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All-India Toll Free number1800 22 22 441800 208 2244 All-India Toll Free number for PMJDY Scheme1800 22 22 43
Dedicated Number for NRI+918025302510  
 
 
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Retail Loans
Union Personal for employees of Government organizations/ PSUs, Central/State Government undertakings
FeaturesForms & Documents
 
PURPOSE
 
There are many among us who might be facing difficulty in purchasing goods by paying a lumpsum amount. But we would be comfortable paying small installments on a monthly basis. The Union Personal loan plays an important role here. It helps you avail loans to meet personal expenses such as purchase of consumer durable, etc.
 
ELIGIBILITY

To avail " Union Personal for employees of Government organizations/ PSUs etc” you need to meet the following criteria:
  • Should be Permanent/Confirmed employee working at Government organizations/ PSUs, Central / State Government undertakings, etc. having regular source of income.
  • The applicant should necessarily maintain salary account with our Bank for 3 months before sanctioning of loan.
  • The applicant has reasonable residual service to ensure that the entire loan is repaid one year prior to retirement.

QUANTUM OF LOAN
 
  • Up to Rs. 10 Lakh subject to the repayment capacity
 
MARGIN, I.E. YOUR SHARE
 
  • Nil
 
MORATORIUM PERIOD
 
  • Nil
 
REPAYMENT
  • Maximum repayment tenure is to be the earlier of the following:
    1. 5 years
    2. One year prior to retirement
RATE OF INTEREST AND PROCESSING CHARGES
  • Please click here to know our latest rate of interest
  • Processing charges are 0.50% of the loan amount, subject to a minimum of Rs. 500, plus service tax.
PREPAYMENT PENALTY
  • There is NO prepayment penalty if the loan is adjusted by the borrower from his own verifiable legitimate sources.
  • If the loan is taken over by any other Bank /FI, then 1.00% higher rate of interest to be charged ab-initio till date of take over.
GUARANTEE
  • 2 Guarantees are required.*
SECURITY
  • No security other than the guarantees and undertaking from employee & employer.
*Conditions apply.
For further details, please visit our nearest branch.
 
I would like to convey my appreciation to you for the timely assistance provided to many of our students that helped them obtain an educational loan for studying at the ISB for PGP 2009-10.
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