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Retail Loans
UNION PERSONAL - NON-SALARIED
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 marriage, purchase of consumer durables, travel, holiday, etc.
 
ELIGIBILITY
To avail "Union Personal-Non Salaried" you need to meet the following criteria:
  • Non-salaried individuals having regular source of income.
  • Minimum age - 25 years and Maximum age – 60 years (at the end of the repayment)
  • Applicant should be customer of our Bank for at least 24 months and maintaining savings or current account with us with AQB of ` 25000 & above for immediately preceding 4 quarters and conduct of account should be satisfactory.
  • Applicant should have CIBIL score of 700 & above (equivalent score with other credit bureau).

QUANTUM OF LOAN

   Maximum loan amount is as under:

New/first time borrowers

Rs. 5.00 lakh

Existing borrowers with a satisfactory repayment record of 2 years

Rs. 10.00 lakh


MARGIN, I.E. YOUR SHARE
 
  • Nil
 
MORATORIUM PERIOD
 
  • Nil
 
REPAYMENT TENURE
  • 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.
  • A take-over penalty of 2% plus S.T. to be levied on the average outstanding balance of the preceding 12 months if the loan is taken over by any other banks/FIs.
GUARANTEE
  • 2 Guarantees are required.*
*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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