UNION SMILE ELIGIBILITY Pensioners & salaried class who are drawing their pension/ salary through Union Bank of India. PURPOSE To meet unforeseen medical expenses, timely payment of dues to State Electricity Board, Telephone, School fees and water charge and other such needs. QUANTUM Maximum 90% of one month’s pension/salary credited in the account MARGIN 10% REPAYMENT Entire amount of overdraft and interest should be recovered while crediting next pension/salary. Otherwise, it can be recovered in installments within a period of 3 months, if so required by borrower. RATE OF INTEREST (w.e.f. 01.07.2009) 2% of the amount of overdraft in the account every month. Interest to be recovered as and when the pension /salary is credited. PROCESSING CHARGES Nil. SECURITY Nil. OTHER CONDITIONS The facility can be allowed on an ongoing basis by liquidating earlier dues. Pensioners of Union Bank of India are also eligible.
UNION SMILE
Pensioners & salaried class who are drawing their pension/ salary through Union Bank of India.
To meet unforeseen medical expenses, timely payment of dues to State Electricity Board, Telephone, School fees and water charge and other such needs.
Maximum 90% of one month’s pension/salary credited in the account
10%
Entire amount of overdraft and interest should be recovered while crediting next pension/salary. Otherwise, it can be recovered in installments within a period of 3 months, if so required by borrower.
2% of the amount of overdraft in the account every month. Interest to be recovered as and when the pension /salary is credited.
Nil.
The facility can be allowed on an ongoing basis by liquidating earlier dues. Pensioners of Union Bank of India are also eligible.
