Detail Terms & Condition of the Scheme:
Annexure - 1

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PARTICULARS

DETAILS

1

NAME OF THE SCHEME

'UCO YATRA LOAN SCHEME'

2

OBJECTIVE

To meet the expenses (like airfare/Train/Bus charges, expenses for accommodation, sight-seeing, etc.) for going for pilgrimage/tours/excursions/medical treatment etc. to be undertaken by Self/spouse/children/ parents of proponent within India or abroad. To meet such requirements requests are made by them to avail loan for flight/train, hotel and cash in hand expenses.

3

PURPOSE

Loan for various purposes as under other than speculative purposes

Train/Flight expenditure/Hotel Expenditure

Other Expenses payable to borrower (Maximum 30%

of Total Loan amount)

Declaration regarding the purpose for which loan amount will be taken along with supporting documents and details of family members (spouse/children/ parents).

4

ELIGIBILITY

Indian Resident having regular source of income.

The prospective borrower (both Salaried & Non- Salaried) 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.

5

Age Criteria

Minimum - 21 years.

Maximum - 70 years including Repayment Period.

6

QUANTUM OF LOAN

Minimum: Rs. 30000/- Maximum: Rs 5 Lac

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PARTICULARS

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7

MARGIN

15% of the total estimated expenses.

8

COMPUTATION OF LOAN ENTITLEMENT

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 co- applicant.

The sanctioning authority should be fully satisfied about the borrower's capacity to service the monthly EMI.

9

NATURE OF FACILITY

Term Loan

10

PROCESSING FEE & OTHER CHARGES

Processing fee - 1% (subject to a minimum of Rs.

2000/-)

Documentation Charges - As Applicable for Non- Priority Sector Loans.

CIBIL - Report Pulling Charges - As Applicable.

CERSAI Charges - Extension of Charge with CERSAI

will be applicable as per the guidelines of the Bank

11

RATE OF INTEREST

Base Rate + 2% presently 12.20%

12

PENAL INTEREST

In case of delay in payment of EMI by one month or more, penal interest @ 2% per annum will be charged on the amount of default for the overdue period i.e. with effect from the due date.

13

REPAYMENT

Maximum in 24 EMI (Equated monthly installments)

after one month of disbursement.

However, loan to repay before the borrower attains

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PARTICULARS

DETAILS

the age of 70 years.

14

PREPAYMENT CHARGE

NIL

15

SECURITY / GUARANTEE

Extension of Charge/Mortgage on the property already mortgaged to the Bank. The minimum coverage of collateral security for all loans shall be

1.25 times as per loan policy.

ECS/PDC mandate is required to be obtained from the borrower covering entire period of repayment.

In case of salaried borrower, Personal Guarantee of

Spouse/PF Gratuity nominee. OR

In case of non-salaried borrower, Personal Guarantee of Spouse/ 3rd party guarantee in case of spouse is not alive/applicant is unmarried, having income to that of the borrower.

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