro medical & other sophisticated equipment including Operation Theatre equipment. Refrigerators. Interest rate will not undergo any change till full repayment of the loan . and towards cost of furnishing and medical supplies. For purchase of equipments.f 1/07/2010) A Fixed Interest rate of 12. MARGIN Minimum 25% of cost of equipments and other assets to be financed. Generators.By Equated Monthly Instalments. EM of premises in case the loan is for acquiring premises.

HOUSEFED and such others. Repair/Improvement/Extension. Rs. Kolkata. 10 lacs for repair.100 lacs  Max. QUANTUM  Max Rs. Ahmedabad. Bengaluru. Noida and New Delhi. 200 lacs. mother. For purchase/ construction of 2nd property (independent house/flat) Plot sold by a Government-recognized agency viz. * Rate of Interest prevailing on the date of sanction shall be applicable. No Prepayment penality if the loan is adjusted by the borrower from his own verifiable legitimate sources or genuine sale. HUDA. spouse or son) with regular source of income.. Delhi. 20% of the cost of the property.  A minimum of 40% marks as per investment grade scoring chart(internal method of the bank) PURPOSE      Purchase/Construction of independent house/flat.21 years of age.  For other cities Rs.Gurgaon. However. 2% charged on an average o/s. MARGIN  For loan up to Rs. Chennai. 23 . UNION HOME ELIGIBILITY  Indian Citizen . wife. balance of last 12 months if loan is closed on take over by other Banks / Financial Institutions.OTHER CONDITIONS Third Party gurantee is not mandatory. 35% of the cost of the property.  For loan above Rs. 300 Lacs for Mumbai. Repayment of loan availed from another agency/Bank/NBFC. 200 lacs.  Individuals who may be employed/self-employed in business having regular income. Hyderabad.  Either single account or joint account with other family members (father.

if loan is closed on takeover by other banks/financial institutions.25% Base Rate +1.07.25% of the loan amount at the time of application plus service tax as applicable  0.e. 2010) For Home Loans Upto Rs.50%=9.A Base Rate +1.e.50% of loan amount plus service Tax as applicable subject to a maximum of Rs.00% N.f 1/07/2010) For Home Loans Above 5 Lacs and Upto Rs.25% of loan amount on acceptance of sanction plus service as applicable PREPAYMENT PENALTY  No prepayment penalty if the loan is adjusted by the borrower from his own verifiable legitimate sources of income or genuine sale.However.f 1 .  Option of Flip/Step-up/Balloon methods of repayments for the convenience of the borrowers. 30. 5.A Rate of Interest(w.00 Lakhs 24 . VALUE ADDED SERVICES     Credit Card will be issued free of annual fees.REPAYMENT  Moratorium up to 18 months wherever loan is taken for under construction flat or building. 2% charged on the average outstanding balance of last 12 months.75% Base Rate +1. No hidden or built-in costs Quick processing and disposal of loan applications Flexible repayment options OTHER ATTRACTIVE FEATURES      No prepayment penalty Flexible Repayment schedule Easy and convenient EMIs Sanction within 72 hours on receipt of application in full as per requirement. Pay interest on daily reduced balances.00%=9.50% Base Rate +1.  The maximum repayment period should not exceed 25 years (including moratorium)for construction / purchase of house/ flat and 10 years for repair. Rate of Interest (w.25%= 9.15000/ 0.  By Equated Monthly Installments(EMI).A > 15 Yrs to 25 Yrs N.00 lacs Period Fixed Floating Upto 5 Yrs > 5 Yrs-10 Yrs 9. PROCESSING CHARGES  0.50 %=9.50% > 10 Yrs to 15 Yrs N.

25%=10.e.25% >10 yrs upto 15yrs N. Base Rate+2.f 1/07/2010) For Home Loans Above Rs.f 1/07/2010) For Home Loans Above Rs. 3 yr 4th Yr Onwards Fixed Upto 5 Yrs 5-10 Yrs > 10-15 Yrs 9.25% Base Rate + 1.A >15 yrs to 25yrs N.A Base Rate +2.50% i.00%= 10.A Rate of Interest(w. 50.00%=10.A Floating Base Rate + 1.e 9.Period 1st.00% Base Rate +2. 30 lacs and upto Rs.50%=9.A Rate of Interest(w.e.75%=9.00 Lacs Period Fixed Floating Upto 5 yrs >5 yrs to 10yrs 10.50% N.00 Lacs Period Fixed Floating Upto 5 Years N.00% i.00% Base Rate +1.00% >10 yrs to 15yrs N.50% i.75% Base Rate +2.A Rate of Interest(w.2nd.75%=9.00% 25 .75 % N.25% Base Rate +2.f 15/02/2010) For Home Loans Above Rs.e.00% =10.A.e 9.e 9.e 9.A N.A Base Rate +1.50% > 15 yrs to 20 Yrs N.50% Base Rate +1.25% i.00 Lacs and upto Rs.25%= 10. 50.75% Base Rate +1.A >15 yrs upto 20yrs N. 10. 200 lacs Period Fixed 4th Yr Onwards(floating) Upto 5 yrs >5 yrs upto 10yrs 11.00% ase Rate + 2. 200.00% Base Rate+1.00% i.75% N.e.

e. 40% marks as per investment grade scoring chart. QUANTUM  Four Wheeler. 10 lacs for old vehicle  Two Wheeler.  Two Wheelers . Base Rate+2. Under Tie-up 26 .  Firms/Companies.  Professional/Businessmen having regular income.A Maximum of 36 months in Equated Monthly Installments(EMIs). Base Rate +2.50% i.A Maximum of 60 months in Equated Monthly Installments(EMIs).  50% of cost ofold vehicle.75% Union Miles ELIGIBILITY  Individuals of the age 18 years and above  Permanent employee of Central/State/Defence/Police Force/Public or Joint Sector Undertaking/reputed firms/ established Educational Inst. for personal or professional use  Second hand vehicles upto 3 years old also eligible.25% >10 Years to 15 Years N.e 10.75% >15 Years to 25 years N.A. PURPOSE  For Purchase of new two/four wheelers.75% i. Base Rate +2.A.  Min.e 10.A.4 times the netannual income as per ITR/Salary slip. subject to a amximum loan of Rs.75% i.4 times the net income as per ITR/ salary slip subject to a maximum loan of Rs 1 lacs for new vehicle MARGIN  15% of on road price(Ex-showroom +Registration+ Insurance+ Road Tax). 40 lacs for new vehicle and Rs.  Borower has atleast minimum services to liquidate the loan 1 year prior to retirement. REPAYMENT  Four Wheelers . 10.> 5 Years to 10 Years N.

50% p.) Rate of Interest (w. 2 Lacs. 72 EMIs (Maruti Suzuki India Ltd.f.1000 per vehicle for Loan over Rs.Hyundai Motors India Ltd.for Period Upto 3 Years Rate of Interest : 11.07. *Processing charges are waived from 01.25% p.00%  Old Cars (not older than 3 Yrs.  Four Wheelers : Rs. GUARNTEE  Gurantee of the spouse. Above 3 Years Rate of Interest : 13.2005 to 31.Tata Motors Ltd. 1.a  2 Wheelers . 3rd party gurantee sufficient means..Max.a.12.00% p.e.------------4 Wheelers .2005 SECURITY  Hypothecation of vehicle financed by the Bank. OTHER CONDITIONS 27 .09.) Rate of Interest :13.2010)  4 Wheeler .  Bank's lien to be got noted with the Transport Authorities.a PROCESSING CHARGES (EXCLUDING SERVICE TAX)  Two Wheelers : Rs. 2 Lacs. 250  Four Wheelers : Rs. 500 Loan upto Rs.a Above 3 Years Rate of Interest : 11.Upto 3 Years Rate of Interest :12.75% p. In case unmarried.

MBA. Salary Certificate/proof of income and proof of residence to be obtained and held on record. Studies Abroad :  Graduation : For job oriented Professional / technical courses offered by reputed universities.  To the meritorious students to pursue higher / Professional / technical education. No Pre-Payment penalty if the loan is adjusted by the borrower from his own verifiable legitimate sources of income or genuine sale. Comprehensive Insurance with Bank Clause. UNION EDUCATION OBJECTIVES The scheme aims at providing financial assistance on reasonable terms.  Graduation/Post Graduation.  Management course. 2% charged on an average o/s. CPA. QUANTUM 28 .  Secured admission to Professional/Technical courses through Entrance Test/Selection Process.  Courses conducted by CIMA. However. balance of last 12 months if loan is closed on take over by other Bank/Financial Institutes.  Professional course.  Secured Admission to foreign University.  Post Graduation : MCA. PURPOSE  To poor and needy students to undertake basic education. MS etc. USA etc. Studies in India :  School education including +2 stage.  Passed the qualifying exam.London.  To poor and needy students to undertake basic education  To the meritorious students to pursue higher / professional / technical education ELIGIBILITY Student Eligibility  Should be an Indian National.

