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Personal loans offered by City Union Bank (CUB) can be used for both agricultural and non-agricultural purposes. The City Union Bank personal loan can be obtained by pledging your jewels. You can get a loan amount of Rs.5,000 to Rs.5 lakh for a tenure of 1 year at an interest rate of 9.75% to 12.50% p.a.
Particulars | Salaried |
Interest Rate |
|
Processing Fee | 0.50% of the loan amount |
Loan Tenure | 1 year |
Loan Amount | Rs.5,000 to Rs.5 lakh |
Salary/Income | As per the lender’s terms and conditions |
Employment Status | As per the lender’s terms and conditions |
Credit Score | As per the lender’s terms and conditions |
Lowest EMI per Lakh | Rs.8,885 at 12% p.a. for a tenure of 12 months |
Pre-closure Charges | 2% of the pre-closure amount |
Part Payment | As per the lender’s terms and conditions |
Overdue EMI Interest | As per the lender’s terms and conditions |
*Please note that the rate of interest is subject to change at the discretion of the bank.
4 main factors that affect the interest rate of your personal loan are:
Use the personal loan EMI calculator to find out the monthly cost of your loan and based on the results, you can choose an affordable loan amount and loan tenure.
The other factors that affect personal loan interest rates include credit score and the nature of your job (self-employed or salaried).
To help you understand how personal loan repayment works, here are two examples with different loan amounts.
1. Mr. Indranil has a monthly income of Rs.25,000 takes a loan amount of Rs.1 lakh at an interest rate of 12% p.a. for a loan tenure of 1 year. Here is his loan repayment schedule.
For Salary of Rs.25,000 Per Month
Loan Amount | Rs.1 lakh | |||
Processing Fee | 0.50% | |||
Interest rate | 12% p.a. | |||
Loan tenure | 1 year | |||
Month | Principal Paid(A) (in Rs.) | Interest Paid(B) (in Rs.) | EMI (A+B) (in Rs.) | Outstanding Loan Balance (in Rs.) |
1 | 7,885 | 1,000 | 8,885 | 92,115 |
2 | 7,964 | 921 | 8,885 | 84,151 |
3 | 8,043 | 842 | 8,885 | 76,108 |
4 | 8,124 | 761 | 8,885 | 67,984 |
5 | 8,205 | 680 | 8,885 | 59,779 |
6 | 8,287 | 598 | 8,885 | 51,492 |
7 | 8,370 | 515 | 8,885 | 43,122 |
8 | 8,454 | 431 | 8,885 | 34,668 |
9 | 8,538 | 347 | 8,885 | 26,130 |
10 | 8,624 | 261 | 8,885 | 17,507 |
11 | 8,710 | 175 | 8,885 | 8,797 |
12 | 8,797 | 88 | 8,885 | 0 |
Principal loan amount - Rs.1,00,000
Monthly personal loan EMI - Rs.8,885
Total interest due - Rs.6,619
Processing fee - Rs.500
Total amount payable - Rs.1,07,119
2. Mr. Lakshman has a monthly income of Rs.50,000 and takes a loan of Rs.3 lakh at an interest rate of 12% p.a. for a loan tenure of 1 year. The amortisation table for his loan repayment schedule is displayed below.
For Salary of Rs.50,000 Per Month
Loan Amount | Rs.3 lakh | |||
Processing Fee | 0.50% | |||
Interest rate | 12% p.a. | |||
Loan tenure | 1 year | |||
Month | Principal Paid(A) (in Rs.) | Interest Paid(B) (in Rs.) | EMI (A+B) (in Rs.) | Outstanding Loan Balance (in Rs.) |
1 | 23,655 | 3,000 | 26,655 | 2,76,345 |
2 | 23,891 | 2,763 | 26,654 | 2,52,454 |
3 | 24,130 | 2,525 | 26,655 | 2,28,324 |
4 | 24,371 | 2,283 | 26,654 | 2,03,953 |
5 | 24,615 | 2,040 | 26,655 | 1,79,338 |
6 | 24,861 | 1,793 | 26,654 | 1,54,476 |
7 | 25,110 | 1,545 | 26,655 | 1,29,366 |
8 | 25,361 | 1,294 | 26,655 | 1,04,005 |
9 | 25,615 | 1,040 | 26,654 | 78,391 |
10 | 25,871 | 784 | 26,655 | 52,520 |
11 | 26,129 | 525 | 26,654 | 26,391 |
12 | 26,391 | 264 | 26,655 | 0 |
Principal loan amount - Rs.3,00,000
Monthly personal loan EMI - Rs.26,655
Total interest due - Rs.19,856
Processing fee - Rs.1,500
Total amount payable - Rs.3,21,356
Along with a duly-filled application form, you will have to submit identity and address proofs when applying for a CUB personal loan.
No, as this personal loan is obtained by pledging your jewellery, the jewels act as guarantee or security.
For any queries about your personal loan, you can contact the customer care centre of the bank by dialing 044-7122 5000. You can also visit the bank’s official website and clarify your queries by chatting with Lakshmi, the bank’s virtual assistant. Alternatively, you can also mail your grievance or complaint to customercare@cityunionbank.com or complaints_grievances@cityunionbank.in.
Yes, you can visit the bank's website (https://cubindia.net/ccmswebportal/complaintstatus.aspx), enter the complaint reference number, your mobile number, and captcha, and then click on 'Search' to get your complaint status.
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