Personal Loans India : Union Comfort Loan From Union Bank of India
There are many reasons that people today can benefit from personal loans. You can easily borrow just the right amount of money to suit your needs and still have the benefit of excellent interest rates.
If you are one of those individuals who are in need of a larger amount of money, personal loans can also benefit you as well. You can use them to make major home improvements, redecorate, pay of large amounts of debt, or a combination of any of these. You will need to secure large loans with the lender that you choose. You will want to have some form of collateral that has a high value. This is usually in the form of a home or other property. Larger loans are very useful for those people facing more expensive projects and do not want to spend too much money on interest.
When it comes to actually applying for a loan you can fill out your application right there online and quickly submit it. You will not have to worry about long processing times. Once you have looked over your offer carefully and made sure that there are no hidden costs, fees, or penalties, you will be on your way to getting the money you need. Finding personal loans online has made loan shopping easier and much more convenient in today’s busy market.
UNION COMFORT LOAN FROM UNION BANK OF INDIA
ELIGIBILITY
* Age 18 yrs completed.
*Permanent employee of Central Government / State Government/ Defence / Police Force / Autonomous bodies / Public / Joint Sector undertaking / Corporations / Limited Companies / Firms / Established Educational Institutions.
*Individuals having regular income.
*Tax payers, Non-I-T permissible if annual pay Rs.1 lac or more and net take home annual pay Rs.0.40 lac – after deducting EMI of present loan.
*Salary accounts with financing branch.
*Min. 40% marks as per investment grade scoring chart.
PURPOSE
To meet personal expenses or purchase of consumer durables.
QUANTUM
*6 months net salary not exceeding Rs. 1 lac for salaried class.
*For others, 50% of annual income as per last 2 IT returns (not exceeding Rs.1 lac.)
MARGIN
Nil.
REPAYMENT
In 36 Euated Monthly Instalments(EMIs). Repayment starts from the nest month of disbursement of loans.
PROCESSING CHARGES (EXCLUDING SERVICE TAX)
* Rs. 100 upto Rs. 10,000/-
* Rs. 250 upto Rs. 50,000/-
* Rs. 500 above Rs. 50,000/-
SECURITY
One Guarantor having means equivalent to the loan amount, Hypothecation Of Asset wherever applicable.
OTHER CONDITIONS
*Proof of Income (Salary Certificate).
*Proof of Residence (latest Tel. Bill/Electricity Bill/Employer’s Certificate)
*Irrevocable undertaking letter from the employer for recovery of installment from salary every month and to remit to bank directly.
*Irrevocable undertaking by the borrower authorising the Bank to recover the loan installments from his/her salary A/c./SB A/c. with the Branch.
Sources : http://unionbankofindia.co.in/l