City Union Bank (CUB) offers personal loans to fulfil your diversified personal requirements. You can meet your genuine personal expenses such as purchasing a television or a refrigerator or furniture with your CUB Consumer Loan- which is a personal loan offered by the bank. However, the amount received as person loan cannot be used for purchasing second hand consumer durables such as vehicles or jewelleries. You can apply for a CUB Consumer Loan offered online.
City Union Bank offers personal loans for different tenures at attractive rates of interest. However, while deciding the interest rate on your personal loan, the bank may consider certain factors such as your income, eligibility and repayment capacity. City Union Bank charges 16.50% as interest rate on its personal loans. The bank may change its existing interest rate on personal loan without giving you any prior notification.
|Interest rates||16.50 (Base rate plus 5.50% )|
|Loan amount||Maximum amount: 10 months net salary and subject to maximum of RS.50000|
|Loan tenure||36 Months (Maximum)|
|EMI per lakh (based on lowest interest rate)|
(Calculate EMI on your Personal Loan)
|Processing fees||1.25% of the total loan amount.|
|Base Rate||11.00% w.e.f. 01-10-2013|
The City Union Bank Personal Loan interest rates can be calculated by using a Personal Loan EMI Calculator. In the calculator, you need to enter your loan tenure, principal amount, rate of interest and processing fees (if applicable). Once, you put the details, the calculator will instantly reveal your monthly EMIs. The calculator will also reveal your personal loan amortization table that contains a comprehensive break up of your loan repayment including the amount you have already paid and the outstanding amount.
Example: Suppose, you have taken a personal loan from City Union Bank at 16.50% for 5 years. The loan amount is Rs. 1 lakh and the processing fees is 1.25%. In that case, your loan amortization table will include the followings:
|Year||Principal paid (Rs.)||Interest paid (Rs.)||Balance amount (Rs.)|
Listed below are the key factors that may affect your City Union Bank Personal Loan interest rates in 2015:
Therefore, it is important, you understand of the above-mentioned factors before you apply for a personal loan with City Union Bank.
It is always good to have a good CIBIL score so that you can negotiate with your bank to get discount on your personal loan interest rate. If your CIBIL score is 750 or above, you may receive lower rate of interest on your personal loan than somebody else who’s CIBIL score is below 750. So, always keep a track of your CIBIL score and try to maintain a good credit history by paying your debts on time and not taking too many unsecured loan and credit cards.
An understanding of the below mentioned key things will help you have a better experience when you apply for a personal loan with City Union Bank in 2015: