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image   Union Personal Scheme for Salaried Individual other than Government Employees

FEATURES

PURPOSE
There are many among us who might be facing difficulty in purchasing goods by paying a lump sum amount. But we would be comfortable paying small instalments on a monthly basis. The Union Personal loan plays an important role here. It helps you to avail loan to meet personal expenses such as purchase of consumer durable, etc.
ELIGIBILITY

Tie-Up (A1)

Non Tie- Up(A2)

  • Permanent/ confirmed employees of reputed private institutes/organisation in India.
  • These organizations/institutes should be operating within the jurisdiction of respective ZLCC.
  • Applicant may or may not maintain salary account with us.
  • Permanent/ confirmed employees of reputed private institutes/organisation in India.
  • The applicant should be customer of the bank for at least 6 months prior to considering the loan proposal.
  • Applicant should necessarily maintain salary account with us.

 

Note:
  • Minimum age of the applicant should be 18 years.
  • The applicant has reasonable residual service to ensure that the entire loan is repaid one year prior to retirement.
  • Government employee and Staff members of our bank are not eligible under the schemes.
QUANTUM

Tie-Up (A1)

Non Tie- Up(A2)

  • Maximum of Rs. 10 lakh
  • Maximum of Rs. 5 Lakh (New/First time borrowers)
  • Maximum Rs. 10 Lakh (Existing borrowers with a satisfactory repayment record of 2 years).
MARGIN
  • Nil
RATE OF INTEREST

Tie-Up (A1)

Non Tie- Up(A2)

1Y-MCLR + 4.00% (floating)

1Y-MCLR + 5.00% (floating)

PROCESSING CHARGES
  • 0.50% of the loan amount, subject to minimum of Rs. 500, plus applicable GST.
REPAYMENT TENURE
The maximum repayment period will be earlier of the following two –
  • 5 years (60 months)
  • One year prior to retirement
SECURITY
  • No security other than the guarantees.
GUARANTEE
  • Guarantee of one co-employee - However, one employee should not be guarantor for more than two co-employees.
  • Guarantee of spouse - However, if the applicant is unmarried/ widow/ widower, then guarantee of a 3rd party having equivalent means and having Transunion CIBIL score of minimum 700 & above (equivalent score with other credit bureau) to be obtained
Note:
  • Mobile number and PAN are mandatory, whereas Aadhaar is mandatory except for exempted states from North-Eastern Region.

FORMS & DOCUMENTS


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