Personal Loan
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To,TransUnion CIBIL Limited[Formerly known as Credit Information Bureau (India) Limited]One Indiabulls building ,Unit No 1901 – 1905,19th Floor, Tower 2A-2B, Jupiter Mill compound,Senapati Bapat Marg, Lower Parel, Mumbai 400 013
Sub: Grant of Consent
Dear Sirs,
In connection with submission of the application for my credit information offered by CIBIL (“Consumer Credit Information”) through Wishfin and delivery of the Consumer Credit Information to the Company, I hereby acknowledge and agree to the following:
- The Company is my lawfully appointed agent and he / it has agreed to be my agent for the purposes, including, without limitation, to receive the Consumer Credit Information from TUCL on my behalf and use it in the manner consistent with the Agreement entered into between the Company and TUCL, and the Company has granted its consent for being appointed for the aforesaid purpose.
- I grant my unconditional consent to the Company to receive the Consumer Credit Information from TUCL on my behalf and use it in the manner consistent with the consistent with the Agreement entered into between the Company and TUCL, as the case may be, and the Company has granted its consent for being appointed for the aforesaid purpose. I hereby represent and acknowledge that: (a) I have carefully read the terms and conditions of the Agreement entered into between the Company and TUCL understood the same; or (b) the Terms of Understanding in relation to the use of the Consumer Credit Information has been agreed between me and the Company.
- I hereby expressly grant unconditional consent to, and direct, TUCL to deliver and / or transfer my Consumer Credit Information to the Company on my behalf.
- I shall not hold TUCL responsible or liable for any loss, claim, liability, or damage of any kind resulting from, arising out of, or in any way related to: (a) delivery of my Consumer Credit Information to the Company ; (b) any use, modification or disclosure by the Company of the contents, in whole or in part, of my Consumer Credit Information , whether authorized or not; (c) any breach of confidentiality or privacy in relation to delivery of my Consumer Credit Information to the Company ; (d) for any use made by the Company which is contrary to the Agreement entered into between the Company and TUCL.
- I acknowledge and accept that: (a) TUCL has not made any promises or representations to me in order to induce me to provide my Consumer Credit Information or seek any consent or authorization in this regard; and (b) the implementation of the Agreement between TUCL and the Company is solely the responsibility of the Company
- I agree that I may be required to record my consent / provide instructions electronically and in all such cases I understand that by clicking on the "I Accept" button below, I am providing "written instructions" to Wishfin authorizing Wishfin to obtain my Consumer Credit Information from my personal credit profile from TransUnion CIBIL LIMITED, [formerly known as Credit Information Bureau (India) Limited]]. I further authorize Wishfin to obtain such information solely to confirm my identity and display my Consumer Credit Information to me. Further in all such cases “By checking this box and clicking on the ‘Authorize button, I agree to the terms and conditions, acknowledge receipt of TUCL privacy policy and agree to its terms, and confirm my authorization for Wishfin to obtain my Consumer Credit Information .
- I understand that in order to deliver the product to me, I hereby authorize Wishfin, to obtain my Consumer Credit Information from TUCL.
- By submitting this registration form, I understand that I am providing express written instructions for Wishfin to request and receive information about me from third parties, including but not limited to a copy of my consumer credit report and score from consumer reporting agencies, at any time for so long as I have an active Wishfin account. I further authorize Wishfin to retain a copy of my information for use in accordance with [Wishfin’s] Terms of Use and Privacy Policy.
- I UNDERSTAND THAT THE PRODUCT IS PROVIDED ON AN “AS-IS”, “AS AVAILABLE” BASIS AND TUCL EXPRESSLY DISCLAIMS ALL WARRANTIES, INCLUDING THE WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, AND NON-INFRINGEMENT.
- I shall not sue or otherwise make or present any demand or claim, and I irrevocably, unconditionally and entirely release, waive and forever discharge TUCL , its officers, directors, employees, agents, licensees, affiliates, successors and assigns, jointly and individually (hereinafter “Releasee”), from any and all manner of liabilities, claims, demands, losses, claims, suits, costs and expenses (including court costs and reasonable attorney fees) (“Losses”), whatsoever, in law or equity, whether known or unknown, which I ever had, now have, or in the future may have against the Releasee with respect to the submission of my Consumer Credit Information and / or my decision to provide TUCL L with the authority to deliver my Consumer Credit Information to the Wishfin . I agree to defend, indemnify, and hold harmless the Releasee from and against any and all Losses resulting from claims made against TUCL L by third parties arising from and in connection with this letter.
