Yes, sure it is, there is a flexible repayment schedule available under the United Bank of India Personal Loan by which the borrower can repay his/her loan in equated monthly installments. So it means if you are salaried and worried about your monthly budget and loan repayment, United Bank of India Personal Loan has the resolution for this issue. Let’s go through this article below and grab more information on the United Bank of India Personal Loan.
What is the Eligibility Criteria for United Bank of India Personal Loan? You can avail of the United Bank of India Personal Loan only if you met the following -
These criteria are important to meet as they show that the applicant is eligible for a loan repayment. Work experience of a salaried individual depicts its permanent position while the regular income satisfies the EMI needs. For What Purpose United Bank of India Personal Loan Can be Borrowed? There are many reasons to borrow a personal loan but do you require a lump sum of money urgently? If the answer is yes, United Bank of India provides you a loan from INR 2 lakh to INR 10 lakh at an interest rate starting of 14.20% per annum. So if there is a wedding, medical emergency, requirement of lump sum for college admission, apply for United Bank of India Personal Loan. Repayment of United Bank of India Personal Loan You can repay your United Bank of India Personal Loan up to 36 months from the date of disbursement, but before superannuation. To understand this better check out the example below. Example - Mr. Ramachandra needs money for his younger son's college education, but due to the last year COVID pandemic all their savings are exhausted, so now he has been looking for a loan. A friend told him about United Bank of India Personal Loan so Mr. Ramachandra has applied for the same. He gets approval of loan amount INR 8 lakh at an interest rate of 14.20% per annum. Now it's time for him to choose the tenure and Mr. Ramachandra selected a tenure of 24 months. So as per the calculation of an EMI calculator he will pay an EMI of INR 38,486. Security for United Bank of India Personal Loan United Bank of India will require the following security for its personal loan -
Special Conditions of the United Bank of India Personal Loan For working women, United Bank of India offers personal loans at a special interest rate of 13.95%. This discounted interest rate will be applicable only for women applicants. Fee & Other Charges for the United Bank of India Personal Loan The applicant needs to pay a processing fee of 1% of the loan amount, this charge will be deducted from your disbursed loan amount, you don’t have to pay this fee upfront to the bank. The due diligence charges will apply to your United Bank of India Personal Loan if it is purchased by outsource agencies and this needs to be paid upfront. No prepayment charges will be applicable to this loan.
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