 Should have secured admission to the foreign institutions for studies abroad Duration of the Course 12-24 months Type Of Institution 1. 4 lacs for studies abroad.4 lacs.Scheme for Commercial Pilot Training Programme / Course Eligibility  Should be Indian National. Min.S. Scholarships/ assistance to be included in Margin.75% 29 . Min.lacs in India. 4 lacs 11. Rate Of Interest For loans up to Rs. as per directives of Director General Of Civil aviation. The licenses issued by such institution should be convertible into corresponding Indian Licences in case the applicant desires to take up employment in India after completion of course/ training abroad. Government Of India. in U.S. 2. Govt.A the Federal Aviation Administration. 4. Quantum Of Loan      Nil margin up to Rs. For course/training programme abroad: The course/ training programme should have been offered by recognized institutions abroad approved by competent authority in that country eg. For Course / Training programme in India: Government or recognized Private Institute approved by Director general Of Civil aviation. Margin to be brought in year to year whenever disbursement made on pro rata basis. Of U. Government of India.5 % margin for loans above Rs.15% Margin for loans above Rs.  Should have secured admission to the relevant course through admission test.A.

 Loan above Rs.For Loans above Rs.suitable collateral security/third party guarantee acceptable to the bank. 7. 30 ..50 lacs For Loans above Rs.50% additional interset concession or girls students Security  No security up to Rs. 4 lacs and upto Rs.personal guarantee to the satisfaction of the bank.00% 0. 7.50 lacs.50 lacs 12. 4 lacs. 4 lacs and 12. Life insurance policy for a sum not less than the loan to be taken on the life of the student/ applicant and assigned in favor of the Bank. 7.50 lacs.50% upto 7.  For loans above Rs.

2010 is dispensed with.Special Offer For Existing Home Loan Customers ELIGIBILITY Existing home loan borrowers under Union Home loan who have :  sanctioned loan limits of more than Rs.00%(Fixed) QUANTUM OF LOAN  The Eligible amount will be as per regular Union miles Scheme under respective delegation. 10 lacs AND  a satisfactory repayment track record of 2 years or more PURPOSE  For purchase of new 4-wheeler only RATE OF INTEREST: Up to 3 years Above 3 years 9.) SECURITY  Hypotheaction of vehicle financed by the Bank  Bank's lein to be got noted with the transport authorities.2009 31 .) OTHER TERMS AND CONDITIONS: All other terms and conditions as per Union Miles. * Offer Valid till 30.2010.06.02.09.  (Extension of Mortgage of House as Collateral security is waived off vide IC 8673 dated 16.  (Slabwise Eligibility communicated vide IC 8572 dated 17.50% (Fixed) 10.

DEPOSITS             Cumulative Deposit Scheme Deposit Reinvestment Certificate Monthly Income Scheme Union flexi-Deposit Capital Gains Exemption Deposit Scheme Senior Citizens Scheme Multi Gains Savings Account Union Monthly Plus No Frills Saving Account Union Tax Saver Union Super Salary Account Union Classic Current Account 32 .

33 . in intervals of 3 months. the account holder can convert the amount of installments already paid. in case the monthly installment is to be discontinued for any reason. However.onwards. The installment amount selected will be payable every month. Account can be opened for any period ranging from 6 months to 120 months. Interest at the permissible rate is compounded every quarter.50/. For the period the cumulative account has run. cannot be altered. The maturity amount will be paid one month after the deposit of the last installment (latest table giving maturity values available with the branch). It encourages small investors to save by easy monthly installments over a fixed period. A pass Book will be provided to the depositor.Cumulative Deposit Scheme This scheme is a household savings plan. compound interest at the applicable rate is payable. Monthly installments can be for any amount from Rs. into Fixed or Reinvestment Deposit for a period longer than the remaining period of the Cumulative account. Number of installments once selected.

65 months and 6 days. First such interest will be paid in the month. Minimum amount of deposit will be Rs.500/. following the month in which the deposit is kept 34 . is automatically reinvested at quarterly intervals. The amount invested doubles over a period of time. interest is payable at the contracted rate every month. the amount invested multiplies and matures into attractive lump sum. Monthly Income Scheme As the name of the scheme denotes.in Urban/Metro centres and in multiples thereof. Interest is paid/credited to the Savings/current/Cumulative account of the depositor during the last week of every month. Deposits can be accepted even for odd periods like 37 months. Interest is paid monthly at the discounted value (latest table for Monthly Income Scheme is available with the branch).in Rural/Semi-urban centres and Rs. Deposits can be made for any period from 6 months to 120 months. Interest at applicable rate for the period for which the deposit is kept. etc.100/. on the fixed deposit which is accepted for any period from one year to ten years.Deposit Reinvestment Certificate This is an ideal scheme for investing a lump sum amount where interest is compounded quarterly and paid along with the principal amount invested. Interest being compounded. (Latest maturity value table available with the branch).

with a minimum of Rs 5. Interest will be paid on a quarterly on the Fixed Deposit account.000/. In other words.000/.000/ . 35 .000 WHO CAN OPEN AN ACCOUNT All individuals.as a Savings Bank Account. The scheme is also open to Non-Resident Indians who are eligible to open account as per or existing rules.000/.e liquidity with higher interest returns on surplus funds. i. increased in multiples of Rs 5. Whenever the outstanding balance in Savings Bank Account goes below the stipulated amount the gap will be bridged by transfer of required funds from depositor’s Fixed Deposit Account in multiples of Rs 1.000/-. PERIOD OF DEPOSIT The Fixed period will vary between 46 days to 5 years. while you enjoy the high returns of a Fixed Deposit in your regular Savings Account.In case of NRI Deposit.for a fixed maturity period. Savings Account and interest credited will be recorded.as a Term Deposit(Fixed Deposit). HOW DOES THE SCHEME WORK  The depositor opens a Savings Bank Account with a minimum amount of Rs 10. AMOUNT OF DEPOSIT  A minimum Rs 10. reap the best of both worlds! What’s more. PURPOSE The new Deposit Scheme has integrated features of the Savings Deposit and Fixed Deposit. with UBI’s Flexi Deposit Scheme you can just sit back and relax.and will issue standing instructions to UBI to maintain a certain predetermined balance through out the tenure of the account and to transfer the surplus funds over and above the said limit to a Fixed Deposit Account in multiples of Rs 5. singly or jointly who are eligible to open Savings A/C.  A Minimum of Rs 5.000/. you get the convenience of a free ATM Card. RATE OF INTEREST As applicable to Savings Bank Deposit and Fixed Deposit in force from time to time.Union flexi-Deposit Now. PASSBOOK  A specially designed Passbook will be issued to the depositor wherein all the details of Fixed Deposits.  No separate Deposit Receipt shall be issued by the Bank. minimum period will be one year.

e.  No loan / overdraft / lien will be sanctioned / permitted against FDR held under this Scheme.  A penalty of Rs 25/. for acquisition of new asset under the respective Section of the Income Tax Act. DEPOSIT ACCOUNT ‘B’  This account will be in the form of Term Deposit.  Withdrawals under Deposit Account ‘B’ can be made after the expiry of the period for which the deposit has been kept. with an option to the depositor to keep the deposit either as cumulative i. Capital Gains Exemption Deposit Scheme The Scheme has come into force from 22nd June. 1961. 36 .  In selected cities an ATM* Card will be issued free of cost to all deposit holders under this scheme if requested for at the time of opening of the account. if the amount of Capital Gains or the net consideration is deposited in the bank on or before the due date of filling the return of income by the tax payers OPENING OF ACCOUNTS  Accounts under the Scheme can be opened only at Semi-Urban / Urban / Metropolitan Branches.m will be levied whenever the balance in the Saving Account and / or in Fixed Deposit A/C is reduced below the minimum level of predetermined sum. WITHDRAWAL  Withdrawals under Deposit Account ‘A’ can be made from time to time by the depositor. 1988.00 lac.p.e. the tax payers can avail of the benefit of exemption from Capital Gains.  Nomination facility is available.  Roll over of deposit on maturity is permitted. similar to our Fixed Deposit. The amount so deposited would be required to be utilized by assesses.  Two types of deposit accounts can be opened under this Scheme.OTHER FEATURES  Free credit card to depositors who maintains a minimum balance of Rs. Under this scheme. subject to other provisions of the Scheme. within the specified period. similar to our DRC Deposit or as non-cumulative i.  The deposits under this Scheme may be made in one lump sum or in instalments at any time on or before furnishing the return of income. 1. DEPOSIT ACCOUNT ‘A’  The deposits made under this account shall be in the form of Savings Bank Deposits.