- I agree that the terms of this confirmation letter shall be governed by the laws of India and shall be subject to the exclusive jurisdiction of the courts located in Mumbai in regard to any dispute arising hereof. TUCL is entitled to assign its rights hereunder to any third person without taking my prior written consent.
Yours faithfully,
Name :____________________________Address : ____________________________Date : ____________________________
Are you worried about the expenses coming up at once? Be it your daughter’s wedding, renovating your home, or money for your son’s education abroad, no matter what would be the reason United Bank of India with its best of Personal Loan product is all set to met all your needs. You can easily avail this loan at low interest rates and less processing fee, as it has been thoughtfully designed to cater every need of yours. In order to grab more information about United Bank of India Personal Loan, go through this page.
United Bank of India Personal Loan Interest Rates
United Bank of India Personal Loan Eligibility Criteria
Salaried:
A salaried person, with permanent service and regular income for at least 2 years.
Pensioners:
A pensioner of Central and State Governments, Central and State Governments’ Undertakings, Defence Services, reputed Companies, Educational Institutions, drawing pension from any Branch of United Bank of India,
United Bank of India Personal Loan Eligibility
Now let us understand the loan amount eligibility with the help of an example below.
Suppose you are working in a renowned company and earning an attractive salary of ₹80,000 monthly. So, after deducting all your necessary monthly expenses, you would be saving around 40%-50% of your income each month. Let’s say, if you are able to save around 50% of your monthly income, you might be interested to know your personal loan eligibility.
In bank’s point of view, it will assume that you are able to save around ₹40,000 per month out of your monthly income of ₹80,000. So, your savings can be used to repay the EMIs of your personal loan. So, now, if you calculate your amount, tenure and rate of interest, you will get to know your EMIs that you will have to pay every month so as to repay the loan amount that you are eligible for.
Amount-₹1 Lakh
Loan Tenure-3 years
Rate of Interest-14% p.a.
Your monthly EMI will be ₹3,418
So your calculation for personal loan would be
₹1 Lakh x 40,000/3418=₹11.70
So, your personal loan amount eligibility ranges between ₹11.70 Lakhs
United Bank of India Personal Loan EMI Calculator
An EMI is a sum of interest and principal which is payable each month on personal loan. So, now you must be wondering how United Bank of India calculates your EMI when it comes to personal loan. Well, your EMI gets calculated in a very easy and simple manner. The EMI Calculator takes into account your loan amount, interest rate and tenure of the loan in order to calculate your monthly installments.
Moreover, firstly the calculator will computes the interest component and then the principal amount that you will have to pay towards the personal loan.
For Example: If you are interested in availing a loan of ₹2,00,000 from United Bank of India for 3 years, and the bank is charging an interest rate of 14% per annum, EMI, total interest outgo and total amount payable from your pocket at the end of your loan tenure will be:
Table Showing EMI, Interest Outgo, and Total Repayment Amount
EMI, Total Interest Outgo, Total Repayment (Interest + Principal)
Year | Principal | Interest | Balance Amount |
---|
1 | ₹ 57,631 | ₹ 24,395 | ₹ 1,42,368 |
2 | ₹ 66,238 | ₹ 15,788 | ₹ 76,130 |
3 | ₹ 76,209 | ₹ 5896 | ₹ 0 |
Documentation Required
Income Documents
- Latest 3 years Payslip, 6 months Salary account bank statement &, Latest year Form 16.
- Your current obligations i.e. the other installments (EMIs) you are currently paying, the number of credit cards and credit limits you have or use.
KYC Documentation
- PAN Card, secondary ID Proof (DL Adhaar card, Voter’s ID) & Passport size photo)
Proof of Employment/Business Continuity
- Salaried: Form 16 or Appointment letter, dated 2 years or earlier period
United Bank of India Personal Loan for Pensioners
All the pensioners have a reason to rejoice as United Bank of India offers them a lucrative deal of personal loan so that all their personal needs can easily be fulfilled. The pensioners of Central and State Governments, Central and State Governments’ Undertakings, Defence Services, reputed Companies, Educational Institutions, drawing a pension from any Branch of United Bank of India are eligible to avail this unsecured credit facility. The pensioners can either visit the nearest bank branch or they can also apply online to avoid any sort of hassle. The bank asks them to submit the duly signed application form along with all the required documents in order to get the instant funds for multiple needs.
Features & Benefits
- Maximum Loan Amount
- Convenient Loan Repayment Options
- Both Residential and Commercial Property Accepted as Collateral
- Minimal Documentation and Faster Approvals
- Attractive Interest Rates