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Image   UNION CASH

Features

PURPOSE
  • Personal expenses including medical treatment, travel or any unforeseen expenses of the pensioners/ family pensioners.
ELIGIBILITY
  • Pensioners/family pensioner, who draw pension/family pension from our bank on account of superannuation/retirement/voluntary retirement/ ordinary family pension**
  • Maximum age of 75 years for pensioner and 70 years for family pensioner.
QUANTUM OF LOAN
  • The eligible quantum of loan will be 12 times monthly net pension (Gross Pension minus Tax), subject to maximum quantum under:
Age at the time of loan Maximum quantum of loan
Pensioner Up to 70 years Rs.10.00 lakh
Above 70 years Rs.5.00 lakh
Family pensioner Any age group Rs.3.00 lakh
REPAYMENT
  • The maximum repayment tenure is as under:
Age at the time of application Maximum repayment tenure
Up to 70 years 5 years
Above 70 years 3 years
RATE OF INTEREST
  • Please click here to know our latest interest rates
PREPAYMENT PENALTY
  • There is NO prepayment penalty
SECURITY
  • No security is required.
GUARANTEE
  • Personal guarantee of spouse or the nominee for family pension under the pension scheme.
  • In case pensioner is bachelor/spinster/widower/widow or in case of family pensioner, personal guarantee of other earning family member (preferably son/ daughter) or third party acceptable to the bank, having means equivalent to the loan amount.
**Conditions apply.
**Contact our nearest branch for further details**

Forms & Documents

FAQs


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