Union Cash

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Union Cash

1. PURPOSE

1.1 Personal expenses including medical treatment, travel or any unforeseen expenses of the pensioners/ family pensioners.

2. UNION CASH ELIGIBILITY

2.1 Pensioners/family pensioner, who draw pension/family pension from our bank on account of superannuation/retirement/voluntary retirement/ ordinary family pension**

2.2 Maximum exit age including repayment period as 75 years for pensioner and 70 years for family pensioner.

3. QUANTUM OF LOAN

3.1 The eligible quantum of loan will be 18 times monthly net pension (Gross Pension minus Tax), subject to maximum quantum and sustenance under:

	Age at the time of loan	Maximum quantum of loan
Pensioner	Up to 70 years	Rs.10.00 lakh
Pensioner	Above 70 years	Rs.5.00 lakh
Family pensioner	Any age group	Rs.3.00 lakh

4. REPAYMENT

4.1 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

5. UNION CASH RATE OF INTEREST

5.1 The ROI will be EBLR+2.10% floating

6. PREPAYMENT PENALTY

6.1 There is NO prepayment penalty

7. SECURITY

7.1 No security is required.

8. GUARANTEE

8.1 Personal guarantee of spouse or the nominee for family pension under the pension scheme.

8.2 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.

9. UNION CASH EMI CALCULATOR

9.1 Please Click here for EMI Calculator