UNION SHARES ELIGIBILITY Individuals holding shares/debentures/bonds either in their name or jointly. PURPOSE Personal purposes like Education, Housing, Consumer Goods and such other needs. QUANTUM OF ADVANCE The maximum amount that can be granted is up to Rs.20.00 Lacs for security held ONLY in DEMAT Form. PERIOD 3 years for Loan repayable in installments. SOD facility to be renewed/reviewed every year. RATE OF INTEREST (w.e.f. 01.07.2009) (BPLR = 11.75%) Rate of Interest BPLR+4.50% i.e. 16.25% SECURITY Pledge of shares of those companies approved by the Bank (Please refer to nearest branch of Bank for the list of approved companies) OTHER CONDITION No PrePayment penalty for self-closure. However, 2% charged on an average o/s. balance of last 12 months if loan is closed on take over by other Bank/Financial Insitutions
UNION SHARES
Individuals holding shares/debentures/bonds either in their name or jointly.
Personal purposes like Education, Housing, Consumer Goods and such other needs.
The maximum amount that can be granted is up to Rs.20.00 Lacs for security held ONLY in DEMAT Form.
3 years for Loan repayable in installments. SOD facility to be renewed/reviewed every year.
Rate of Interest BPLR+4.50% i.e. 16.25%
Pledge of shares of those companies approved by the Bank (Please refer to nearest branch of Bank for the list of approved companies)
No PrePayment penalty for self-closure. However, 2% charged on an average o/s. balance of last 12 months if loan is closed on take over by other Bank/Financial Insitutions
