In 1950, united bank of India formally become united bank of India Ltd. and in 1969 bank get the tag of a nationalized bank. In current time united bank of India is leading bank of our country as the bank is offering service to customers through its 175 branches and 40 regional offices. Some urban and rural cities are the main target of banks services and products as in these areas customers are getting best possible financial support and advice from bank officials. It is known that UBI avails multiple financial service and products like credit card, personal loan, home loan and other that too in minimum charges. A customer who works with small corporate or enterprise can get maximum benefits through the UBI credit card, as all falls under MSME section and user can borrow amount against the credit they have earned through respective card.
a. Group of Artisans who have joined to form Self Help Groups will be eligible to apply for this card.
b. An individual who is taking benefits from other loan schemes of government then respective benefits cannot be applied for this card.
c. Any artisans involved with manufacturing and production process can apply for this card.
d. If an individual is registered with the Development Commissioner for Handicrafts then will be eligible for this card.
e. An artisan whose credit limit is INR 2 lakhs maximum and individual is borrowing through that then the bank can issue cards.
a. Existing borrowers under village industries, cottage and tiny industries.
b. Shilpi who is involved in innovative and productive activities like metal works, drawing, fashion designing, painting and others are eligible to apply, but they must have certificate from Anchal Pradhan, Sarpanch, Sabhadhipati or Municipal Corporation along with excellent bank record.
c. Existing borrower of the bank is too eligible to apply when their Acc or LUCC card expires.
a. Applicant banking relation must be three or more years old.
b. On working capitals applicant credit limit must be up to INR 10, 00,000.
c. Existing borrowers can apply for this card.
a. Self employed individual, micro entrepreneur, handloom weavers, small artisans, fisherman in semi urban, urban, rural and metro areas can apply as per their need.
1. Affordable Rates of Interest: As far as borrowers are concerned, interest rate of UBI (union bank of India) is quite competitive against other bank rates.
2. Flexible Repayment Tenure: if someone is planning to borrow from his/her credit card, then repayment of the amount through EMI should not be a matter of concern as bank give sufficient for this.
3. Insurance Coverage: All card user of UBI bank will get the complimentary insurance facility without any extra charges.
4. Loan Types: UBI credit card user is free to borrow by opting cash, credit or term loan or as per requirement both can be availed
5. Minimum Security: United bank of India credit card user needs to provide limited security when they will apply for loans against the earned credit.
6. Purpose: To fulfill the requirement of purchasing raw materials for business, essential equipment for business purpose, borrowed amount can be used.
7. Higher Loan Amount: Cardholders of united bank of India can easily avail a higher loan amount and borrowed amount can be used to expand running a business or to establish new business.