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UCO Pensioner |
Short Term loan is extended through this scheme to Pensioners who receive pension through our Branches. War widows drawing family Pension are also eligible.
Purpose
For meeting medical expenses for self and dependants.
Payment of mediclaim premium.
Meeting marriage expenses.
Educational and traveling expenses.
Repairs/renovation of dwelling house.
Funeral expenses.
Quantum of loan
Depends upon the monthly pension: 10 times of monthly pension or Rs. 1 lac whichever is lower.
There is no processing charge or service charge.
Rate of Interest :
BPLR i.e. 13.50% p.a. at present.
Repayment
Repayable within 12 to 24 months. It can be extended to 36 months in genuine cases but not beyond the period of 70 years age inclusive of repayment period. No pre-payment charge is levied.
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