DOCUMENTATION At the time of opening of a new deposit account.  Interest will be paid quarterly in the account as against half-yearly in a normal savings account.to the individual / any one joint account holder.25000/. the senior citizen may produce any of the following documents as proof of age. FREE SERVICES*  A Credit Card will be issued free for the first year with a limit of Rs. 2) LIC policy 3) Voters Identity Card 4) Pension Payment Order 5) Birth Certificate issued by the competent authority 6) Passport 7) Any other document acceptable to the bank VERIFICATION Once the age of a senior citizen is verified for accepting deposit under the special scheme for senior citizens.Senior Citizens Scheme ELIGIBILITY Any person who has completed the age of 60 years is treated as a senior citizen for obtaining the benefit of the additional interest. under the special scheme for senior citizen. JOINT ACCOUNT Senior citizen may deposit jointly with other persons below the age of 60. 37 .in a savings account. In such cases the name of the senior citizen is to be given as the first name in the application. 1) Senior School Leaving Certificate indicating date of birth. Multi Gains Savings Account THE SCHEME IN BRIEF  Multi Gains Savings Account (MGSA) Scheme requires maintaining a minimum balance of Rs.25000/. no further proof of age is required while accepting subsequent deposits or for renewal of deposit of the senior citizen.  You can upgrade your existing savings account into MGSA by filling in a simple declaration form or open a new MGSA account.

subject to satisfactory utilization of the cheque leaves.will be allowed per month. of monthly installment. SALIENT FEATURES :  The Scheme is available to Individuals / Institutions / Corporates / Proprietorship / Partnership / Trust / HUF etc.  A maximum of two free remittances to anywhere in India aggregating to Rs.  Interest will be calculated on monthly product basis.1000/Customer can deposit maximum upto Rs.  Local / outstation cheques up to Rs. during a month subject to maximum ceiling of 10 times Core Amount.  Minimum Core Amount is Rs.will be collected free of charge. Union Monthly Plus Purpose A Novel User-friendly Recurring Deposit Scheme.per month. at the time of opening the account and deposit the same.25000/.  If you desire.1. with flexibility of Step Up and Step Down options.15000/. Example: Core Amount Rs. Step Down Options :  After stepping up the instalment amount.  The period of deposit will be from 6 month to 60 months. a customer can also reduce the same (Step 38 . for the minimum balance between the10th & last day of the month and will be credited quarterly. in multiple of one month.  Interest will be paid for any delay in collection of instruments of MGSA account holders. initially.  The account holder will be provided with 10 cheque books free of cost during a financial year.  The Scheme offers flexibility of depositing monthly instalment amount. An ATM Card will be issued free to the sole / any one joint account holder wherever the ATM facility is available.100/.  The customer will have to select the "Core Amount".00.& Maximum Rs.000/-.  Rate of nterest on this scheme will be as per the Term Deposit rate applicable for the period.10000/. The installment can also be deposited one or more times. your MGSA account can be transferred to any of our branches in India free of cost. by way of Step Up & Step Down options Step Up Options :  Depositor can increase (Step up) the monthly installment amount upto 10 times the Core Amount during any month.

Nagaland & Tripura.  No cequebook facility will be available. Salient Features of “NO FRILLS SAVING ACCOUNT”  All resident individuals eligible to open a "No frills saving account" subject to the conditions that only one member of the family can open such account in single/joint name/s. at the time of availing loan.  Nomination facility is available.  Total credits in the account should not exceed Rs. withdrawals will be through withdrawal slip. Arunachal Pradesh.  Special facilities under "No Frills Account" for residents of North-eastern states i.per entry.Down). At other branches. like other Deposit Scheme. Mizoram. in any subsequent month/s. UNION BANK OF INDIA RESERVES THE RIGHT TO CHANGE / ALTER / WITHDRAW TERMS AND CONDITIONS OF THE SCHEME.  Withdrawal of cash will be available only through ATM wherever online ATM facility is available.100000/. no penalty will be levied on delayed instalment.  The balance in all the accounts of the accountholders taken together in the bank should not exceed Rs.  Clean overdraft upto Rs. 39 .  Similarly. Meghalaya.  Nomination facility is available. Entries above 30 will be charged @ Rs.  One ATM / International debit card will be issued to the account holder.in non-CBS branches and in CBS branches average quarterly balance of Rs.2009.e.25/ No penalty for non-maintenance of prescribed minimum/average quarterly balance.in a year.  For accounts opened on or after 01.  No penalty will be charged in case of premature closure. maximum amount that can be remitted during a month including step up is limited to Rs100000(Rupees One Lakh Only)  Premature closure is allowed.50.  There is no restriction on entries for deposit of Cash/Cheques in the account. No Frills Saving Account Open a “No Frills saving account” with UNION BANK OF INDIA and avail world class banking facilities maintaining nominal minimum balance. but the same should not be less than the Core amount.000/-.  Loan facility is permitted upto 75 % of the deposit amount.05.5/. Assam.25/.  Number of free customer induced debit entries will be restricted to 30 per half year including debit entries through ECS/ATM.  Minimum balance required in the account is Rs. Manipur.500/-once in a year (Conditions apply). at 2 % ODR.

The product will be available for investment. Companies. along with other particulars. The said Term deposit will not be transferred to any other Bank. This will be subject to the terms and conditions governing such loans/advances. as the case may be.Union Tax Saver Eligibility  All individuals and HUF having PAN are eligible to invest in this product. address.  The single holder type of deposit shall be issued to an individual for himself or in the capacity of the Karta of the Hindu undivided family.in a financial year. Issue of term deposit receipt  The term deposit receipt shall bear the name. Clubs. Period of Deposit  Deposit will be accepted for a minimum period of 5 years and maximum period of 10 years. Types of term deposit  The deposit will be accepted in the form of DRIC or Fixed Deposit or Monthly Income Scheme. at either of the two branches. 40 . The joint holder type of deposit receipt may be issued jointly to two adults or jointly to an adult and a minor and payable to either of the holders or to the survivor.. until further announcement or otherwise withdrawn. Trust. Authorised Branches  The deposit will be accepted by all branches across the country. Societies. Investment  The amount to be invested in the term deposit of the Bank shall be a minimum of Rs 5000/and in multiples of Rs 1000/. Corporates etc. Transfer of deposit  The deposit may be transferred from one branch to any other branch of Union Bank of India on the depositor making an application. only after the lock in period of 5 years.  In case of joint holder type of deposit. the deduction from income under section 80C of the Act shall be available only to the first holder of the deposit.thereof and maximum limited to Rs 100000/. Pledging of term deposit  The term deposit can be pledged to secure loan or as security to any other asset. Institutions. Types of term deposit  The deposit can be of Single holder type or Joint holder type. are not allowed to invest in this product. Firms. Permanent Account Number and Signature of the depositor.

with employee strength of minimum 15 and minimum net monthly salary disbursement not less than Rs.. Govt. Institution.Encashment on maturity  The maturity period of term deposit receipt of any denomination shall be minimum five years commencing from the date of the receipt and maximum being 10 years. Internet Banking (Union 41 . A penalty of 1% reduction in the applicable interest rate/ contract rate. No nomination shall be made in respect of a term deposit applied for and held by or on behalf of a minor. which ever is less.  Comprehensive Welcome Kit.  Minimum 15 employees should open account with us at entry level . Business Organisation. Senior Citizens will be eligible for additional interest as per the extant policy of the Bank Payment of Interest  The interest may be paid either in lump sum at the time of maturity or it may be paid every quarter or every month in accordance with the regulatory guidelines for payment of interest on the nature of term deposit chosen. etc. TDS will be applicable as per extant guidelines. Dept.1. Benefit Under Section 80 C  Exemption under section 80 C of Income Tax Act can be claimed by the depositor in case of single depositor or the first holder in case of joint depositors for a maximum amount of Rs100000/-. with in eligible investments. can open USSA with us. Union Super Salary Account USSA is a unique product packaged to suit the salaried class Sailent Features  Employees of any Corporate.  Net salary of an individual can be below Rs10000/-. containing International Debit Card. Tax liability on interest on the deposit  Interest on these deposits shall be liable to tax under the Income Tax Act. Rate of Interest  Rates of interest as applicable to general Term Deposits will apply. but the average monthly salary size of the employees of the Organisation should be Rs10000/. No term deposit shall be encashed before the expiry of five years from the date of its receipt. will be levied. Premature encashment  Any encashment/withdrawal of the term deposit after completion of 5 years and before the originally contracted maturity period will be treated as premature encashment. Nomination  Nomination can be made for the deposit as per extant guidelines applicable.50 lacs.or above.

 USSA holder can avail SMS Banking services for his account. 50. as under:ATM Banking Net Banking Phone Banking Branch Banking  USSA holder can use his Debit Card at over 1200 Union Bank ATMs at various locations in India. Phone Banking (Union Dial) PIN and Multicity Cheque Book. bearing VISA logo  USSA holder can transact through internet (Union e-Banking) from his place of residence/work or anywhere.  USSA holder can avail RTGS/NEFT/Intersol transfers absolutely free.000  Rs.00. recognized.free of cost . The Welcome Kit facilitates the USSA holder Any Where/Any Time Banking of his choice.e-Banking) PIN. by dialling the telephone numbers specified.  USSA holder can also access.free facilities are allowed in UCCA. subject to a ceiling of Rs 50000/-. free of cost.There are four kinds of AMB. for cash withdrawals in India.00. Comfort).000 Month for this purpose is rerckoned as the period from 16th of a calendar month to 15th of the next calendar month.  USSA Opens doors for a wide range of additional financial services. Demat. around 32000 ATMs of other Banks.. Mutual Funds. Union Bank of India reserves it’s right to change/alter/withdraw the terms and conditions of the scheme. globally. enjoy the benefits of phone banking (Union Dial). 5. such as Retail Loans (Home. Online Trading etc.for this purpose as follows:  Rs.  USSA can be opened with Zero Balance. Union Classic Current Account UCCA is the Premium Current Account Product suited for Traders and Business Class.000  Rs. any time.  USSA holder can also access over 1 million ATMs. is provided to the USSA holder at the time of opening. Insurance (life/non-life). which will be considered at the discretion of the Bank. Sailent Features Based on the previous month's Average Monthly Balance(AMB) maintained. subject to usual terms.000  Rs.  USSA holder can. 42 . 25.  USSA holder can use his multicity cheques for cash withdrawals/ payments at any Union Bank branch located in all prime centres in India.00. Vehicle. 1.  USSA holder can apply for an overdraft facility to the extent of 90% of the net salary credited in the previous month.

