हिंदी     
screen   : Skip to Navigation | Main Content
  home  Home  »  Retail Banking »  Loans » United Demand Loan
What's New
Start | Stop
  May We Reach ?
United Demand Loan Scheme
 

United Bank of India introduces a unique loan scheme against your savings in the form of NSCs/ KVPs/ Life Insurance Policies (Surrender Value). You can avail up to 100% of the face value of your savings instruments or even more than that in case of NSCs/ KVPs. The salient features of the scheme are as under:


Eligibility:
Any individual having investment in the form of LIP (Surrender Value)/ NSC/ KVP to cover the loan amount in his/ her name and be introduced to the bank.


Purpose:

For meeting all types of personal expenses.

Demand loan - Quantum of loan:

a) Only against LICI Policy -- 90% of Surrender Value of LIP. Non-unit linked LIP of LICI with clearly defined surrender value will only be acceptable for finance.
b) Against NSCs/ KVPs (Face Value)--


Upto 1 year

70%

Upto 1 year

70%

Upto 1 year

55%

>1- 2 years

75%

>1- 2 years

75%

>1- 2 years

60%

>2- 3 years

80%

>2- 3 years

80%

>2- 3 years

65%

>3- 4 years

85%

>3- 4 years

85%

>3- 4 years

70%

>4- 5 years

90%

>4- 5 years

90%

>4- 5 years

75%

 

 

>5- 6 years

95%

>5- 6 years

80%

 

 


 

>6- 7 years

85%

 

 


 

>7- 8 years

90%

 

 


 

>8- 9 years

95%

 

 


 

>9- 10 years

100%


Security : Assignment of LIP or pledge of NSCs / KVPs in favour of the Bank


Rate of Interest:

Term Loan

MCLR-Y+1.80% i.e 10.40%

O.D

MCLR-Y+1.80% i.e 10.40%


United Demand Loan Scheme (against Bank’s own Term Deposit)


Purpose : For meeting all types of expenses.

Margin on accrued value of deposit:

  • OD (subject to annual review and satisfactory conduct of account) : 05%
  • Term Loan :
  1. One year or remaining period of maturity, whichever is earlier: 5%
  2. Two years or remaining period of maturity, whichever is earlier:15%
  3. Three years or more or remaining period of maturity, whichever is earlier : 20%

Rate of Interest :

For Loan/OD facility to deposit holder(s)

1.00% above the rate of interest on deposit

For Loan/OD facility against third party deposit with our bank

2.50% above the rate of interest on deposit(no ceiling),subject to minimum of MCLR

You have a wide range of choice of deposits through as many as 10 different schemes offered by UBI. You may select them according to your best suited mode of meeting.