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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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