City Union Bank Ltd offers personal loan as a demand loan to borrowers at an easy City Union Bank Personal Loan rate to enable them to meet their personal financial requirements. We at money superbazaar will provide you detailed information about it as well as other factors such as City Union Bank Personal Loan interest rate levied on it, repayment tenure and mode and City Union Bank Personal Loan eligibility criteria.

City Union Bank Personal Loan Interest Rate:

According to City Union Bank Personal Loan review, loan is available to eligible borrowers at City Union Bank Personal Loan interest rate that stands at base rate + 6.50% per annum = 15.25% per annum.

For calculation of above City Union Bank Personal Loan rate at which loan is granted to those who meet City Union Bank Personal Loan eligibility norms, base rate considered stands at 8.75% per annum.
 
City Union Bank Personal Loan Eligibility Norms: 

As per bank’s official website and City Union Bank Personal Loan review by market experts, following are persons eligible for loan:

a)    Those who are permanently employed with government organizations (state/central), PSUs and reputed companies both private and public etc, educational institutions,

b)    Above should have their net take-home monthly salary equal to at least Rs.5000

c)    Above should have sufficient repayment capacity

Quantum Of City Union Bank Personal Loan:

Loan offered at City Union Bank Personal Loan rate as per information available on bank’s official website and City Union Bank Personal Loan review by market experts, is in quantum that is as follows:

a)    Equal to 5 times of net take home monthly salary 

b)    Above is subject to an upper cap of Rs.25, 000 

c)    No margin is considered before disbursing loan amount.

 Procedure To Be Followed While Applying For City Union Bank Personal Loan:

Online: you may apply online by visiting following link on bank’s official website.

Offline: interested applicants who satisfy above stated City Union Bank Personal Loan eligibility norms, may also approach their nearest bank branch to know more about loan and apply accordingly. Following are documents that will be required to be submitted:

a)    Certificate by employer of borrower that he/she is a bonafide employee of company

b)    Latest salary certificate duly signed by employer of borrower.

c)    Letter of undertaking by employer that EMI amount will be deducted from monthly salary

d)    Letter of authorization by borrower to the effect that deduction shall be made by employer, every month till entire loan amount has been disposed of

e)    Where salary is credited to savings account held with bank, applicant should submit a letter of authority that bank may deduct amount of EMI from his/her account till full amount of loan is repaid.

f)    Letter from borrower that in the event of his/her dismissal from service before end of tenure, remaining amount of loan maybe repaid from his/her terminal benefits etc.

Guarantee for loan has to be by any co-employee of principal borrower who should not act as such in more than one loan accounts.

Tenure Of City Union Bank Personal Loan:

As per City Union Bank Personal Loan review, loan has to be prepaid in a maximum of 36 equated monthly installments that would comprise of loan principal and interest at City Union Bank Personal Loan interest rate.

Repayment Of City Union Bank Personal Loan:

All borrowers should ensure that entire loan amount that had been disbursed to them , is repaid in a maximum of 36 equated monthly installments comprising of loan principal and interest at City Union Bank Personal Loan rate..

Product page URL:    interested persons may visit following link to know more:

http://www.cityunionbank.com/home/cubsulabh.htm

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