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Finance

« Pensioners Loan

United Bank of India- United Personal Loan Scheme for Pensioners

As a senior citizen of the society, you command a special respect from United Bank of India. The Bank is offering you a loan scheme for assisting you to meet your various family and personal needs after retirement.

Objective : To extend term loan to you to meet your family and personal expenses.

Eligibility : If you are a pensioner of Central and State Governments, Central and State Governments' Undertakings, Defence Services, reputed Companies, Educational Institutions (Universities, Institutes, Schools and Colleges) and drawing pension from any Branch of United Bank of India, you are eligible for loan under the Scheme from the Branch, where your pension is disbursed.

Age of the Borrower : Your age at the time of availing loan should be such that the entire loan is repaid before your attaining seventy five years of age

Quantum of Loan : A maximum of Rs 2 Lac subject to 12 months' gross pension

Margin : Nil

Processing Charge: 1.00% of the loan amount sanctioned. 

Repayment :

  • Maximum of 48 EMIs where the pensioner is below 70 years
  • Maximum of 36 EMIs where the pensioner is above 70 years
  • Repayment schedule will be fixed in such a way that the EMI plus other deductions will not be more than 40% of the gross monthly pension

Rate of Interest :  For Pensioners MCLR-Y+4.65% i.e 13.45%

Updated on : 21/1/2017