Union Bank of India, one of the leading public sector banks of India, has reportedly unveiled a loan product to support and promote start-ups. Under this scheme, the bank will provide working capital and term loan finance up to Rs 5 crore at low interest rates and no processing fee.
Union Bank of India is one of the largest government-owned banks of India. The Bank offers products and services in three categories - Deposits, Loans and Advances, and Remittances & Collections. Its segments include treasury operations, corporate & wholesale banking, retail banking and other banking operations.