Union Natural Calamity Loan

An applicant needs to meet the following eligibility conditions to avail this loan:

1. He/she should be a permanent employee of BSNL or employee on permanent deputation to BSNL form the Department of Telecom.
2. Should have salary account with Union Bank.
3. An employee whose family is affected by natural disaster.

Features and benefits of Union Natural Calamity Loan

The Union Bank Natural Calamity Loan comes with a number of attractive features and provides excellent benefits. Listed below are the main features and benefits offered by the scheme:

1. Loan amount: The bank offers 5 times of your basic salary or a minimum of Rs. 5,000.
2. Moratorium period: Not applicable/ Nil
3. Repayment Period: The loan repayment period is up to 30 months.
4. Security – Not required.
5. Processing fees - Nil
6. Prepayment Penalty: Not applicable, provided the loan is paid by the borrower from his/her own legitimate source of income.

Documents required for Union Natural Calamity Loan

The following documents are required to apply for a Natural Calamity Loan offered by Union Bank:

1. Proof of identity ( Passport/ PAN Card/ Employee identity card or any other valid proof
2. Proof of address (Electricity Bill/ Telephone Bill/ Ration Card or any other valid document.)
3. PAN Card.
4. Proof of income ( ITR, Form 16 and last 6 months’ salary slips)
5. 3 photographs.
6. A proof of out-goes ( Loan repayment statement/ LIC Policies or any valid proof )

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