Union Bank of India- Product

Search

Home You are here : path  Products path Personal path UNION PERSONAL - NON-SALARIED

image  UNION PERSONAL - NON-SALARIED

FEATURES

PURPOSE
There are many among us who are not in service & earn their livelihood by doing business. These persons also faced difficulty in purchasing goods by paying a lump sum amount. But they would be comfortable paying small instalments on a monthly basis. The Union Personal loan for non salaried individuals plays an important role here. It helps them to avail loan to meet personal expenses such as marriage, purchase of consumer durables, travel, holiday, etc.
ELIGIBILITY
  • Non-salaried individuals having regular source of income.
  • Minimum age of the applicant should be 25 years.
  • Maximum permissible age at the end of repayment to be 60 years. This is subject to assessment at the time of sanction the adequacy of income to meet repayment obligation till the age of 60 years.
  • Applicant should be customer of our Bank for at least 24 months prior to considering the loan proposal.
  • Applicant should necessarily maintain savings or current account with us with AQB of Rs.25000 & above for immediately preceding 4 quarters and conduct of account should be satisfactory, i.e. no cheque return for financial reasons, no adverse feature reported etc.
QUANTUM
The maximum quantum of loan per individual is as under subject to repayment capacity:

New/first time borrowers

Rs. 5.00 lakh

Existing borrowers with a satisfactory repayment record of 2 years

Rs. 10.00 lakh

MARGIN
  • Nil
RATE OF INTEREST
  • 1Y-MCLR + 6.00% (floating)
PROCESSING CHARGES
  • 0.50% of the loan amount, subject to minimum of ` 500, plus applicable GST.
REPAYMENT TENURE
The maximum repayment period will be earlier of the following two –
  • 5 years (60 months)
  • Up to the age of 60 years
SECURITY
  • No security, except personal guarantee.
GUARANTEE
  • Guarantee of a person having means equivalent to the loan amount and minimum Trans union CIBIL score of 700 & above (equivalent score with other credit bureau).
  • 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


union

union

  • Rewarded

    Rewarded

    Earn reward points on transactions made at POS and e-commerce outlets

  • Book your locker

    Book your locker

    Deposit lockers are available to keep your valuables in a stringent and safe environment

  • Financial Advice?

    Financial Advice?

    Connect to our financial advisors to seek assistance and meet set financial goals.

  • ATM & Branch Network

    ATM & Branch Network

    Find PNB Branches and ATMs in proximity to your location.