This bank announces a 100% waiver of processing charges for home, and auto loans for these customers | Mint - Mint

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Union Bank of India has announced a 100% waiver of processing charges for Home Loan / Four & Two-wheeler loans for all new customers having credit scores of 700 and above.

This offer is for the period 16th August, 2023 to 15th November, 2023 (both days inclusive). This waiver is also extended for the takeover of housing loans from other banks and financial institutions.

Union Bank of India Fixed Deposit Interest Rates

Union Bank of India offers FD interest rates of 3.00-7.00% p.a. to the general public and 3.50-7.50% p.a. to senior citizens on tenures ranging from 7 days to 10 years. The interest rate on Union Bank of India Tax Saving FDs is 6.70% p.a. for the general public and 7.20% p.a. for senior citizen depositors for tenures of 5 to 10 years.

Meanwhile, the state-owned Union Bank of India on Wednesday presented a dividend cheque of ₹1,712 crore for 2022-23.

It is the highest dividend Union Bank of India has given in any financial year, the bank said in a statement.

Union Bank of India managing director A Manimekhalai handed over the dividend cheque to Finance Minister Nirmala Sitharaman in the presence of Joint Secretary (Banking) Sameer Shukla.

Union Bank of India begins probe into RCom loan, seeks firm's response

The Union Bank of India has started an examination of a loan sanctioned to Reliance Communications (RCom) from the angle of fraudulent practice and has sought the company's response, according to a regulatory filing.

The company is undergoing an insolvency resolution process after it failed to clear vendor dues and other debt.

"Company has received a letter from Union Bank of India, with the subject 'Examination of irregularities observed in the Loan Ac 495806390002088 and 495806390002240 from the fraud angle, as per the guidelines of Reserve Bank of India', asking to submit the company's response or reply on the said irregularities as pointed out by Forensic Auditor," RCom said in a filing.