UNION PROFESSIONAL PERSONAL LOAN SCHEME

1. PURPOSE

• Loans under the scheme can be availed to meet personal needs

2. STUDENT ELIGIBILITY

• Salaried and non-salaried individuals working/engaged under following professions and having annual salary /earning of Rs. 12.00 Lakh & above are eligible under the scheme.
  
  • Chartered Accountants
  • Company Secretary
  • Cost Accountants
  • Doctors
  • Engineers

• Minimum entry age of the applicant should be 18 years for salaried and 25 for non-salaried individuals.
• Maximum exit age of the applicant should be retirement age for salaried individuals and 65 years for non-salaried individuals.

3. QUANTUM OF LOAN

• The maximum quantum of loan per individual is Rs. 20.00 Lakh subject to repayment capacity

4. REPAYMENT

• No moratorium period is allowed. The repayment should commence from succeeding month of first disbursement of loan
• The maximum repayment period will be Five years (60 months) subject to the condition that repayment should be co-terminus with retirement for salaried and 65 years of age for non-salaried borrower.

5. RATE OF INTEREST

• Please click here to know our latest interest rates

6. PREPAYMENT PENALTY

• There is NO prepayment penalty if the loan is adjusted by the borrower from his/her own verifiable legitimate sources.

7. SECURITY/GUARANTOR

• No security is required subject to the condition that spouse of the applicant must join as co-applicant.
• In case borrower is single/widow/divorced, then personal guarantee of one of the co-employee / person having means equivalent to the loan amount and minimum CIC (CIBIL) score of 700 & above to be obtained.

8. EMI CALCULATOR

• Please click here for EMI Calculator