MUTUAL FUND OVERVIEWWhat is a Mutual Fund? A mutual fund is a professionally managed type of collective investment scheme that pools money from many investors and invests it in stocks, bonds, short-term money market instruments, and/or other securities. Funds are selected on quantitative parameters such as volatility, risk adjusted returns, rolling return coupled with a qualitative analysis of fund performance and investment styles through regular due diligence processes. Mutual Fund products of all leading Asset Management Compamies are made available to our valued customers through all major CBS branches across the country with the help of our AMFI Certified Marketing Officers. Advantages of Investing into a Mutual Fund Mutual funds are popular because they offer the ability to easily invest in increasingly more complicated financial markets. A large part of the success of mutual funds is also the advantages they offer in terms of diversification, professional management and liquidity. Regulated for investor protection - The Mutual Funds sector is regulated to safeguard the investor's interests. Disclaimer: Participation by the Bank's customers shall be purely on a voluntary basis.Mutual Fund investments are subject to market risk. Please read the statement of additional information & scheme information document carefully before investing. Click here for more information about UNIONMF
FAQs
What is sufficient balance in Union Bank of India? ›
| Branch | With Cheque Book | Without Cheque Book |
|---|---|---|
| For Pensioners | Rs. 250 | Rs. 20 |
| Rural | Rs. 250 | Rs. 100 |
| Semi-Urban | Rs. 500 | Rs. 250 |
| Urban | Rs. 1000 | Rs. 500 |
Through internet banking, Vyom App and branch. No minimum balance requirement as account can be opened with Zero balance. Cash Withdrawal (self) at non base branches is allowed up to Rs.25000/- No such limit for Cash Withdrawal at Base Branch.
Why my Union Bank account shows negative balance? ›If you have a negative bank account, that means you've taken out more money than was available in the account. Letting an account go negative can be costly, because banks charge fees when this happens. And your bank could close your account if it stays negative for too long.
Which is No 1 bank in India? ›For savings, aim to keep three to six months' worth of expenses in a high-yield savings account, but note that any amount can be beneficial in a financial emergency. For checking, an ideal amount is generally one to two months' worth of living expenses plus a 30% buffer.
How much balance should be maintained in Union Bank of India? ›| Branch | With Cheque Book | Without Cheque Book |
|---|---|---|
| Rural | Rs. 250 | Rs. 100 |
| Semi-Urban | Rs. 500 | Rs. 250 |
| Urban | Rs. 1000 | Rs. 500 |
| Metro | Rs. 1000 | Rs. 500 |
If the minimum balance is not maintained then, the account holder is penalised. A fee will be incurred for the non-maintenance. Usually, the charges vary from bank to bank, even branch to branch. Though, the banks don't penalise the account holders for this every day.
What happens if my bank account balance is zero? ›In a regular savings account, banks levy a penalty for not maintaining the minimum account balance, but in a zero balance account, there is no penalty as you are not required to maintain a minimum balance.(subject to terms and conditions )
What is the limit of cash deposit in Union Bank of India? ›BNAs accept maximum 200 currency notes of Rs. 100, 500 and 2000 denominations per transaction and maximum value of Rs. 49999/-. With PAN card validation additional amount up to Rs. 100000/- can be deposited per transaction. BNA impounds any counterfeit currency and such notes are not returned to the depositor.
Can you withdraw money if you have a negative balance? ›If you choose to opt in to debit card and ATM overdraft, you are usually allowed to make ATM withdrawals and debit card purchases even if you do not have enough funds at the time of the transaction. However, you will generally incur fees on transactions that settle against a negative balance later.
What happens if you don't pay your negative balance? ›
Your bank may close your account and send you to collections if you're always in overdraft and/or don't bring your account up to date. An overdraft occurs when your account falls below zero. Your bank will let your account become negative if you have overdraft protection but you may face fees.
How long can a negative balance stay in your bank account? ›In most cases, banks will close a checking account after 60 days of being overdrawn. Ask your bank about the terms of their overdraft policy to find out the exact length of time your account can remain overdrawn.
Which is richest bank in India? ›- HDFC Bank (post merger) 14,12,055.5.
- ICICI Bank Ltd. 6,53,704.04.
- State Bank of India. 5,11,201.77.
- Kotak Mahindra Bank Ltd. 3,66,967.55.
- Axis Bank Ltd. 304211.88.
- Indusind Bank Ltd. 106707.03.
- Bank of Baroda. 98436.88.
Among the top 10 banks in India, the bank that makes the highest yearly revenue is HDFC bank. In 2022, HDFC Bank's annual revenue stands at ₹1.68 lakh crores. After HDFC Bank, ICICI Bank has the second-highest annual revenue.
Which bank is more safe in India? ›| Sr No | List Of Banks | Score |
|---|---|---|
| 1. | State Bank of India | AAA |
| 2. | HDFC Bank | AAA |
| 3. | Bank of Baroda | AAA |
| 4, | ICICI Bank | AAA |
| Name of the Product | Union Micro Digital Current Account ( UMDCA) |
|---|---|
| Average Monthly Balance (AMB) | Rs.1000/- |
| Free Cash Deposit limit per month | Rs.1.00 lakh over and above free daily limit of Rs 50000/- |
Customers can get their primary account balance by giving Missed call to 09223008586.
In which bank minimum balance is not required? ›IndusInd Bank
It allows unlimited ATM withdrawals and free net and mobile banking access. Any Indian citizen above the age of 18 years is eligible to open this savings account with no minimum balance. Transfer funds for free via NEFT, IMPS, and RTGS.