 Auto Roaming facilitating enhanced category status for customers.  Facilities including concessions through Any Account viz. 43 . clubbed together.  Increase in Net Profits  Benefits that can be derived by the customer are huge when compared to the interest sacrifice made by him for the AMB maintained in his UCCA. All the above facilities entail the following additional benefits to the UCCA holder:  Free Facilities Shrink Transaction Cost  Results in Efficient Fund Management.UCCA extends the following benefits to the account holder: Monthly Free Limits in Rs Lacs. SB/CD/CC/OD/PC and in Any UBI Branch. based on previous month’s AMB. * Union Bank of India reserves it’s right to change/alter/withdraw the terms and conditions/scheme/product.  Upfront entitlement for facilities.  Free Cash Deposit / Withdrawal up to specified limit  Cash Deposit facility in non-base branches subject to specified limit. for the facility. * AMB Rs 50000 250 Rs 100000 500 Rs 500000 750 Rs 2500000 No Ceiling * PO+DD+NEFT+RTGS+Intersol (other than cash deposit)+Standing Instructions+ Auto Sweep and Collection of Outstation Cheques.

RATES AND CHARGES • • • • • Domestic Term Deposit. RFC Deposit. NRE Deposit. FCNR (B) Deposit. OBU Deposit. 44 .

50 6. 1.NRE (w.50 5. Rs.f.2010) PERIOD Less than Rs.00 5.50 5.90 days 91 days < 6 Months 6 Months < 9 Months 9 Months < 1 Year 1 Year < 2 yrs 1.25 6.00 3.5 Crores Above Rs 5 Cr 07 .50 4.00 Crore to Rs .50 3.00 3.50 6.00 4.25 6.00 45 .50 1.45 days 46 .a. 01/03/2003) 3.04. 15 Lacs & above but 15 Lacs less than Rs 100 lacs Rs.50 3.50 3.) Savings Account (w.e f.00 4. 01/03/2003) 3.a.00 4.5 % Savings Account .50 1.00 5.50 1.e.50 3.Domestic Term Deposit Rate of Interest Type of Account Rate of Interest(% p.00 3.50 5.50 5.00 4.) (Effective from 05.5 % (% p.00 4.00 3.14 days 15 .

00 6. The interest rate on domestic term deposits of Rs.00 6.50 7.00 7.00 6.00 6. 46 .10 crs.00 First Heading  Please refer Instruction Circular No 8609 dated 03.00 7.00 6.04.00% to 6.25 7.50 6.25 7.2010 for further details.85% effective from 9th July 2010. and above for 12 months period is changed from 6.2 yr < 3 yrs 3 yrs < 5 yrs 5 yrs and above 7.

2010) OBU Deposit OBU Deposit (Effective from 1st July.72% 3.2010) MATURITY PERIOD RATE OF INTEREST 1 Year < 2 Years 2 Years < 3 Years 3 Years and above Saving Deposits 2. 2010) 47 . 2010) RFC Deposit RFC Deposit RFC Deposit (Effective from 1st July.92% 2.5% FCNR (B) Deposit FCNR(B) Deposit FCNR(B) Deposit (Effective from 1st July.NRE Deposit NRE Deposit NRE Term Deposit (Effective from 1st July.08% 3.

NRI BANKING • • • • • INVESTMENT PRODUCTS FEATURES OF VARIOUS DEPOSIT SCHEMES AVAILABLE TO NON-RESIDENT INDIANS (NRIS) DEPOSIT SCHEMES Remittances Products RETAIL PRODUCT 48 .

• NRI to furnish an undertaking to that effect that the applicant has no dealing / will not deal with any other branch / bank under PIS. 10 11 • Authorized branches will give one time permission. • PIS Transactions to be routed through a single Designated One Branch of One Bank authorized by RBI. • NRI to submit form NRI/NRC (Non-repatriation basis) or RPE/RPC (Repatriation basis) to designated Branches. 49 . 12 13 • Funds for Investments may be fresh remittances or from NRE / FCNR accounts maintained with the bank.INVESTMENT PRODUCTS PORTFOLIO INVESTMENT SCHEME: 1 2 3 4 5 6 7 8 9 • NRIs can Invest in Secondary Stock market in India through SEBI Registered Share Brokers. 14 15 • Transactions have to be on delivery basis. • NRI Investments on Repatriation / Non-Repatriation Basis is subject to ceiling prescribed from time to time. 16 17 • Sale proceeds / Income earned may be repatriated subject to payment of applicable taxes.

(individuals / entities of Bangladesh / Pakistan nationality / ownership as well as erstwhile OCBs require prior approval of RBI). Particulars Foreign Currency (NonResident) Account (Banks) Scheme (FCNR(B) Account) Term Deposit only Non-Resident (External)Rupee Account Scheme (NRE Account) Non-Resident Ordinary Rupee Account Scheme (NRO Account) Savings. Recurring. Euro. Repatriable Permitted Indian Rupees Repatriable Not repatriable except for the following in the account -1) Current income 2) Upto USD 1 Million per financial year (AprilMarch). Type of Account Period for fixed deposits Savings. Current. Fixed Deposit As applicable to resident accounts. Jap. US Dollar. 50 . Fixed Deposit At the discretion of the bank For terms not less than 1 year and not more than 5 years. forany bonafide purpose out of the balances in NRO account / sale proceeds of assets in India acquired by way of inheritance / legacy inclusive of assets acquired out of settlement subject to certain conditions. Yen. Canadian Dollar and Australian Dollar. Recurring. May be held jointly with residents Who open account can an Joint account Nomination Currency in which account is denominated Repatriability In the names of two or more non-resident individuals Permitted Pound Sterling.FEATURES OF VARIOUS DEPOSIT SCHEMES AVAILABLE TO NON-RESIDENT INDIANS (NRIS) Particulars Foreign Currency (NonResident) Account (Banks) Scheme (FCNR(B) Account) NRIs (individuals / entities of Bangladesh/ Pakistan Nationality/ownership require prior approval of RBI) Non-Resident (External)Rupee Account Scheme (NRE Account) NRIs (individuals / entities of Bangladesh / Pakistan nationality / ownership require prior approval of RBI) In the names of two or more non-resident individuals Permitted Indian Rupees Non-Resident Ordinary Rupee Account Scheme (NRO Account) Any person resident outside India (other than a person resident in Nepal and Bhutan). Current.

100 lakhs Permitted up to Rs. Permitted Permitted Loans : a. For further information pl. 5920 dt. 29. deduction of TDS is subject to DTAA with many countries. refer to IBD Circular letter no.100 lakhs Particulars Foreign Currency (NonResident) Account (Banks) Non-Resident (External)Rupee Account Non-Resident Ordinary Rupee Account 51 . TDS will be @ 33.10 lacs. for US dollar of corresponding maturities (plus 175 basis points as on date . In India: i) to the Account holder ii) to Third Parties Permitted up to Rs. Savings Bank Account Interest rate shall be at the rate applicable to domestic savings account with effect from close of business in India on 17-11-2005.05.100 lakhs Permitted up to Rs. Subject to cap : Fixed Deposits : LIBOR / SWAP rates.90% If the interest amount paid exceeds Rs.100 lakhs Permitted upto Rs.99% However. Banks are free to determine interest rates for term deposits. Particulars Foreign Currency (Non-Resident) Account (Banks) Scheme (FCNR(B) Account) Non-Resident (External)Rupee Account Scheme (NRE Account) Non-Resident Ordinary Rupee Account Scheme (NRO Account) Tax on Interest Income Not Taxable Not Taxable TDS on Interest earned on NRO deposits to be deducted at 30.Jan’09).08 Operations by Power of Attorney in favour of a resident by the non-resident account holder Operations on the account in terms of Power of Attorney is restricted to withdrawals for permissible local payments or remittance to the account holder himself through normal banking channels. as on the last working day of the previous month.Rate of Interest : Subject to cap : LIBOR / SWAP rates for the respective currency / corresponding maturities (Plus 100 basis points as on date -Jan’09).

Abroad : Not permitted. 52 . Foreign Permitted upto Rs. In India i) to Account holder the i) Personal purposes or for carrying on business activities. (Please refer to para 9 of Sch.1 to FEMA 5) ii) to Party Third Fund based and / or nonfund based facilities for personal purposes or for carrying on business activities *. * ii) Direct investment in India on non-repatriation basis by way of contribution to the capital of Indian firms / companies iii) Acquisition of flat / house in India for his own residential use. (Pl. 2 to FEMA 5) Non-Resident (External)Rupee Account Scheme (NRE Account) Non-Resident Ordinary Rupee Account Scheme (NRO Account) Personal requirement and / or business purpose * Purpose of Loan: a. * ii) Direct investment in India on non-repatriation basis by way of contribution to the capital of Indian firms / companies iii) Acquisition of flat / house in India for his own residential use. (Please refer to para 6(b) of Sch.Scheme (FCNR(B) Account) b. Fund based and / or non- Fund based and / or non-fund based facilities for personal purposes or for carrying on business activities *. 100 lacs. 2 to FEMA 5). Currency Not Permitted Loans in India: i) To Account holder ii) To Parties Third the Not Permitted Not Permitted Not Permitted Not Permitted Particulars Foreign Currency (NonResident) Account (Banks) Scheme (FCNR(B) Account) i) Personal purposes or for carrying on business activities. (Please refer to para 6(a) of Sch. 1 to FEMA 5) Fund based and / or non-fund Personal requirement and / or business purpose * b. refer to para 9 of Sch. Abroad: i) to Account holder ii) to Parties the Scheme (NRE Account) Permitted $ Permitted $ Scheme (NRO Account) Not Permitted Not Permitted Permitted $ Permitted $ Third $ Provided no funds are remitted to India and are used only in abroad c.

