Union Personal Loan - Non Salaried

Age

• Minimum age of the applicant should be 25 years.
• Maximum permissible age at the end of repayment to be 75 years. This is subject to assessment at the time of sanction the adequacy of income to meet repayment obligation till the age of 75 years.

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

Minimum Monthly Income

• Non-salaried individuals having regular source of income

Features

• Applicant should be customer of our Bank for at least 24 months prior to considering the loan proposal.
• Applicant should necessarily maintain savings or current account with us with average quarterly balance of Rs.25000 & above for immediately preceding 4 quarters and conduct of account should be satisfactory, i.e. no cheque returns for financial reasons, no adverse feature reported etc.
• The maximum repayment period will be earlier of the following two- 5 years (60 months) and Up to the age of 75 years
• Margin Nil
• No security, subject to the condition that Spouse of the applicant must join as co-applicant.
• In case borrower is single/widow/divorcee, then guarantee of a person having means equivalent to the loan amount.