Page 32 - BANKING FINANCE November 2015 ONLINE

PRESS RELEASE

UCO Bank launches 'UCO Yatra Loan Scheme' for travelling in
India and abroad

Detail Terms & Condition of the Scheme: DETAILS

Sl. PARTICULARS ‘UCO YATRA LOAN SCHEME’
No. To meet the expenses (like airfare/Train/Bus charges, expenses for
1 NAME OF THE SCHEME accommodation, sight-seeing, etc.) forgoing for pilgrimage/tours/
2 OBJECTIVE excursions/medicaltreatment etc. to be undertaken by Self/
spouse/children/ parents of proponent within India or abroad. To
3 PURPOSE meet such requirements requests are made by them to avail loan
for flight/train, hotel and cash in hand expenses.
4 ELIGIBILITY Loan for various purposes as under other than speculative purposes
Train/Flight expenditure/Hotel Expenditure
5 Age Criteria Other Expenses payable to borrower (Maximum 30% of Total Loan
6 QUANTUM OF LOAN amount)
7 MARGIN Declaration regarding the purpose for which loan amount will be
8 COMPUTATION OF LOAN ENTITLEMENT taken along with supporting documents and details of family
members (spouse/children/ parents).
Indian Resident having regular source of income.
The prospective borrower (both Salaried & NonSalaried) must be
existing borrowers having property mortgaged in name of our Bank
with regular repayment record of at least 12 installments after
moratorium.
No overdue in existing Loan account.
Valid mortgage have been created in favour of our Bank.
Minimum - 21 years.
Maximum - 70 years including Repayment Period.
Minimum: Rs. 30000/- Maximum: Rs 5 Lac
15% of the total estimated expenses.
Minimum gross Income of Rs 30,000/- p.m. at all centers
After all deductions of like PF, Insurance Premium, Income Tax,
Professional Tax and other statutory deductions, any other loan
installments including EMI of the proposed loan, Net Take Home
Pay should not be less than 40% of gross salary/income or
Rs.10000/- whichever is higher.
Income of spouse/daughter/son/parents may be considered for
enhancing the loan entitlement. In such case spouse/daughter/
son/parents will be coapplicant.
The sanctioning authority should be fully satisfied about the
borrower’s capacity to service the monthly EMI.

32 | 2015 | NOVEMBER | BANKING FINANCE

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