United Festival Loan Scheme
Want to celebrate your festival with fun and gala! United Bank of India
comes in to cater you financial needs during the festival with its unique &
hassle-free Scheme available from all our branches.
Eligibility |
Any salaried
individual (singly or jointly) aged above 21 years and remaining service to cover the
repayment schedule. |
Quantum of
loan |
Min. Rs. 2,000/-
to Max. Rs. 25,000/- subject to 2 times of Gross monthly income of the borrower AND total
deductions from the salary including the EMI for the proposed loan shall not be more than
60% of gross salary. |
| Repayment Period |
10 months |
| Rate of interest (w.e.f. 09.04.2007) |
13.75% p.a. (BPLR + 0.50%)
(Floating) |
| Security |
Standing Instruction from the
borrower in favour of the Bank to deduct EMI from the Salary Disbursal Account or a
written undertaking from the employer of the borrower to deduct EMI and remit the same to
the financing branch till liquidation of loan is to be taken. The employer shall, however,
undertake to continue to disburse salary through the financing branch till the loan
remains outstanding. |
| Prepayment charges |
Nil |
| Processing fee |
1% of the loan amount |
| Disposal of the Loan |
Loan application will be disposed
within ten days of receipt. |
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