house rent income.503/5/96-FTD) dt.92 15 Country Armenia Notification No. 292/2004(F. The rupee interest rate varies between 3. The account can be opened jointly with another NRI or an Indian resident. for bonafide DEPOSIT SCHEMES Non Resident Ordinary Account (NRO): NRIs can opt for this account if they earn an income and incur expenses in India. 10 lacs. RBI has now allows up to one Million Dollar repatriation from this account in a financial year for specific purposes. can be credited to this account. However Sec. Details of rate at which the TDS should be levied vis-à-vis the relevant notification No.Resident on their resident fund. the TDS is levied @ 33.99% (on account of surcharge @ 10%). Australia 2. 195 of Income Tax Act to deduct tax at source in respect of interest income paid to Non.To the account holder and Third Party fund based facilities bonafide purposes.12.90%. The rate of tax deduction at source (TDS) from interest paid on deposit is specified in the Finance Act every year. for based facilities purposes. (Country wise Tax deductible as per DTAA is enclosed). the TDS on the interest paid on non-resident (ordinary) accounts attracts TDS @ 30.00% depending on the tenor of the deposit. etc.01.5% and 8. Period of Investment is Min. One can open and credit NRO account with Indian funds or with foreign exchange funds.04 % of TDS 10 . Tax is payable on the interest they earn on their bank balance subject to Double Tax Avoidance Agreement) DTAA. They can choose between opening savings. Taxation: 1 • Banks have obligation under Sec. of countries having Double Taxation Avoidance Agreement (DTAA) Sr. 08. Normally the balance in this a/c is not freely repatriable. of 10 years). In case of payment exceeds Rs. current or fixed deposit accounts.No. Dividend. 53 GSR 60(E) dt. 2 • Accordingly..No 1 1 1. 22. 15 days to max. 195 permits to deduct eax as applicable to Double Taxation Avoidance Agreement in case it is lower. However.

09. 24. 20.01. No.501/16/80-FTD) dt.2000 Not. 26.01.1999 GSR 853(E) dt. Canada 9.07. Czech Republic 12. 20.12.GSR.67 15 15 10 10 10 15 10 10 10 20 10 Hashmite Kingdom GSR 810(E) dt. 09.07. 08.94. France 1 15.650(E) dt.635(E) dt. GSR 205(E) dt. 06.03.10671 (F. 31. GSR 632(E) dt.95 GSR 805(E) dt. 19.03.04.09.92 GSR 331(E) dt.05.89 GSR 786(E) dt. Greece 17. of Jordhan 54 . No. No. Cyprus 11.6. Germany 1 1 1 16.1992 GSR 392(E) dt. GSR 682(E) dt. No.501/16/80-FTD) dt.05.08.Austria 1 1 1 1 1 3.10.11. as amended by Not.1995 GSR 811(E) dt.S0836(E) dt.11. 29.98 Bulgaria 1 1 1 1 1 1 1 8. 17. 13.01 10 10 10 15 15 Bangladesh GSR 758(E) dt. China 10.84 amended by Not.98 original Not. No. 10.S0 54(E) dt.No. 15. 25. Denmark 13. 31.12. Belarus 5.GSR 394 dt. 08.96 SO 28(E) dt. No.01 GSR 381(E) dt.92 4. No. 08.97(1) as amended by Not.SO.09.96 Not. Belgium 6. Finland 14. Brazil 7.09.12.99 18.98 9602 (F. 17.

SO 761(E) dt.SO 753(E) dt. 26.06. 05.05 19/2008 dt. Kazakastan 1 1 1 1 26. 25. 31.02.504/3/2004-FTD-1) GSR 77(E) dt.04.2002 GSR 189(E) dt.503/6/99-FTD) dt.02.12. Korea 28.Hungary 1 1 1 1 1 1 1 19.45/2002 (F.97 GSR 665(E) dt.No. No.96 Not. NO.920(E) dt. Indonesia 21.01 GSR 22(E) dt.75(E) dt. Japan 25.86 as amended by GSR 986(E) dt. 277/2007 FTD) Not.07.186/2006 dt. No.GSR.1980 10 10 10 10 10 15 10 10 15 15 10 10 20 10 10 20 55 .10.03. 06.02.04 No.85 GSR 111(E) dt.90 SO 2000(E) (Notification No. No.No.08. 01.90 amended by Not. 16. 07.500/68/95-FTD) dt. Israel 22.03.1988 GSR 256(E) dt. 20. Iceland 20. Kuwait 29.1982 GSR 667 (E) dt.1995 GSR No.11. 20. 127/2005 (F.06 GSR 633(E) dt. Malta 33. Kyrgyz Republic Libya 1 1 1 1 31.02.2000 amended Not. Ireland 23.09. 19.07. 22. 12.96 GSR 101(E) dt. 04. Mauritius 34.08 (F/No. 01. Malaysia 32. Itlay 24.12. 31. 20. 26.10. Kenya 27.08.

05 (F. New Zeland 40.Mongolia 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 35. Saudi Arabia 49.94 – amended by Not.9. 23. 27.08. Netherlands 39. No.2000 GSR 96(E) dt.99 GSR 1146(E) dt.07. Norway 41.09. 25.90 GSR 542(E) dt.88 GSR 382(E) dt. No. No. Singapore 50.SO 693(E) dt.2000 GSR 196(E) dt. 30. 08.2.1989 amended by Not.03.501/6/92-FTD) 21. 15. Namibia 37.02. Philippines 43. Romania 47.2000 corrected vide Not.2. S0.635(E) dt.3.08.09.99 GSR 314(E) dt.10.12.No. 08. 8.4.03. 12. 17.08.96 GSR.500/139/2002-FTD) 15 10 10 15 10 10 15 10 15 15 10 10 15 10 10 15 56 .No. Poland 44. Nepal 38. Protuguese 45.06.96 GSP 72(E) dt.185/2005 dt. Oman 42.99 GSP 756(E) dt.88 10677(F. 09. Republic Qatar 46. 27.No.98 Not. Morocco 36. 16.2006 GSR 610(E) dt.SO 673(E) dt.3. Russia 48. 30. 08.1989 amended by Not.2000 GSR 80(E) dt.97 GSR 173(E) dt. 245(E) dt.501/7/91/-FTD) dt.287/2006-FTD (F. 05.87 SO 563(E) dt.8. No. 16. 18.08.SO 693(E) dt. 2. No.

21.50 20 10 57 .99 SO 74(E) dt. 16.92 GSR 357(E) dt.02.No. GSR 508z(E) dt. 31.50 20 10 15 10 12. UAE 64. Uganda 66.98 GSR 356(E) dt.95 amended by Not. No. Sudan 55.4. 25. Trinidad 61.60 GSR 666(E) dt. 27.97 GSR 710 (E) dt. Sweden 56. Turkmenistan 63.86 & GSR 720(E) dt.81 GSR 915(E) dt.09. 17.05.501/4/92-FTD) dt. 26.No.11.85 GSR 559(E) dt.04 GSR 705(E) dt.93 GSR 2363 dt.04 7. Swiss 57.4. Confedration 157/2005 (F.GSP.501/1/97-FTD) dt.2005 GSR 198 (E) dt. 25.12.6.09.95 GSR 342 (E) dt.02.10. 19. 12.11.74(E) dt.1983 271/2004 (F. 18. Tobago Turkey 62.01 10 10 15 10 10 10 10 Syria 1 1 1 1 1 1 1 1 1 58.10.04. 03. Tanzania 59. Sri Lanka 54. Spain 53. UAR (Egypt) 65.04. 21.97 GSR 567 (E) dt. 30.5 12.Slovenia 1 1 1 1 1 1 1 51. 21. Thailand 60. 1.10. South Africa 52. 07.6.

4. USA 69. or by deposit of foreign exchange brought into India during a visit. 20.09.02 GSR 990(E) dt.U. Foreign Currency Non Resident (FCNR): The FCNR account is meant for those who wish to hold the deposit in a foreign currency of their choice. Loans against deposits are available subject to a ceiling of Rs. The entire balance in the NRE account can be repatriated outside India at any time without any reference to the RBI. The advantage 58 . Uzbekistan 70.94 GSR 24(E) dt.95 GSR 39 (E) dt. In other words a resident cannot be a joint account holder in a NRE account.K.9860 (F.90 SO 790(E) dt.96 GSR 369(E) dt. Vietnam 71.1. 12. 20lacs to both the depositor and the third parties.503/7/FTD) dt. However the NRIs can authorize an Indian resident to operate their NRE account and make payments in India by giving him a power of attorney. 1 1 1 1 1 1 67. For our bank it is Rs.500/= for accounts without cheque book and Rs. Zambia 72. 28. No. 13. Euro and Australian Dollar. Japanese Yen. Permission of the Reserve Bank of India (RBI) is not necessary.02. The minimum amount for opening a NRE accounts varies from banks to bank. The minimum period for a fixed deposit is 12 months and the maximum period normally is 10 years.84 15 10 15 15 10 10 Non Resident External Account (NRE): This is a repatriable rupee account. The interest rate on this deposit is governed by RBI guidelines and at present term deposit attracts interest rates equivalent to LIBOR rates plus 175 bps. pound sterling.01.e 3. However.11.12. The account can be opened jointly with another non-resident Indian only. Withdrawals for payments in India or payments abroad in any convertible currency are freely allowed. 11.000/= for accounts with cheque book. The current options are the US dollar. Interest earned under this scheme is exempt from Indian income tax.01. Ukraine 68. 11. 18.No. NRIs can opt for either a savings NRE account or a fixed deposit account or a current account.95 ameded by Not. GSR 91(E) dt.5%. if we opt for NRE Savings account the interest is equal to the interest rates offered to a domestic Savings Bank account i. The NRE account can be opened or credited with remittances from abroad transfers from existing NRE/ FCNR accounts.

