Women entrepreneurs play a significant role in driving economic growth, fostering innovation, and creating jobs in India.
Union Bank of India through its Union Nari Shakti scheme is helping women entrepreneurs to fulfil their dreams for financial freedom. All women owned and managed MSMEs (having valid UDYAM Registration Number/ SHG can avail working capital as well as Term Loan for purchase/construction/ renovation of factory/ offices / shop / godown or for purchase of plant & machineries. Minimum loan that can be availed is Rs 2.00 Lakh and with no maximum ceiling for MSME. Upto Rs 2.00 Cr there are no processing charges and Loans up to Rs.5.00 Crore can be availed collateral free with coverage under CGTMSE.
Union Bank of India has been extending personal loans for various purposes on a regular basis to different segments. One of its parts is “Union Women Professional Personal Loan” for improving the Bank’s personal loan portfolio among women professionals of the society. Union Women Professional Personal Loan is a customized product for women professionals to meet personal expenses such as marriage, purchase of consumer durables, travel, education etc. Salaried and non-salaried Income Tax assesses women having annual Salary /Income of Rs. 5.00 lakh & above are eligible. Rate of Interest for personal loans is very competitive.
Union Bank of India has also launched two women centric accounts designed specially for women. Union Samriddhi is a savings account for women and Union Unnati is a current account for women Entrepreneurs and professionals.
Union Samriddhi account for women provides a safe and convenient Avenue to save and manage their Savings/Finances. This account is available to individual women aged 18 yrs and above. Key features of this account include free cancer care coverage of Rs 5 lacs on detection of Breast, Ovarian and cervical cancer, Free personal accident cover of Rs 5 Lacs and Air accident cover of Rs 50 lacs, Concession in processing charges on Retail loans and reasonable service charges.
Union Unnati current account for women Entrepreneurs and professionals provides ease of Banking with range of benefits .It offers free cancer care coverage of Rs 10 lacs on detection of Breast, Ovarian and cervical cancer, Free personal accident cover of Rs 10 Lacs and Air accident cover of Rs 50 lacs . Concession in loan interest rates, Retail loans processing charges and Bare minimum service charges.Bank also has a focused product for Girl Child with Scheme of Savings account under Union Muskaan. The scheme also has free term insurance facility wherein recurring deposit has to be opened and insurance coverage will be the maturity value of RD. With a minimum of Rs 500 to maximum Rs 5000 per month RD can be opened.
