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:

4. REPAYMENT

4.1 The maximum repayment tenure is as under:

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

**Conditions Apply**

**Contact our nearest Branch for more details**

FAQ: UNION CASH

• What is EBLR ?

Answer:- EBLR stands for external benchmark lending rate. Union bank of India has adopted Repo rate as the External benchmark to link its floating rate home loans with effect from 01.10.2019.

• When will my interest Rate changes under EBLR regime ?

Answer:- The External Benchmark shall be reset at least once in three months or any other frequency as prescribed by Bank / RBI.

• How will Union Bank of India decide the loan amount I am eligible for ?

Answer:- We will determine Loan Eligibility largely by your pension and repayment capacity. Other important factors include your age and Credit Information Bureau (CIBIL/Experian etc.) track record.

• Can I get instant digital approval ?

Answer:- Instant approval can be obtained if pre approved.

• Can I get instant digital Disbursement ?

Answer:- Instant disbursement after approval of Loan.

• How do I make a Union Cash Loan Application?

Answer:-You could collect an application form from our nearest branch or simply download it from our website and submit it along with documents and the Processing fees Cheque at any Union Bank of India Branch. Alternatively you have the option to make online application on our website.

• Is it mandatory to buy insurances policy with Union Cash Loan?

Answer:- This is optional and purely at the discretion of the Borrower. However, the applicant(s) can seek cover to the extent of loan amount sanctioned, to provide for any unforeseen situation.