City Union Bank, earlier know as The Kumbakonam Bank Limited, was incorporated as a limited company on 31 October 1904. The bank played the role of regional bank in Thanjavur District Tamil Nadu, it’s main purpose is the help deposit holders to get financial help, against their deposit in a time of need for medical expenses, family urgencies, expansion of business etc. City Union Bank or CUB provides personal loans to many of their deposit holders.
You are eligible for a personal loan from City Union Bank Personal Loan if you meet the below mentioned criteria:
Documentation that will be required to be submitted as well for City Union Bank Personal Loan, if there’s any discrepancy with these documents then the loan eligibility also is questioned.
When an applicant applies for a personal loan with City Union Bank, the bank starts a credit check on the applicant to ensure the applicant can repay the loan applied for . If the CIBIL Score is above the required score, the bank will then consider the application and will take a look at the applicant’s credit report as well. The bank also takes into consideration the loans the previous loans applied and taken by the applicant. The bank will consider the repayment time and tenure to ensure that payments are done in a timely manner. It also considers the types of loans that the applicant has taken, if it is a good mix of unsecured or secured. If an applicant has settled a previous loan because he/she has any financial constraints, then it gets recorded in the credit report. This record is maintained for a period of 6 years. These settlements are considered a negative mark in your CIBIL report, and can also have City Union Bank question your ability to repay the loan and can even refrain from offering you a personal loan.
A. The maximum amount of the loan against deposit is 80% of the balance in the deposit, if the deposit is in the name of the minor, the guardian can raise the loan on behalf of the minor.
A.The minimum age should be 21 years and maximum of 58 years. In case of a minor, the guardian can apply on their behalf.