The UWPPL personal loan scheme caters to the various requirements of women, from both salaried and non-salaried categories, engaged in various professions. The UWPPL scheme is designed with power-packed features to provide greater financial stability to women so that they can pursue their dreams without worry in the world. 

This personal loan facility can be used for a variety of purposes, from planning dream vacations, and gala weddings, to buying electronic goods and paying for emergency medical expenses.

Salaried and non-salaried Income Tax assessee women engaged in the following professions and having annual Salary /Income of Rs.5.00 lakh & above are eligible under the scheme:

Women Professionals in fields of –

• Healthcare;

• Accountancy, Audit;

• Wealth Management/Financial Services;

• Engineering, Architect, Interior Designing;

• Fashion designing;

• Art & culture;

• Coaching, Counselling;

• Photography, Film making;

• Mass media, Communications, Publicity;

• Beauty & cosmetics;

• Event Management;

• Legal Services;

• Education & Research;

• Aviation;

Note:

To ensure the above qualifications/profession, it is opined that a valid Certificate & License shall be obtained wherever applicable.

In the case of non-salaried applicants, it may be stipulated that at least 50% of sales turnover is routed through bank accounts for the last two FY to be eligible under the scheme.

The age criteria for availing Union Women Professional Personal Loan Scheme from UBI are as follows: 

• The minimum entry age for salaried applicants should be 21.

• The minimum entry age for non-salaried applicants should be 23.

• The maximum exit age permissible for the scheme will be retirement age for salaried and 65 years for non-salaried applicants.

The maximum quantum of loan per individual is Rs.50.00 lakh subject to the repayment capacity of the applicant.

Reckoning of income for calculation of quantum of loan:

For salaried individuals:

• Income is to be taken as per the latest salary slip/latest ITR/Form-16 for arriving at eligible loan amount/repayment capacity.

• Income from capital gains, speculation income, one-time bulk receipts etc. cannot be considered for arriving at an eligible loan amount as they are not regular.

• ITRs/Form 16 of the last 2 years and the salary slip for the immediately preceding three months may also be obtained for corroborating the income as per the latest ITR/Form-16/salary slip.

• Regular income (salary/pension) is only to be considered for arriving at the eligible loan amount. However, other income which is either appearing in the Salary Slip / Form-16 / IT Return such as bonus, variable pay, performance / production-linked incentives, other allowances etc. may be included in the salary income based on the average of the last two years’ Form-16 / IT Return for calculation of eligible loan amount.

For self-employed individuals:

• Income from capital gains, speculation income, one-time bulk receipts etc. cannot be considered for arriving at an eligible loan amount as they are not regular.

• ITR for the last three years is to be obtained and scrutinized to ascertain the regularity/stability of income level. If the variation in year-on-year income is less than 25% then the Latest income as per ITR of the immediately preceding year is to be considered for arriving at eligible loan amount/repayment capacity.

• However, if the variation in year-on-year income is more than 25% then the average income as per ITR of the immediately preceding three years is to be considered for arriving at eligible loan amount/repayment capacity.

• Supporting documents like P&L, Balance Sheet, and Computation of Income etc also to be obtained for assessment.

The applicable rate of interest on a personal loan is as follows:

EBLR stands for external benchmark lending rate. Union Bank of India has adopted the repo rate as the external benchmark to link its floating rate home loans with effect from 01.10.2019.

The maximum repayment period will be 7 years (84 months) subject to the condition that repayment should be co-terminus with retirement.

There is no prepayment penalty if the loan is adjusted by the borrower from his/her verifiable legitimate sources.

The credit history reports from credit information companies (CICs) such as CIBIL/Experian/Equifax/CRIF should be taken for the applicant & guarantors and should form part of due diligence/appraisal.

The minimum CIC score of the applicant/co-applicant/guarantor shall be 650 and above.

In case the borrower is single/widow/divorced, then the personal guarantee of one of the co-employee/persons having means equivalent to the loan amount and minimum CIC score of 700 & above to be obtained.

**Conditions Apply**

**Contact our nearest Branch for more details**