Union Cash

ELIGIBILITY Retired employees of Government / Semi Government undertakings, Banks and other reputed private organisations etc. who draw fixed income / pension through our Bank. PURPOSE To meet financial requirements. TYPE OF LOAN: Demand Loan repayable in installments with a maximum repayment tenure of 36 months Term Loan with repayment tenure of above 36 months and maximum upto 48 months. QUANTUM Upto Rs.1,00,000/- or 12 times the monthly pension, whichever is less. MARGIN 25% in case of Deposit Receipts / NSC / Bonds issued by Government of India / Financial Institutions. 50% in case of Shares & Debentures. REPAYMENT 12 – 36 EMIs in case of Demand Loan repayable in Installments Above 36 to 48 EMIs in the case of Term Loan RATE OF INTEREST (w.e.f. 01.07.2009)   A fixed interest rate of  13.75% (Fixed) PROCESSING CHARGES (EXCLUDING SERVICE TAX) NO Processing charges. SECURITY Pledge of Deposit Receipts / Shares / Debentures of corporates of good standing, NSCs Bonds issued by Government of India / Financial Institutions etc. Where sufficient security is not available, personal guarantee of spouse or a person who is the nominee under pension scheme is to be obtained. In genuine cases, the Bank may consider this facility on a clean basis. OTHER CONDITIONS Declaration is required from the spouse who is eligible for family pension.