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.