« Pensioners Loan
Union Bank of India- Union Cash
Purpose: Union Cash is one of the special schemes designed for our customers. You can avail this loan to meet your medium term financial requirements.
Eligibility: To avail the loan the person has to be a retired employee who draws pension through our bank or Family pensioner who draws family pension through our bank.
Quantum of Loan:
Pensioner's age upto 70 years: Rs. 3.00 Lakh
Pensioner's age above 70 years: Rs. 2.00 Lakh
Family Pensioner: Rs. 1.00 Lakh
Nature of Facility: Term loan.
Borrower's age upto 70 years: 5 years
Borrower's age above 70 years: 3 years
Rate of Interest and Processing Charges: Click Here
One time upfront fee of 0.10% of the loan amount, subject to minimum of Rs. 100.
Prepayment Penalty: There is NO prepayment penalty if the loan is adjusted by the borrower from his own verifiable legitimate sources.
A penalty of 2% on the average balance of the preceding 12 months, if the loan is taken over by any other Bank /FI.
Security: No Security required
Guarantee: Personal guarantee of spouse or the person nominated under pension scheme is required.
Insurance: No insurance is required.
Conditions apply. For further details, please visit our nearest branch.