City Union Bank Personal Loan Interest Rates

City Union Bank (CUB) personal loans can be used for both agricultural and non-agricultural purposes. You can get a City Union Bank personal loan by surrendering your jewellery. You can borrow between Rs.5,000 and Rs.5 lakh for a period of one year at an interest rate ranging from 9.75% to 12.50% p.a.

Details of the City Union Bank Personal Loan Schemes

City Union Bank personal loan interest rate

9.75% p.a. - 12.50% p.a.

Maximum Amount

Rs.5 lakh

Term

One year

Preclosure Fee

2%

Processing Charge

0.50%

Characteristics of the City Union Bank Personal Loan

Here are the benefits of a personal loan from City Union Bank-

  • You can use the fund to purchase new consumer durables such as furniture, washing machines, televisions, wet grinders, computers, laptops, refrigerators, electronic devices, and so on.
  • The maximum amount for a loan is Rs. 1 lakh and the bank retains a 10% margin (of the total value of products acquired).
  • The duration will range from 36 to 60 months.
  • You must ensure consumer durables. You must also obtain personal life insurance with a limit equal to the value of the products purchased.
  • The loan amount ranges from Rs. 25,000 to Rs. 1 lakh/for non-salaried individuals, 50% of gross yearly income as reported in the most recent ITR/for salaried individuals, and the net take-home pay for the previous ten months.

CUB Personal Loan Interest Rate 2024

Here is the City Union Bank personal loan interest table-

Minimum: 

12.00% p.a.

Maximum: 

12.50% p.a.

Who Will be Eligible for the City Union Bank Personal Loan Schemes?

  • If you are employed, you must be at least 21 years old. At the time of loan application, the maximum age limit is 60 years.
  • Your monthly salary as a salaried worker must be at least Rs. 15,000
  • If you are self-employed, professional, or the business owner, you must be at least 25 years old.
  • Such applicants must reveal an annual income of at least Rs. 2,50,000.
  • When submitting a loan application, applicants must follow KYC guidelines.

Documents Required to Opt for the Personal Loan Scheme from City Union Bank

  • ID Proof
  1. PAN card
  2. Driving license
  3. Passport
  4. Aadhaar card
  5. Voters' ID
  6. Ration Card
  7. Employer or another bank-issued identification card
  8. NREGA issues a job card.
  9. The Unique ID Authority of India issued a referral letter.
  10. An identification card issued by a recognized educational institution
  11. A letter of referral is issued by a recognized official authority or servant.
  • Address Proof

  1. PAN card
  2. Driving license
  3. Passport
  4. Voters' ID
  5. Aadhaar card
  6. Ration Card
  7. NREGA issues a job card.
  8. The most recent electricity bill.
  9. A gas company issued consumer passbook.
  10. Statement of bank accounts
  11. The telephone bill (not more than two months old).
  12. Rent agreement, including the applicant's full address (duly registered with the authority).
  13. A letter of reference from the Unique Identification Authority of India, for example.
  14. Demand Promissory Note
  15. Other documents requested by the bank
  16. Latest passport-size photographs

Other Fees of the City Union Bank Personal Loan Scheme

Processing fees are 1.10% of the loan amount, with a minimum of Rs.250.

Unit inspection fees: nil to Rs.10,000 per year

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