Union Bank launches 'Save and Win'

Union Bank launched the 'Save and Win' promotion in September to build its savings base and increasing the bank's customer base. Cash prizes up to Rs. one million will be offered to 100 winners at the year end-draw.

The Bank's premier savings account Ultra Saver pays 7 percent per annum. This rate is applicable for any amount saved in the account without conditions.

An Ultra Saver account can be opened with a minimum deposit of Rs 5000. Union Bank's Piyawara minor savings account which can be opened with an initial deposit of Rs. 250 pays an interest rate of 10 percent per annum which is the highest interest rate for minor savings.

Attractive gifts are also on offer at the time of opening the accounts. Ruweththi is a savings account for women offering not only an attractive rate of interest and other benefits such as personal loan facility, a free current account and lower interest rates for pawning and leasing.

The eligibility criteria has been kept simple and require Rs 25,000 in a savings account or Rs 15,000 in a current account for a minimum of one month. The draw also offers multiple winning chances to customers who save more for longer periods. The Bank is rapidly growing its branch network enabling a wider spectrum of customers the opportunity to access these products and benefits and is continuously upgrading its service standards to provide superior service delivery.