He buddy the Union Bank Of India provide the personal loan for the salrary applicants

Eligibility

The applicant has reasonable residual service to ensure that the entire loan is repaid one year prior to retirement.

Should be from the salaried class, having regular source of income and having salary account with our bank.


Documents required

1. Signed application form with photograph

2.Copy of passport/voter ID card/driving license

3. Processing fee cheque

4. Last 3 months bank statement/6 months bank passbook

5. Documentation for salaried applicants:

Latest salary slip

Current dated salary certificate with the latest Form 16

6. Documentation for self-employed applicants:

Latest Bank statement

Latest ITR or Form 16

Amount of Loan

Up to Rs. 5 Lakh

Margin, i.e. Your share

Nil

Security

No security other than the guarantees and undertaking from employee.

Guarantee

2 Guarantees are required

Moratorium Period

Nil

Repayment

Repayment period of up to 5 years

Processing Charges

Processing charges are 0.50% of the loan amount, subject to a minimum of Rs. 500 plus service tax