Eligibility for Union Bank of India Personal Loan:
To avail Union Bank personal loan, the following eligibility criteria needs to be considered:
For Union Personal- Salaried Eligibility (other than government employees)
web site link:
instaloan.unio...
Loans under this scheme are divided into two categories.The eligibility criteria for both the criteria are mentioned here.
Tie-up:
1)Permanent employees of reputed private organization/institutes in India
2)May or may not be a salary account holder
3)Minimum monthly gross salary of Rs 15,000 (Rs 20,000 for those in Delhi, Mumbai, Bangalore, Kolkata, Pune, Chennai, Ahmedabad)
Non Tie-up:
1)Confirmed employees of reputed private institutes/organization in India
2(Should be a bank customer for at least 6 months before applying for the loan
3)Should maintain salary account with the bank
4)Should be earning at least a gross monthly salary of Rs 15,000 (Rs 20,000 for those residing in Ahmedabad, Bangalore, Chennai, Pune, Delhi, Kolkata, Mumbai)
For Union Personal Loan - Non-salaried:
QUANTUM:-
Minimum Amount - No limit
Maximum quantum Scheme A (tie-up):
Rs.15.00 Lakh.
Maximum quantum Scheme B (tie-up):
New/first time borrower - Rs.5.00 lakh
Existing borrower with a satisfactory repayment record of 2 years - Rs.15.00 lakh
REPAYMENT TENURE:-
The maximum repayment period will be Five years (60 months) subject to the condition that repayment should be co-terminus with retirement
MORATORIUM:-
No moratorium period is allowed. The repayment shall commence from succeeding month of first disbursement of loan.
SECURITY:-
No security, subject to the condition that Spouse of the applicant must join as co-applicant.
GUARANTEE:-
In case borrower is single/widow/divorcee, then personal guarantee of one of the co-employee with sufficient means.
Minimum entry age -
18 years for salaried individuals
25 years for non-salaried individuals
Maximum exit age - Retirement age for salaried individuals and 65 years of for non-salaried individuals
Documents Required for Union Bank of India Personal Loan:
The following documents are needed to apply for a personal loan with Union Bank
Complete application form and credit information
KYC documents (applicant and co-applicant both)
ID Proof (Passport/PAN/Aadhaar/Voter ID)
Address Proof (Passport/Aadhaar/Driving License)
Two latest passport size photographs
Business/Office address proof
Bank statement for past 12 months
For salaried individuals - last 3 months salary slips, last 2 years ITR/Form 16
Union Bank of India Personal Loan Processing fees and Charges:
Processing Charges of Union Personal:
Union Personal non-salaried/salaried/government employees with or without tie-up- 0.50% of the loan amount subjected to a minimum of Rs 500 to a maximum of Rs 7500
SRLG- NIL
Interest rates:-
Rate of Interest of Retail Lending Schemes Updated on 28.05.2024
EBLR as on 11-12-2023 is 9.25%; i.e. RBI Repo Rate (6.50%) + Spread (2.75%)
Schemes CIBIL score Interest Rate
(p.a.)
Union Personal - Under Tie-up 700 & above 13.35%
below 700 13.45%
Union Personal - Under Non Tie-up 700 & above 14.35%
below 700 14.45%
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10 сен 2024