FCNR deposits at present attract interest rate of LIBOR plus 100 basis Points. The account can be opened by transferring funds from abroad or from your existing NRE/FCNR accounts.of this account is that one need not to worry about Exchange rate fluctuations. Loans against the deposits are available in India both to the depositor and third parties at the request of the depositors. Resident Foreign Currency (RFC) : 59 . Banks also provides Loan against this deposit in Foreign Currencies also to the depositors only. The minimum amount for opening the FCNR account differs from bank to bank. NRIs can choose between tenure of 1year to 5 years. This interest is also freely repatriable. The FCNR deposit can be opened jointly with a non-resident Indians only.

000/ .for a fixed maturity period. WHO CAN OPEN AN ACOUNT All individuals. To put it simply. have the best of both worlds! And. PERIOD OF DEPOSIT The Fixed period will vary between 46 days to 5 years. RATE OF INTEREST As applicable to Savings Bank Deposit and Fixed Deposit in force from time to time. Si At d itt ditd ill b dd 60 .000/. What’s more.000/-.000/. STATEMENT OF ACCOUNT Statement of Account will be issued to the depositor wherein all the details of Fixed Deposits.this scheme is also open to Non-Resident Indians who are eligible to open an account as per or existing rules and regulations.as a Term Deposit(Fixed Deposit). singly or jointly who are eligible to open Savings A/C. SALIENT FEATURES PURPOSE This all-new Deposit Scheme has integrated features of the Savings Deposit and Fixed Deposit. namely liquidity with higher interest returns on surplus funds.000/.000/.In case of NRI Deposit.NRIs returning permanently after a continuous stay of minimum one-year UNION FLEXI-DEPOSIT Now. you get the convenience of a free ATM Card. A Minimum of Rs 5. with UBI’s Flexi Deposit Scheme you can just sit back and relax. HOW DOES THE SCHEME WORK The depositor opens a Savings Bank Account with a minimum amount of Rs 10.000. while you enjoy the high returns of a Fixed Deposit in your regular Savings Account. minimum period will be one year. Whenever the outstanding balance in Savings Bank Account goes below the stipulated amount the gap will be bridged by transfer of required funds from depositor’s Fixed Deposit Account in multiples of Rs 1.with a minimum of Rs 5.as a Savings Bank Account. Interest will be paid on a quarterly on the Fixed Deposit account. AMOUNT OF DEPOSIT A minimum Rs 10.and will issue standing instructions to UBI to maintain a certain predetermined balance through out the tenure of the account and to transfer the surplus funds over and above the said limit to a Fixed Deposit Account in multiples of Rs 5. increased in multiples of Rs 5.

So also.p. Nomination facility is available. IMPORTANT FEATURES OF THE SCHEME ELIGIBILITY Non Resident Indians of Indian nationality or origin. any income from assets which one continue to maintain abroad. the interest on your deposit will be exempt from tax.Funds held in a RFC account can be remitted abroad freely without the RBI's approval. the NRI depositor is entitled to interest at the rate applicable for the period the deposit has actually run. if an NRI needs funds. OTHER FEATURES Free credit card to depositors who maintains a minimum balance of Rs. Roll over of deposit on maturity is permitted. The money held in NRE/FCNR accounts and other foreign exchange funds brought in at the time of return can be freely invested in RFC deposits. Unfixed Deposit Scheme was introduced. 1. The funds can also be withdrawn in rupees to meet payments in India. A penalty of Rs 25/. 3 • Premature closure of deposit entails loss of interest on the entire deposit. the balance in their RFC account can be converted to an NRE/FCNR account. no interest is payable on the entire deposit. which facilitates withdrawal in units of deposits without affecting interest due on subsisting (continuing) deposit. a international debit card will be issued free of cost to all deposit holders under this scheme if requested for at the time of opening of the account. 2 • To close the deposit before maturity. he has the following options: 1 • To raise a loan against pledge of deposit @ 2% ODR or at interest rate stipulated from time to time. As long as one maintains the status of 'Resident but not Ordinarily Resident'. subject to penalty of 0. UNION BANK UNFIXED DEPOSIT SCHEME FOR NRIs Under present NRE deposit scheme. 4 • If deposit has run for a period of 12 months or more.00 lac. Both the above options involve a cost to the depositor either in the form of interest payable on loan or loss of interest on deposit. To mitigate these difficulties.25%. No loan / overdraft / lien will be sanctioned / permitted against FDR held under this Scheme. If one subsequently goes abroad to become an NRI. If the deposit has not run for minimum maturity period of 12 months. The Bank shall issue no separate Deposit Receipt. Savings Account and interest credited will be recorded. 61 .m will be levied in case of non-maintenance of minimum balance in the Saving Account and / or in Fixed Deposit A/C is reduced below the minimum level of predetermined sum. In selected cities.

PERIOD OF DEPOSIT : Minimum 12 months. 4 • Maturity proceeds (both principal + Interest) can be repatriated.000/each. In case of FCNR (B) deposit though depositor is guaranteed against adverse fluctuation of exchange rates. Every unit will be treated as a separate deposit. 62 . Details of units will be mentioned on the face of the deposit receipt. 24 months & 36 months. Union Smart Deposit Schemes: UNION SMART FOREIGN CURRENCY SCHEME 1 • Mostly NRIs place their repatriable funds in the following term deposits with the banks either in Indian Rupees or in Foreign Currency with certain objectives. Maximum 36 months with following maturities: 12 months. 5. interest rates are comparatively low. Therefore. However. as a better investment option for NRIs which not only ensures better returns but also insulate / mitigate exchange rate risk. 2 • Protects against exchange loss. Advantages of the Scheme: 1 • Earn higher returns as compared to FCNR (B) deposit. 3 • FCNR (B) Term Deposit – To safe guard themselves from exchange rate risk. RATE OF INTEREST: Interest Rates applicable on NRE Term Deposits will be paid on deposits accepted under Unfixed Deposit Scheme. 5 • Modalities of the Scheme Who can open the account: Non-Resident Indians of Indian Nationality / Origin (NRI/PIO) Purpose: To enable the NRIs to maximize the yield of the Foreign Currency Resources / funds. we have devised a new deposit scheme in the name and style of Union Smart Foreign Currency Scheme. both these schemes have inherent disadvantages. 5. In case of NRE Rupee Term Deposit the depositor is exposed to possible exchange rate fluctuations though returns are comparatively higher. 3 • Interest earned is totally free from Indian Income Tax (as per existing norms).or more in multiples of Rs.000/Deposits under the scheme will be sub-divided into units of Rs. 2 • NRE Rupee Term Deposits – To avail of comparatively higher rate of interest.000/.AMOUNT OF DEPOSIT Minimum Rs. It is also possible that any advantage in rate of interest can be wiped out due to depreciation of rupee at the time of repatriation. Period of Deposit: Period of deposit will be for 12 months. 10.

Joint Accounts. Interest application etc are the same as applicable to NRE Term Deposits. 4 • Premature withdrawal of the deposit will not be permitted. UNION SMART RUPEE DEPOSIT SCHEME INTRODUCTION: With the introduction of LIBOR related interest rate payable on NRE deposits the Union Smart Foreign Currency scheme is not attractive to the depositors. Other Conditions: The Deposit should be placed under NRE-DRC Scheme only to avail maximum benefit under this scheme. Other Conditions The Deposit should be placed under FCNR (B) Scheme only. Since LIBOR rates are on the upward trend and forward premium is also looking up we have devised a new scheme for NRIs in the name of “UNION SMART RUPEE DEPOSIT SCHEME”. gains. However. made by the bank on account of cancellation of forward contract will not be passed on to the depositor. Nominations. Period of Deposit 1 year. if premature withdrawal is permitted then the depositor will be required to bear the losses both by way of penalty for premature closure and on account of cancellation of forward contract in addition to other charges / fees incurred by the bank. [The scheme will be beneficial as long as interest offered on FCNR (B) deposit plus forward premium is more than the interest payable on NRE Rupee deposits for the corresponding maturity period] The broad features of the scheme are given below: Who can open the account Non-Resident Indians of Indian Nationality/Origin (NRI/PIO) Purpose To enable the NRIs to maximize the yield on the Rupee Deposits. Additions / Deletions of names. 1 • All rules relating to NRI deposits viz. Rate of Interest As applicable to FCNR (B) – Term deposit. if any. 2 • No premature extension is permitted. Under exceptional circumstances (to be decided by the branch head). 63 . 3 • No credit facility or loan/overdraft is permitted.Rate of Interest As applicable to NRE Term deposit.

Interest application etc are the same as applicable to FCNR (B) Term Deposits. • Premature withdrawal of the deposit will not be permitted. made by the bank on account of cancellation of forward contract will not be passed on to the depositor. gains. 64 . Nominations. However.1 2 3 • All rules relating to NRI deposits viz Joint Accounts. Addition/Deletion of names. if premature withdrawal is permitted then the depositor will be required to bear the losses both by way of penalty for premature closure and on account of cancellation of forward contract in addition to other charges/fees incurred by the bank. • No premature extension is permitted. if any. Under exceptional circumstances (to be decided by the branch head).

