The Universal Co-Operative Urban Bank Ltd. offers a variety of deposit and loan products to meet the financial needs of its customers. Here is a general overview of the types of products they provide, based on available information:
Deposit Schemes
The bank provides several options for deposits, including:
► Savings Accounts: A basic account for daily banking needs, offering a specific interest rate on the balance.
► Fixed Deposits (FDs): A popular choice for a lump-sum investment, offering a higher interest rate than a savings account for a fixed term. The bank may offer special rates for senior citizens.
► Recurring Deposits (RDs): A scheme designed for regular, small monthly savings, allowing you to accumulate a significant sum over a period of time.
► Other Schemes: The bank may have specialized deposit products with unique features and benefits.
Loan Schemes
The bank offers a range of loan products to individuals and businesses, with varying interest rates and processing charges. Some of the loan categories include:
1. Loans Against Deposits: You can avail a loan by pledging your existing bank deposits.
2. Gold Loans: Loans against the security of your gold ornaments.
3. Personal Loans: Loans for personal needs, which may be based on your salary or other income proof.
4. Housing Loans: Loans for purchasing, constructing, or repairing a house.
5. Vehicle Loans: Loans for buying new or used vehicles.
6. Business Loans: Loans for small and medium enterprises to meet working capital requirements or other business needs.
7. Mortgage Loans: Loans secured by a property.
8. Consumption Loans: Loans for various consumption-related expenses.