City Union Bank Personal Loan

Details of City Union Bank Loan

City Union Bank offers personal loans against jewellery. That is, an applicant will be required to pledge some jewellery in order to get a personal loan from City Union Bank.

Why choose City Union Bank Personal Loans?

• Easy online eligibility check process.
• Lucrative interest rates.
• Flexible repayment options within the stipulated tenure.
• Nominal processing charges.
• Online application process.
• Online application tracking.
• Hassle-free application process.

Fees and charges of City Union Bank Personal Loan

• Processing charges: 1.10% of the loan amount subject to a minimum of Rs.250
• Unit inspection charges: Nil to Rs.10,000 p.a.

Eligibility criteria for City Union Bank Personal Loan

• Age: As per the eligibility criteria set by most lenders, the age of the applicant should be between 21 years and 60 years. However, it might differ from lender to lender.
• Income: The applicant should have a regular and steady source of income.
• Jewellery: The applicant will be required to pledge some jewellery in order to avail the loan.

Documents required to apply City Union Bank Personal Loan

1)Proof of identity - The following documents can be provided as proof of identity:

• Passport
• Aadhaar card
• PAN card
• Driving license
• Election Commission Card or Voters ID
• Ration Card
• ID card issued by the employer or other banks
• Job card issued by NREGA
• A letter of referral issued by the Unique Identification Authority of India
• ID card issued by a recognised educational institution
• A letter of referral issued by a public authority or servant who is recognised

2)Proof of address- The following documents can be provided as a proof of identity:

• Passport
• Aadhaar card
• PAN card
• Driving license
• Election Commission Card or Voters’ ID
• Ration Card
• Job card issued by NREGA
• Latest electricity bill
• Consumer passbook issued by a gas agency
• Bank account statement
• Telephone bill (not more than 2 months old)
• Rent agreement with full address of the applicant (duly registered with the authority)
• A letter of referral issued by the Unique Identification Authority of India and so on

3) Documents to be executed - The following documents are required to be executed:

• Demand Promissory Note
• Quotation from the vendor
• Loan cum Hypothecation Agreement

FAQs on City Union Bank Personal Loan

What is the repayment tenure for City Union Bank Personal Loan?

The repayment tenure for City Union Bank Personal Loan or CUB Personal Loan is 1 year. However, they offer various flexible repayment options within the tenure.

How do I check the status of my personal loan availed from City Union Bank?

A: If you wish to check the status of your City Union Bank personal loan, you can visit its nearest branch. The officials of the bank will find out the status of your personal loan application and let you know of the same after you provide them with your application reference number and mobile number. You can also call the customer care number of the bank to know your application status.

Do I need to provide collateral for City Union Bank Personal Loan?

A: Yes, you will be required to provide collateral for City Union Bank Personal Loan. The applicant will be required to pledge some jewellery against the personal loan.

How can I repay my City Union Bank Personal Loan?

A: You can repay your City Union Bank Personal Loan through monthly EMIs. You can use the ECS facility or use post-dated cheques for the same.

Is there a margin for City Union Bank Personal Loans?

A: Yes, the margin for City Union Bank Personal Loan is set at 25%, i.e. the applicant will be required to pay 25% of the loan amount from his own funds and the bank will take care of the remaining 75%.

Whom do I contact if I have a query on City Union Bank personal loan?

A: To get in touch for any personal loan queries, you can call City Union Bank customer care number at 044-71225000.