Personal Loan lender UBI ties up with Peerless Mutual Fund

By | September 23, 2010
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Personal Loan lender, United Bank of India may opt for an increase in deposit rates due to the slow increase in deposits in the country, according to a senior official of the bank.

Bhaskar Sen, Chairman and MD of UBI said, “We may go for a hike in deposit rates since growth was low at 14 percent”.

The bank has also entered into an agreement with Peerless Mutual Funds by which the company would sell its products via UBI.

MD of Peerless MF said, the total assets under management (AUM) of the firm are Rs 200 crore.

The AMC offered its initial product in February and has 4 products in its stable.

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