Benefits galore in UBI's new Current Account product

New Delhi, Dec 3 (UNI) To cater to the growing needs of the trading community. the Union Bank of India (UBI) has launched the 'Union Classic Current Account (UCCA)', packaged with a range of free services and benefits.

Mr S P Goel, Deputy General Manager, Regional Head Office at Delhi, UBI, said these benefits are either by way of free or concessional offers.

He said a trader or any other customer can open the the UCCA under three categories, with any of the 900 Core Banking Solution branches.

The choice of category is based on the Average Monthly Balnces maintained. These are: Category-I, Rs 50,000 and above but less than Rs one lakh; Category-II, Rs one lakh but less than Rs five lakh; Category- III, Rs five lakh and above.

Mr Goel said the product has been designed in such a manner to enable a trader to manage his funds more efficiently, as the UCCA offers multiple benefits like free remittances and free collections.

''Such multiple free as well as concessional services are extended to the customers in increasing proportion to the increase in cash balances. The higher the amount involved the more the benefits,'' Mr Goel said.

The customer-friendly free services include remittance of funds up to Rs 100 lakh per month; outstation cheques for collection up to Rs 25 lakh; multi-city cheque collection up to Rs 25 lakh per month, cash management services in two locations and instant issue of credit and debit cards.

UBI is rated as among the top five banks of the country.

UNI GS CS ND1246