Senior Citizens
Through our schemes only a Senior Citizen can think of turning over a new leaf. He/ she
can even think of possessing a new flat or constructing a new building of his own, apart
from repair/ renovation/ modification etc. Our scheme suits every pensioner who intends to
undergo medical treatment or to meet unforeseen personal expenditure
a) UNITED PERSONAL LOAN SCHEME:- FOR PENSIONERS
| Purpose |
To extend short
term loan to the pensioners to meet their family and personal expenses. |
| Target group |
All pensioners
of Central and State Govt. Undertakings/ Public Sector Undertakings/ Defence Services /
Reputed Companies/ Educational institutions (Universities, Institutes, Schools and
Colleges)/ Banks drawing pension from the branches of the Bank. |
| Eligibility (age) |
Entire loan is
to be repaid before pensioner's attaining seventy five years of age. |
| Quantum of loan |
A maximum of twelve months net
pension subject to a maximum of Rs.1.00 lac. |
| Margin |
Nil |
| Processing charge |
1% of the loan amount |
| Repayment |
(i) Maximum of
48 EMIs where the pensioner is below 70 years.
(ii) Maximum of 36 EMIs where the pensioner
is above 70 years. |
| Pre payment charges
|
Nil
United Personal Loan Scheme |
b) United Housing Loan Scheme for Pensioners
| Eligibility |
1. All
pensioners of Central and State Governments, Central and State Governments Undertakings,
Defence Services, reputed Companies, Educational Institutions (Universities, Institutes,
Schools and Colleges) including pensioners (VR and VRS) of United Bank of India.
2. Monthly Net Pension: Min. Rs.5,000/-
3. Entry Age: Max. 70 years
4. The pensioner must be physically fit and
mentally alert to execute the documents. Person(s) in paralytic condition or bed-ridden
is/ are not eligible for the loan |
| Purpose |
1. Renovation/
extension/ repair/ furnishing of self-occupied house/ flat;
2. Purchase/ construction of new house/ flat;
3.Purchase of old house/ flat not old over 35
years from the date of completion of construction.
4.Securing shelter in any "Old-Age
Home" |
| Quantum of Loan |
Max. Rs. 2 lac provided total
deduction including EMI of the loan must not exceed 40% of the borrowers' net monthly
pension. If spouse becomes co-borrower and if he/she is also pensioner drawing pension
from the branch, pension of both of them shall be considered for determining the quantum
of loan within the overall ceiling. |
| Repayment Period |
Entire loan has to be liquidated
before borrower's attaining 75 years of age (subject to ceiting of 10 years repayment
period). The age of the 1st pensioner or from whose income (also service holder/
pensioner), the major recovery of loan will be made, shall be the deciding factor for the
period of loan. However, where loan is extended for getting shelter in "Old -Age
Home" total repayment period including the extended period must not exceed 10 years
(120 EMI). United Housing Loan Scheme for
Pensioners |
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