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Now you can fulfill your dreams of owing a vehicle by availing Union Miles. You can avail this special scheme to purchase of new or old (up to 3 years) four-wheeler, and you can also avail this loan to purchase a new two-wheeler.


  • Confirmed/permanent employees working at Government organizations (Central / State), PSUs, Central/State Government undertakings, Defence, armed personnel, Ministries/Departments under the Ministries, officers in All India Services, Teaching & non-teaching staff at Government Schools & Colleges.
  • BSNL employees are not covered under this scheme. The existing Special Retail Lending Scheme for BSNL employees will continue.
  • The employee can be the main applicant or co-applicant.
  • In case of educational loans taken for the ward of Govt. employee, the employee (parent) will be the co-applicant of the loan.
  • The employee should necessarily maintain salary account with our Bank.

Rate of interest


Rate of Interest

Union Home

  • Less than 75 lakh

CIBIL  700 & above

1Y-MCLR + 0.10%

Below 700

1Y-MCLR + 0.20%

  •  More than 75 Lakh

CIBIL 700 & above

1Y-MCLR + 0.15%


Below 700

1Y-MCLR + 0.25%

Union Mortgage

  • Residential Property

1Y-MCLR +1.50%

  • Non-residential but self occupied Commercial / Industrial properties – Excluding open plot

1Y-MCLR +3.40%

  • Non-residential properties which are not self occupied like School/college building, Hospital leased to third parties, Multi tenanted commercial building – Excluding open plots

1Y-MCLR +3.65%

  • Open Plot which are well demarcated and have been acquire by the borrower from urban development authorities such as DDA, HUDA, HUDCO, LDA etc.

1Y-MCLR +4.00%

Union Miles

  • For New 4 wheeler

1Y-MCLR + 0.25%

  • For New 2 Wheeler

1Y-MCLR + 1.50%

  • For Old 4 Wheeler

1Y-MCLR + 2.00%

Union Education ( For the ward of the Government Employee)

  • Irrespective of loan amount

1Y-MCLR + 2.00%

Union Personal (Term loan and Overdraft)

  • Wherever employer undertaking available

1Y-MCLR +2.00%

  • Wherever employer undertaking not available

1Y-MCLR + 3.50%


Personal loan under SRLGE, may be sanctioned as Term as well as Overdraft (OD). In case of over draft, one must be adhered the following guidelines:

  • On attaining the age of 55 years, or 5 years prior to retirement date, whichever is earlier, 25% of OD limit will be reduced each year leading to adjustment of entire OD limit one year prior to retirement of the borrower.
  • In case the retirement age is prior to 60 years, then OD limit is to be adjusted 5 years prior to retirement.
  • Salary to be credited in this OD account every month.
  • Interest should be serviced on monthly basis by the borrower.
  • In case of failure, penal interest should be charged.

Processing Charges

  • Nil for all the above schemes.

Takeover of loan from other Banks/FI

  • Only those loans which are in standard category, i.e. those accounts whose repayment is regular and up-to-date can be taken over by our Bank.
  • No overdue amount should be there in the account, at the time of takeover.
  • The repayment schedule should be as per the original repayment schedule with the bank from where the loan is taken over.

Other Terms & Conditions

  • All other terms & conditions as per the concerned schemes.
  • Salary of the concerned government employee should get credited in the designated saving bank account with us every month.