union muskaan scheme:Union Bank of India, country’s 5th largest public sector bank, established on 11th November 1919 and having its first head office inaugurated by the Father of the Nation, Mahatma Gandhi, celebrated its 104th foundation day on 11 November 2022 at MMRDA Ground, BKC, Mumbai. On this occasion Bank launched super app – Union Vyom app & various other digital products.
Union Vyom App, the super app of the Bank, is a one stop solution for all financial products. The Vyom app is empowered to deliver a unique experience of banking to the customers where customer can do transactions beyond traditional banking. Apart from online transactions, customer can avail Retail, MSME loan, credit card, make investment in 5000+ mutual fund schemes, buy insurance products without any assistance. The app is also enabled with lifestyle category products such as booking of flights, hotels, gift cards, cabs, donation & much more.
union muskaan scheme details
Union Bank of India, country’s 5th largest public sector bank, established on 11th November 1919 and having its first head office inaugurated by the Father of the Nation, Mahatma Gandhi, celebrated its 104th foundation day on 11 November 2022 at MMRDA Ground, BKC, Mumbai. On this occasion Bank launched super app – Union Vyom app & various other digital products.
the super app of the Bank, is a one stop solution for all financial products. The Vyom app is empowered to deliver a unique experience of banking to the customers where customer can do transactions beyond traditional banking. Apart from online transactions, customer can avail Retail, MSME loan, credit card, make investment in 5000+ mutual fund schemes, buy insurance products without any assistance. The app is also enabled with lifestyle category products such as booking of flights, hotels, gift cards, cabs, donation & much more.
Rashtriya Uchchatar 1000 Rupees Scheme
union muskaan scheme
Union Sparsh– Touch debit card, specially designed for visually impaired.
Union Muskaan– Zero balance saving account for children of 0-18 years age, having facility of term insurance, accidental death insurance, SMS banking, NEFT, IMPS at no cost. Also avail education loan on concessional rate.
Union Channel Finance– A fully automated financing solution for finance to dealers.
Union Digi-Sahaj– A online account opening platform to open saving account instantly.
Union SARAS- A portal named Stressed Asset Recovery Automated Solution, developed for early resolution and effective management of stressed assets having end to end processing automation of all recovery and legal proceedings.
Pradhan Mantri Apprentice Mela 2022
union muskaan scheme
Union Bank of India affirmed Bank’s adoption of latest technologies which transforms customer’s experience. Ms. A Manimekhalai, also stated that by launching Union Vyom app, Bank is ushering into Digital transformation era. Also reiterated Bank’s commitment of facilitating innovative banking experience to its customers through the launch of super app– Union Vyom app & other products. The motive of launching Union Sparsh (special touch/braille debit card) will bring dreams to life for person with visual disabilities.
Union Muskaan as a service will inculcate financial awareness & saving habit in children & also help parents to secure and build a corpus for child’s future. Union Channel Finance which is highly scalable with latest security features. Union Digi-Sahaj that will aim to empower small & medium business, to deliver best customer experience. Union SARAS portal that provide the best & most effective automated recovery systems.
UNION MUSKAAN-Saving Bank Account For Minors
| Eligibility | Minor of any age under guardianship of Parent/Guardian. | |
| Mode of operation | By Parent/Guardian | |
| Quarterly Average Balance | Nil | |
| Type of ATM/Debit card | Platinum card (issued to Parent/guardian). | |
| Debit Card charge | Issue charge –FREE Annual Maintenance Charge –As per applicable charges | |
| Free Access to own Bank ATM | 5 transactions (financial+ non-financial) per month. | |
| Free Access to other bank ATM | 3 transactions (financial + non-financial) per month at Metro or 5 transactions (financial + non-financial) per month at other centers. | |
| ATM Cash Withdrawal Limit | Rs. 5,000/- Per day | |
| ATM POS Limit | Rs.25,000/- Per day | |
| Free Personal Accident Insurance (Death) cover with debit card* | Rs 2 Lakhs on accidental death of parent/guardian operating the account (by Bank).Additional Rs 2 Lakhs on accidental death of parent/guardian operating the account (by RuPay). | |
| Free Term insurance with first RD opened in the name of the minor. | Free Term insurance facility would be provided with first RD opened in the name of the minor who has opened SB Muskaan account. Maturity value of RD will be insured in case of unfortunate death of parent/guardian. The sum assured of the insurance would be the difference amount of Maturity value and the available balance of the RD. | |
| Concession in ROI for Education Loan | Concession of 0.25% in ROI on Education Loan. | |
| Free remittance for fee payment | Free one DD/NEFT per Month of any amount for payment of School/College fee/upfront fee only. | |
| RTGS, NEFT & IMPS | As per applicable charges. | |
| SMS Banking Charge | As per applicable charges. | |
| Mobile & Internet Banking | Available with viewing rights only. | |
| Free Cheque Book | Personalized cheque book up to 20 leaves in a year. | |
| Investment options | Sukanya Samridhi | For girl child Sukanya Samridhi can be opened with us with standing instruction for monthly credit. |
| Recurring Deposit | RD can be opened and funded with a simple standing instruction from this SB account. | |
| Systematic Investment Plan | Invest small amounts at regular interval to get a corpus at the time of need. | |
| Account closure within 14 days or after 12 months | Nil | |
| Account closure Between 15 days to 12 months | As per applicable charges. | |
| Passbook/Statement | Passbook will be provided. |