| Particulars | Salaried | Self-employed |
|---|---|---|
| Rate of Interest | 14.4 % p.a. | 14.4 % p.a. |
| Loan Value | Maximum Rs.5 lakhs | Maximum Rs.10 lakhs |
| Tenure of the loan | Maximum 5 years | Maximum 5 years |
| Least EMI |
Rs.2347.61 (Calculated on the loan value of Rs 1 lakh at the lowest interest rate for the longest tenure.) |
Rs.2347.61 (Calculated on the loan value of Rs 1 lakh at the lowest interest rate for the longest tenure.) |
| Processing Fee | 0.5 % of the total loan value, minimum being Rs.500 + GST | 0.5 % of the total loan value, minimum being Rs.500 + GST |
| Age | 21 - 58 years | 21 - 58 years |
Union Bank offers personal loans to fulfil your personal needs. The loan can be availed for meeting personal goals such as children’s education, house renovation, pleasure trips, etc. This loan works as a lender of last resort during a financial crisis. The loan is, however, majorly offered to employees at NVS and KVS, employees at PSU, government, existing customers of home loans, etc.
The bank charges different rates of interest on these loans depending on the tenure and category under which you are eligible. The interest rates start from 12 % and can go up to 14.75 %. Factors such as your CIBIL score, income, relationship with the Union Bank determine the actual interest rate imposed.
You can calculate EMI on loan using an EMI calculator available at banks or financial sites effortlessly. Just fill in the principal amount, the rate of interest, tenure and processing fee, you will find an answer to the total interest payable along with the loan amortisation table. This table shows the complete breakup of the repayment of your personal loan.
