Union Ashiyana Personal Loan Scheme

Age

• Minimum entry age of the applicant should be 18 years.
• Maximum exit age of the applicant should be retirement age for salaried individuals and 65 years for non-salaried individuals.

CIBIL Score

• A CIBIL score of 730 or above is generally considered good for approving a personal loan.

Required Documents

• Proof of Identity - Passport,PAN card,Voter's Identity card and Driving license
• Proof of Address - Telephone bill,Ration card,Electricity bill and Any letter recognized by the public authority ,Rent agreement
• Bank Account Statement for the last 6 months
• Two latest salary slips/current dated salary certificate with the latest form 16 proof of end-use

Nature of Employment

• Applicant should be an existing or a new home loan borrower

Features

• No moratorium period is allowed. The repayment should commence from succeeding month of first disbursement of loan
• The maximum repayment period will be Seven years (84 months) subject to the condition that repayment should be co-terminus with the Home Loan.
• There is NO prepayment penalty
• No security required.
• However, the House property held as security under Home Loan will not be released till both the Home Loan and Personal Loan liabilities are fully repaid / adjusted. A condition to this effect has to be provided in the sanction letter and the same has to be duly acknowledged by the owners of the house property.
• An undertaking to that extent is to be taken from the borrower as per (Annexure I).
• The undertaking has to be signed by all the applicants/ guarantor of the Home Loan.