Such account should not be designated as Non-resident (Ordinary) Rupee Account (NRO). The regulations relating to the various deposit schemes available to Non Resident Indians have been notified vide Notification no. Self : 2% ODR 2 b. 2000. b. ADs may open and maintain Rupee accounts for a person resident in Nepal / Bhutan. Loan against FCNR Deposits (Rupee) : a. 2000. FEMA. Self & Third Parties : 1% below BPLR 3. (Refer IC 8295 dated 17th April.in and may please be referred to for full details. Interest earned in NRE / FCNR (B) accounts can be remitted only in Indian rupees to NRIs and PIO resident in Nepal and Bhutan. Foreign Currency Loan : a.Particulars Foreign Currency (NonResident) Account (Banks) Scheme (FCNR(B) Account) Non-Resident (External)Rupee Account Scheme (NRE Account) Non-Resident Ordinary Rupee Account Scheme (NRO Account) Interest on Loan against Deposits: (W. as amended from time to time.F. Loan against NRO / NRE Deposits: a. Note : a.FEMA. 2009) * The loans cannot be utilised for the purpose of re-lending or for carrying on agriculture or plantation activities or for investment in real estate business. his existing account will continue as a resident account.04. 01. Otherwise 1% over BPLR. Only for Self : 2% ODR or 2% over LIBOR whichever is higher.org. ADs may open and maintain NRE / FCNR (B) Accounts of persons resident in Nepal and Bhutan who are citizens of India or of Indian origin. c. When a person resident in India leaves India for Nepal and Bhutan for taking up employment or for carrying on business or vocation or for any other purpose indicating his intention to stay in Nepal and Bhutan for an uncertain period.5/2000-RB dated May 3. In terms of Regulation 4(4) of the Notification No. The relevant notification and A P (DIR Series) Circulars have been placed in RBI website www. Third Parties : As per rating for Working Capital Facilities if any.2009) 1 1 1. of 2%ODR 3 1 4 1 2. Remittances Products .rbi. provided the funds for opening these accounts are remitted in free foreign exchange. subject to min.5 dated 03rd May.E.

Tel. • Scope to retain the remittances sent as deposits in our fold. • These accounts give us substantial float funds. 00974 4383222 . 3 • Process now Centralized (CCC) at Overseas Branch. 8 • For amount exceeding USD 500/= value dated credit after observing cooling off period.No. Cooling off period is as under: Cheques in USD drawn on New York Cheques in USD drawn on any other centers of USA # Cheques in USD drawn on Banks in other countries. Mumbai since De. 7 days of sighting the credit 15 days of sighting the credit. • RBI stipulates Internal Control System (ICS) to have effective supervision on RDA accounts. who is maintaining operative account with us for a minimum period of six months. # Charges for collection in this case will be high and the realization time will be about 30 days. 4 • Instant credit up to USD 500/= (on sighting credit in Nostro a/c) without observing prescribed cooling off period for the existing customers as under: 5 • Existing customer is one.Traditional products: Cheque Collection through Cash Letter system: 1 • Foreign Cheques from ‘C’ Category branches normally routed through nearest ‘B’ Category Branches for Collection / Purchase.No. 2 • Cash Letter System followed for collection and credit. 6 • Facility available only to our SB account customers. 7 • Facility available only for personal transactions & not for any business purpose / transaction. ‘2006. Rupee Drawing Arrangements: 1 2 3 4 5 • Arrangements with 20 Exchange Houses • These Exchange Houses maintains Rupee a/c with our VOSTRO Branch. List of Exchange Houses with whom we have tie up arrangements: Country Sultanate of Oman 2 3 Doha-Qatar 5 Sr.LLC. 00968 24750830 Habib Qatar International Exchange 00974 4424373 / 4328853 / 4424035 Gulf Exchange Co. 1 Name of the EH & Address Modern Exchange Co. On realization from Nostro Bank. 9 • Subsequent return of cheque will be recovered through debit of account along with exchange & applicable charges. 10 • SB interest will be paid on any delay in crediting the proceeds beyond value date. 00968 24832133 4 Oman International Exchange LLC 00968 24832197 / 24830893 Oman & UAE Exchange 00968 24796533.

Fastest credit to beneficiary. •USA / UK (TOML): Hassle free online and convenient remittance facility from USA and UK in partnership with Times of Money Ltd.6 Dubai 8 9 10 Kuwait 12 13 14 Abu Dhabi 16 17 18 Bahrain 20 7 Al Dar For Exchange Works Wall Street Exchange Redha Al-Ansari Exchange Est. Hassle free. Exchange Houses to maintain separate accounts at VOSTRO Br. 845 UAE Exchange Centre LLC Lari Exchange 00971 2 6223225 / 00971 2 6222282 Al Ahalia Money Exchange Bureau 00971 2 6270004 (PROPOSED) Zenj Exchange Co. Extn: 440 11 City International Exchange Al Muzaini Exchange UAE Exchange Centre Dollarco Exchange 15 Al Ansari Exchange 00965 2459417 / 2459418 00965 2412767 / 2454713 00971 2 6108845 / 6108888 ext. Al Mona Exchange Company Al Rostamani Int'l Exchange Co.WLL. Bahrain Financing Company (PROPOSED) 00973 17224352 00973 17506103 / 00973 39694115 19 E.) Through DD / PO wherever RTGS / NEFT is not available. Convenient Minimal transaction charges.Remit Scheme: Web based remittance product for NRIs No or minimal paper work Eliminate the risk of transit loss of instrument. VOSTRO Branch download the files twice in a day 11a. (TOML).) RTGS / NEFT to other bank’s customers (Time taken < 24 Hrs. Exchange houses key in and upload the file to VOSTRO Branch. (PROPOSED) 00974 4550455 00971 4 2284889 00971 4 2296666 /00971 4 2296669 00971 4 2260500 / 00971 4 2261665 00971 4 6098100 00965 2448507 / 2441845 / 2441846 00965 2426551 (D) 00965 246113539. Process:- . AVAILABLE for USA and UK Gulf Countries Gulf (Speed Remittances): Our own software installed in Exchange Houses.m / 6p.m. On line credit to all Branches (Time taken < 24 Hrs.

• The beneficiaries need to have a bank account with any bank in India. • All transaction booked by various remitter is uploaded by TOML is send in the evening to Vostro Branch.unionbankofindia. We pick up the credit immediately. • The system generate a RTRN number and provide our Nostro details of Dutsche Bank where the customer has to send credit of GBP funds through his bank’s Internet Banking platform.in and get 2 3 4 5 6 1 him/herself registered for the service by providing • Bank Details for Debit • Personal Details like Social Security Number (SSN) • Selecting his own User ID • Selecting his own Password • Bank does online verification of registration immediately. For this he has to book a transaction in our website. once the amount is matched the registration process is over. • Remitter register himself in the website by selecting “county” as UK as per process explained above. • Entire process can be done in 1 or 2 days. • We send small amount of USD (less than USD1) as credit and debit to the bank account of the customer through Automated Clearing House (ACH) mechanism to ascertain authenticity of bank detail. • Remitters provides the RTRN number as reference in the transaction initiated in his Internet Banking. • After which the remitter is allowed to send remittance. 2 3 4 5 6 7 8 UK: 1 2 3 4 5 . which is confirmed by Vostro Branch to Bank of New York (BoNY) • BoNY sends Debit by Automated Clearing House (ACH) mechanism. convert to Rupee at the rate prevalent on the day and credit to beneficiary account with us or through RTGS to other bank or issue DD.co. Customer verifies his details from his bank account and confirms. We receive the clear credit by ACH mechanism on 4th day in our Nostro account. where the customer can click and go to his bank’s Internet banking page and complete the transaction. • Once the registration process is completed successfully the customer can send remittance to any beneficiary in India. • Book a transaction by giving beneficiary details. The system generates a Remittance Transaction Reference Number (RTRN) for each remittance. • After this we send email to the customer in his registered e-mail ID to confirm the debit and credit amount in his bank account. • The link for various bank’s website in UK is provided in our website.USA: 1 • Remitter has to log on to http://www.

6 • Our nostro account receives clear credit on 4th day. Amount is disposed of as above. The amount is sighted in our nostro account and reported to Treasury for Exchange Rate. .

Purchase/ construction of 2nd house/flat anywhere in India. Transaction Charges: GBP / USD 50 – 500 501 . • Bank account in GBP in UK. 3. • Online tracking of remittance by RTRN. . 4. 5.  NRI employees working in Air India/Indian Airline offices and posted in foreign countries.Advantage:1 2 3 4 5 • Online remittance through Internet. • Help available by e-mail and Toll free number (from USA only) Requirements: 1 2 3 • Social Security Number of remitter. Repairs/ Renovation to existing house anywhere in India.1000 Above Charges in GBP/USD 3 5 Free RETAIL PRODUCT Union Paradise ELIGIBILITY 1 2 3  NRI employees working in Indian Embassy/ Consulate Offices in other countries. Repayment of loan availed from other agency/Bank/ NBFC. Purchase/ Construction of house/ bunglows/ flat anywhere in India. 2. • Bank account in USD in a USA bank. Customers can transfer up to USD2.  NRI employees working in Shipping Companies and posted abroad. • No Paper work involved. PURPOSE 1 2 3 4 5 1. with a cap of 12 transactions in a calendar year. 4  NRI employees working in different MNCs and posted abroad.500/= or its equivalent per transaction. Extension of existing house anywhere in India. • Simple registration process.

