Union Bank is one of the leading banks in Nigeria, providing various financial services to its customers. Like other financial institutions, Union Bank has a list of charges that it levies on its customers for using its products and services. The charges list covers different types of transactions and services offered by the bank.
The Union Bank charges list includes fees for account maintenance, ATM withdrawals, chequebook requests, fund transfers, and many more. For example, the bank charges N50 for every ATM withdrawal made on non-Union Bank ATMs, and N10 for each SMS alert received by customers. Account maintenance fees range from N1,200 to N5,000 per annum, depending on the account type.
It is important for customers to be aware of the charges associated with their accounts to avoid unexpected charges and fees.
Union Bank Charges List
Union Bank of India schedule of Service Charges pertaining to advances (excluding GST)
|Sr. No.||Particulars||Service Charges (excluding GST)|
|I.||PROCESSING CHARGES ON FUND BASED (WORKING CAPITAL) AND NON FUND BASED LIMITS|
|1.||Processing Charges on Working Capital (FB/NFB) – Fresh Sanctions / Review / Renewal|
|ii.||Above Rs.25,000 – Rs.2.00 lacs||400 per proposal|
|iii.||Above Rs.2.00 lacs – Rs.10.00 lacs||300 per lac or part thereof minimum Rs.1000|
|iv.||Above Rs.10.00 lacs||350 per lac or part thereof|
For Priority Sector – maximum 30 lacs,
For other advances – No cap
|v.||No processing charges for MSE loan upto Rs.5.00 Lacs, agriculture loan upto Rs. 3 Lacs and advance to SHG & JLG upto Rs.3.00 Lacs.|
|vi.||No processing charges on BGs/LCs backed by 100% and above cash/FDR margin (self/third party FDR of our Bank)|
|vii.||50% concession in processing charges on advances against Govt. securities, UTI/Mutual fund Units, NSCs, Life Insurance Policies, KVPs, IVPs, RIBs.|
|viii.||No processing charges for Bills Discounted under LC of reputed / Prime Bank on regular / ad-hoc limit.|
|2.||Adhoc sanctions||150% of normal charges for actual period of adhoc limit|
|3.||Upfront recovery of processing fees||Rs.1.00 cr and above – 50% before handing over the sanction letter to the customer & remaining 50% at the time of documentation|
Below Rs.1.00 crore: 100% at the time of documentation
|4.||Refund of Processing fees||a. 75% of the charges recovered at the time of handing over the sanction letter to be refunded if sanction is not agreed when conveyed.|
b. However, if the consent / acceptance or otherwise for limit sanctioned is not given within 2 weeks from conveying of sanction by branch, the processing charges recovered upfront will be forfeited.
c. Processing charges recovered by the Bank on completion of documentation will not be refunded whether limit is availed fully or not.
d. In case limits allocated in a consortium arrangement is lower than the sanctioned limit, the processing charge will be recovered on allotted limit as per documentation and excess processing charges, if any will be refunded by the Bank.
Note: If concession is approved at the time of the supply of service and transaction value is net of discount, GST needs to be paid only on the transaction value. If concession is subsequently given, GST already paid should not be refunded.
|II.||Processing charges on Term Loan / DPGL / Demand Loan (including schematic loans)|
|5||At the time of sanction|
|Upto Rs. 25000||NIL|
|Above 25000 – Rs.2 lacs||Rs.1000/- per loan|
|Above 2 lacs – 5 crores||1.30% of limit subject to minimum Rs.3000|
|Above 5 crores – 25 crores||1.10% of limit subject to minimum Rs.7 lac|
|Above 25 crs||1% of the limit subject to minimum Rs.30 lacs For priority sector – max Rs.100 lacs For other advances – No cap No processing charges for MSE loan upto Rs.5.00Lacs.|
click at below link to download Union Bank charges list pdf
Union Bank Charges List PDF
Download Union Bank charges list pdf and schedule of service charges on Inland transactions w.e.f 10/06/2016 from below link.
For more details of Union Bank charges list visit Union bank of India official website