The product, aptly named UnionFuture, allows you to save for the future. Union Bank, is a financial institution that cares and understands the importance of being able to cater for all your needs even after active service.
Here are seven things you need to know about UnionFuture:
1. UnionFuture is a savings account that allows you to save, prepare and secure your future.
2. A high number of Nigerians do not have any money set aside for life after active service, hence UnionFuture addresses this problem so as to ensure that you lead a comfortable and happy life when you stop active service or work.
3. UnionFuture is aimed at providing an opportunity for self-employed individuals and others in the informal sector (traders, businessmen, farmers, small business owners, etc.) to save for the future by putting away a small amount of money monthly.
4. To open a UnionFuture savings account, all you need to do is open any Union Bank account with a minimum of N2,000. The UnionFuture account will be created and linked to the Union Bank account and the Bank will move N2, 000 from your Union Bank account to your UnionFuture savings account.
5. Monthly, the bank will withdraw N2,000 from your Union Bank account and deposit into your UnionFuture Savings account. However, you can also decide the tenor and amount you would like to save for.
6. What’s more, you get a whopping 7% interest on your UnionFuture savings account monthly for the specified period you opted for.
7. Union Bank will provide insurance cover of N100, 000 when you save up to N100, 000 in your UnionFuture account. The insurance covers death benefit, permanent disability and 10% sum assured for funeral expenses, thus providing additional value to you.