Whether you’re planning a wedding, managing medical expenses, funding education, or simply need extra funds for a personal goal, City Union Bank offers a flexible and reliable personal loan solution. With competitive interest rates and a straightforward application process, City Union Bank Personal Loans are designed to meet the diverse financial needs of individuals without requiring collateral.

Overview of City Union Bank Personal Loan

City Union Bank (CUB), a trusted private-sector bank in India, provides personal loans to eligible salaried and self-employed individuals. These loans are unsecured, which means you don’t need to provide any assets or property as security.

Key Features of City Union Bank Personal Loan

• Loan Amount: Up to ₹10 lakhs (based on eligibility and income)
• Loan Tenure: Up to 60 months (5 years)
• Interest Rate: Competitive, usually starting from around 12% per annum (may vary)
• Collateral Required: None (unsecured loan)
• Processing Fee: As applicable (usually 1%-2% of the loan amount)
• Repayment Mode: EMI through ECS, NACH, or post-dated cheques
• Purpose of Loan: Can be used for any personal need (marriage, education, travel, etc.)

Eligibility Criteria

The bank evaluates personal loan applications based on the applicant’s income, employment stability, and credit history.

For Salaried Individuals:

• Age: 21 to 60 years
• Minimum income: As per bank norms (varies by city/branch)
• Stable employment with a reputed company
• Minimum 1 year of work experience

For Self-Employed:

• Age: 25 to 65 years
• Stable business or professional income
• Minimum 2–3 years in the same business or profession
• Satisfactory bank statement and income proof

Required Documents

City Union Bank requires the following documents for processing a personal loan application:

1. Identity Proof – Aadhaar card, Passport, PAN card, Voter ID, or Driving License
2. Address Proof – Utility bill, Passport, Ration card, or Rent agreement
3. Income Proof
   • Salaried: Last 3 months’ salary slips and 6 months’ bank statements
   • Self-employed: Latest ITRs, balance sheet, profit & loss statement, 6 months’ bank statements
4. PAN Card
5. Photographs (passport-size)

Note: Additional documents may be requested at the bank’s discretion.

How to Apply for City Union Bank Personal Loan

You can apply for a City Union Bank personal loan either online or by visiting the nearest branch. Here’s the process for both:

Option 1: Apply Online

1. Visit the official website: www.cityunionbank.com
2. Navigate to the “Loans” section and select “Personal Loan”
3. Fill out the online application form with personal and income details
4. Upload scanned documents (if required)
5. Submit the form for verification
6. A bank representative will contact you for further processing

Option 2: Apply Offline (Branch Visit)

1. Visit your nearest City Union Bank branch
2. Request a personal loan application form
3. Submit the completed form along with all required documents
4. The bank will assess your eligibility and process the application
5. Upon approval, the loan amount is disbursed directly to your bank account

Benefits of Choosing City Union Bank

• Trusted Banking Institution with over 100 years of service
• Transparent Terms and Charges with no hidden fees
• Quick Processing Time for eligible customers
• Flexible Repayment Options to suit different income levels
• Personalized Loan Offers based on relationship with the bank

Things to Consider Before Applying

• Check your credit score before applying to improve approval chances
• Compare the interest rate and processing fee with other banks
• Understand the EMI and total repayment amount using a loan calculator
• Ensure all documents are accurate and up to date
• Don’t borrow more than you can comfortably repay

Frequently Asked Questions (FAQs)

Q1: Is collateral required for a City Union Bank personal loan?
No, the personal loan is unsecured and does not require any collateral.

Q2: How long does it take to get the loan approved?
If all documents are in order, approval can be received within a few working days.

Q3: Can I foreclose the loan early?
Yes, foreclosure is allowed but may come with a small prepayment charge. Check with the bank for current terms.

Q4: What is the minimum income required?
The minimum income requirement varies by location and applicant type. Typically, a stable income with proof is required.

Conclusion

City Union Bank offers a convenient and trustworthy personal loan service that helps individuals manage planned and unplanned financial needs. With competitive rates, no collateral, and a smooth application process, it is an excellent option for those seeking quick, short- to medium-term funding. Whether you’re a salaried employee or self-employed professional, City Union Bank’s personal loan can support your goals with flexibility and ease.