Union Bank, a foremost Deposit Money Bank (DMB) in the country on Tuesday announced the launch of a new product christened UnionAccelerate. The new product is a high-interest savings account with zero bank charges for medium-sized businesses. UnionAccelerate, the bank explained is a full-featured innovative banking solution that helps manage the challenges of high overhead costs and restrictive bank deductions experienced by businesses across the country.
Explaining the components of the latest offering, the bank’s Executive Director, Commercial Banking, Mr. Kunle Sonola, the product is coming as way of reiterating Union Bank’s strategic approach of creating innovative banking services with a focus on products that truly meet the needs of customers.
“Offering zero account maintenance fee, unlimited withdrawal on all account variants, and one of the highest interest rates compared to any competing product, UnionAccelerate provides an important opportunity for our medium-sized business customers to leverage and grow their enterprise with adequate support from us,” adding, “All they need to do is call their Union Bank Relationship Manager or walk into any of our branches nationwide to sign up for the account – it is that easy,” he added.
UnionAccelerate which focuses on new and existing medium-sized businesses offers several features including, free initial cheque books, zero account maintenance fee, attractive and competitive interest rate and unlimited withdrawal on all account variants.
The account, NewsBitsng.com also gathered would enable customers and subscribers of the account to pay in and issue all clearing instruments such as cheques, dividends warrants among others. A statement from the bank also added that these services would be rendered at no extra charges.
Established in 1917 and listed on the Nigerian Stock Exchange in 1971, Union Bank of Nigeria Plc. is a household name and one of Nigeria’s long-standing and most respected financial institutions. The Bank is a trusted and recognizable brand, with an extensive network of over 300 branches across Nigeria. In 2012, a new Board of Directors and Executive Management team were appointed to Union Bank and in 2014 the Bank began executing a transformation programme to re-establish it as a highly respected provider of quality financial services.
The Bank currently offers a variety of banking services to both individual and corporate clients including current, savings and deposit account services, funds transfer, foreign currency domiciliation, loans, overdrafts, equipment leasing and trade finance. The bank also offers its customers convenient electronic banking channels and products including online banking, mobile banking, debit cards, ATMs and POS Systems just to mention a few.