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United Bank of India gains on introducing new Housing and Car Loan schemes

United Bank of India is currently trading at Rs. 9.48, up by 0.01 points or 0.11% from its previous closing of Rs. 9.47 on the BSE.

The scrip opened at Rs. 9.49 and has touched a high and low of Rs. 9.55 and Rs. 9.48 respectively. So far 5504 shares were traded on the counter.

The BSE group ‘B’ stock of face value Rs. 10 has touched a 52 week high of Rs. 13.25 on 01-Jan-2019 and a 52 week low of Rs. 9.05 on 08-Oct-2018.

Last one week high and low of the scrip stood at Rs. 10.39 and Rs. 9.43 respectively. The current market cap of the company is Rs. 7041.67 crore.

The promoters holding in the company stood at 96.83%, while Institutions and Non-Institutions held 1.53% and 1.64% respectively.

United Bank of India has introduced new Housing and Car Loan schemes, the pricing of which will be linked with reference to External Benchmark i.e. Repo Rate. The Repo Linked Lending Rate (RLLR) will be effective for loans sanctioned from September 01, 2019.

With the introduction of new schemes, interest rate on Housing Loans will start from RLLR 0.45% plus i.e. 8.15% at present and Car Loans from RLLR 1.00% plus i.e. 8.70% at present.

United Bank of India is one of the 14 major banks, which were nationalized on July 19, 1969. After nationalization, the Bank expanded its branch network in a big way and actively participated in the developmental activities, particularly in the rural and semi-urban areas in conformity with the objectives of nationalization.

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