Union Personal for employees of Government organizations

You are here :

Products

Personal

Union Personal for employees of Government organizations

UNION PERSONAL FOR EMPLOYEES OF GOVERNMENT ORGANIZATIONS/ PSUS, CENTRAL/STATE GOVERNMENT UNDERTAKINGS

Features

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

MORATORIUM PERIOD

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