1  80% of the cost subject to a Maximum of Rs 100 lacs including cost of house/flat. stamp duty. SECURITY To be secured by EM/SM.20% (IC no. For Repairs/ Improvement 1  70% of the cost of repairs/improvement subject to Maximum of Rs 15 lacs.25% For Purchase of old house old above 15 years up to 25 years .NATURE OF FACILITY Term Loan QUANTUM For Purchase/construction of new house/flat. BPLR – 12. registration fees. interest should be recovered separately every month.30% PROCESSING CHARGES 0.50%) As applicable in Normal Housing Loan.5% of the Loan amount. MARGIN For Purchase/Construction of New House . cost of furnishing. 7334 dated 06.2006) For Repairs/Renovation . RATE OF INTEREST (w. GUARANTEE . if any etc.30% For Purchase of old house old up to 15 years .03. transfer fees.e.f 8-12-2008. Interest will be applied in the account on the basis of daily reducing balance method at monthly rests. During moratorium period. For Repayment of loan availed from other Agencies/Bank/NBFC 1  80% of the value of the property or loan outstanding whichever is less.

One or two guarantees of adequate means from Indian Residents. Spouse should be taken as guarantor. REPAYMENT

1 For Construction/ Purchase of House - 15 years, max.  2 Including moratorium period of 18 months from the date of disbursal or till completion of the
house, whichever is earlier.

3 For Repairs/ Renovations - 10 years, max.
Insurance The property should be got insured against fire, allied perils, earthquakes and Personal Accident (death). Disbursement By way of DD/PO made and payable in India directly in favour of the builder/ contractor. In case of construction, disbursement to be linked to the progress in construction. Documents to be obtained along with application form 1 1. Employment Contract (if the contract is in any language other than English, the same has to be translated into English and attested by employer/ Indian Embassy). 2. Certified copies of the latest salary slips for the past six months. 1 1 1 1 1 1 3. Identity card issued by the current employer.

1

4. Continuous Discharge certificate, if applicable. 5. Latest work Permit. 6. Copy of Visa stamped on the passport. 7. Photocopies of NRE bank account (pass-book sheets) for last six months. 8. Bio-data covering educational qualifications, age, job experience, nature of profession/ business etc. with necessary proof. 9. In addition to the above documents, the applicants should also submit the documents relating to the house/ flat proposed to be purchased/ repaired.

1

Security Documents

1 1

Demand Promissory notes

Housing Loan agreement

1

Simple/ Equitable mortgage of house through P.A to be attested by Embassy Officials.

1

Letter of Guarantee.

1

Power of attorney in favour of joint borrower in India for the purpose of creation of EM of property in India wherever applicable. Other Terms & Conditions 1 I. As far as possible documents to be executed in India only.

1

II. Documentation and subsequent disputes if any would be subject to Indian Jurisdiction.

1

III. Legal Opinion/ Valuation certificate etc. be obtained before disbursement of loan.

1

IV. House plan approved by competent authority be obtained.

1 V. As the applicants are based abroad, they may apply for loan on-line/internet by downloading the application form from our Website or else, they may apply on their visit to India.

1

VI. The loan amount shall not be credited to NRE/FCNR account of the borrower.

1 VII. The loan shall be repaid by remittance from outside India through normal banking channels or out of funds in his NRE/FCNR/NRO account in India or out of rental income derived from renting out the property acquired by utilization of the loan. 2 VIII. Take-Home pay/ income after considering the propose EMI should not be less than 40%

1

of Gross pay/income. If Documents Are Executed Abroad

1

The documents can be executed in foreign counties duly attested by Consulate General of India in respective counties. The stamping of documents should be completed as soon as it reaches India immediately within 30 days as required under Stamp Act.

2

Whenever borrower comes to India, he should execute a letter of confirmation/ ratification.

Turn around time to be maintained seven days (2+5) on receiving the complete papers.

TOOL USED
• • • • • In research both primary and secondary data were used. Sampling Element: Employees of Union Bank Of India at C – 4,Community Centre,S.D.A Market, New Delhi office Sampling Methodology: The probability-based approach of random sampling was adopted, in order to give adequate coverage to all possible types of employees. Sample Size: A sample size of 15 employees Sampling Extent: The procedure of sampling was restricted to the Union Bank Of India. SDA Branch, New Delhi

➢The registers are maintained in a well organized manner. ➢The bank always tries to attract customers with innovative offers. ➢The registers and files are maintained on a daily basis in the computer system. ➢The marketing strategy of the bank is very attractive. ➢The limit of cash vault is Rs.FINDINGS It was found from the study that bank believes in quality service as well as quantity service: ➢The officials employed are very much enthusiastic about their job. ➢The officials try to make best relation with the customers. 00. 30.000 for a day. ➢The bank is very keen to implement 5’s plan in all its branch .

They are focused on quality of products and services rather than quantity of products and services. The banking sector in India is demonstrating this and I do hope they would continue to chart in this traded path. Banks now need to use retail as a growth trigger. innovation and business process reengineering. However. In bracing for tomorrow. micro-planning. in all these customers’ interest is of paramount importance. cost reduction and cross-selling. This requires product development and differentiation. The bank provides speedy way of services to its customer with satisfaction. the challenges are equally daunting. technological Upgradation. .CONCLUSION UNION Bank has strong banking operations. the kind of technology used and the efficiency of operations would provide the much needed competitive edge for success in retail banking business. They have a aggressive marketing strategy. How far the retail banking is able to lead growth of the banking industry in future would depend upon the capacity building of the banks to meet the challenges and make use of the opportunities profitably. There is a need of constant innovation in retail banking. The Five S plan really helps in the operation of the organization. marketing. The quality policy of the bank is “The branch is committed to the bank of first choice is commercial banking with lasting customer relationship through continual improvement in service. Furthermore. prudent pricing. home / electronic / mobile banking. The bank is rapidly growing. They have a strong banking solution such as FINACLE which was developed by Infosys. a paradigm shift in bank financing through innovative products and mechanisms involving constant upgradation and revalidation of the banks’ internal systems and processes is called for. customization. While retail banking offers phenomenal opportunities for growth. They believe in customer satisfaction in every possible way.

REFERENCES & BIBLIOGRAPHY • • • • • www.wikipedia.SDA .com www.New Delhi.com Personal observation.org www. Help from staff members of Union Bank Of India.unionbankofindia. .google.

ANNEXURE NAME: COMPANY: DESIGNATION: DEPARTMENT: How many years have you been associated with the organization? 1-4 years  5-10 years  10 years & more  Are you satisfied with your present job profile? Yes  No.  Please rank the factors as to how they initiate you to perform well (on a scale of 1 to 5) for the following: 5 High Involvement 1 Low Involvement Job satisfaction Opportunity to perform well at challenging work Recognition and positive feedback for one’s contributions Personal support from one’s supervisor Effort above and beyond the minimum Understanding the link between one’s job and the organization’s mission Co-Employees Assigned Work Available Opportunities Policies & Procedures Compensation & rewards Work Life Balance Any other___________________________________________________ re you satisfied with the initiatives taken by the organization? Yes ⃞ No ⃞ Give reasons _____________________________________________________________________________________________ _______________________________________________________________ .

 Give reasons: ______________________________________________________________________________ Does your company involve you in decision making of the organization ? Yes ⃞ No ⃞ What kind of decision making Does the organization take your suggestion in bringing any changes in the training module? Yes ⃞ No ⃞ Which all suggestions were provided by you _____________________________________________________________________________ Do you know what is expected of you at work? _____________________________________________________________________________________________ _______________________________________________________________ Do you have the materials and equipment you need to do your work right? _____________________________________________________________________________________________ _______________________________________________________________ At work. do your opinions seem to count? _____________________________________________________________________________________________ _______________________________________________________________ Does the mission/purpose of your company make you feel your job is important? _____________________________________________________________________________________________ _______________________________________________________________ Are your associates (fellow employees) committed to doing quality work? ______________________________________________________________________________ Do you have a best friend at work? ______________________________________________________________________________ In the last six months. seem to care about you as a person? _____________________________________________________________________________________________ _______________________________________________________________Is there someone at work who encourages your development? _____________________________________________________________________________________________ _______________________________________________________________ At work.Would you like your organization to introduce some new procedures so as to make staff more engaged in their jobs? Yes  No. have you had opportunities at work to learn and grow? . has someone at work talked to you about your progress? In the last year. or someone at work. do you have the opportunity to do what you do best every day? _____________________________________________________________________________________________ _______________________________________________________________ In the last seven days. have you received recognition or praise for doing good work? _____________________________________________________________________________________________ _______________________________________________________________ Does your supervisor.

 Please Specify ______________________________________________________________________________ Does the company provide you incentives? Yes  No.  Give reasons ______________________________________________________________________________ Would you like your organization to introduce some new procedures so as to make you more involved in your job? Yes  No. _____________________________________________________________________________________________ ___________________________ Does your company appreciate your work? Yes  No.______________________________________________________________________________ List two schemes at your organization aimed at engaging employees.  Please Specify ______________________________________________________________________________ Your involvement in your job leads to higher individual productivity? Yes  No.  On what grounds ______________________________________________________________________________ It is true that higher the employee engagement. better the organization's performance? Yes  No.  .

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