Unity Small Finance Bank Personal Loan

The key details of Unity Small Finance Bank Loan are mentioned in the table below:

• Instant loan: Avail of 100% digital collateral-free loan instantly. 
• Loan amount: The personal loan amount offered by Unity Small Finance Bank (USFB) is a minimum of Rs. 1 Lakh and a maximum of Rs. 5 Lakhs., based on credit score.
• Interest rate: Personal loan interest rates offered by USFB are fixed for the entire loan tenure and range from 16% to 36% p.a. for an individual.
• Tenure: The tenure of a personal loan offered by Unity Small Finance Bank is from 12 months to 36 months.
• Disbursement TAT: Disbursement turnaround time for personal loans offered by USFB is a maximum of 2 hours
• Cooling-off period: The bank offers a cool-off period of 3 days after the loan is disbursed to make up your mind.
• Processing fee: A processing fee of 3% of the loan amount and e-franking charges will be deducted from the sanctioned loan amount before disbursement.
• Foreclosure: Unity Small Finance Bank personal loan has a lock-in period of 6 months from the day the loan is offered. Post 6 months, the loan can be preclosed with a foreclosure charge of 5% ofthe total remaining loan amount.
• Repayment: You can repay your USFB loan in fixed EMIs, over the loan tenure, as agreed at the time of loan approval. You can pay your EMIs either manually or automate the repayments to avoid missing out on the due date.

Unity Small Finance Bank personal loan interest rates are fixed for the entire tenure of the loan and range from 16% to 36% p.a. for an individual. Interest rates are determined on risk-based pricing parameters. USFB offers competitive interest rates to ensure that customers can access funds at affordable terms.

• Processing fee: A processing fee of 3% and e-franking charges will be deducted from the loan amount before disbursement.
• Foreclosure charges: USFB complies with a lock-in period for the first 6 months of the loan offered, after which preclosure charges of 5% of the total remaining loan amount will be levied.
• Documentation charges: Rs. 1,500 + applicable tax.
• Cheque bounce charges: Rs. 500 + applicable tax.
• Cheque swap charges: Rs. 1,500 + applicable tax.
• Penal charges for default/ delay in the payment: 36% p.a. (3% per month).
• Loan EMI/Tenure/ROI reschedule charges: Rs. 2,000 + applicable tax.
• Document retrieval charges: Rs. 1,000 + applicable tax (if applicable) 
• Statement of account charges: Not chargeable once a year; Rs. 500 + applicable tax after that.
• Stamp duty charges: As per actuals

Here are the eligibility criteria required to be met to avail of Unity Small Finance Bank Personal Loan: 

• Eligible individuals: Resident individuals and Hindu Undivided Families.
• Age: 23 to 55 years.
• Monthly income: At least Rs. 20,000 per month (Rs. 2,40,000 annually).
• CIBIL score: The ideal CIBIL score for a Unity Small Finance Bank loan is 675 or higher. A higher score leads to a greater likelihood of loan approval at a reduced interest rate.
• Employment: The applicant must have a stable job.

The list of documents required to apply for Unity Small Finance Bank Personal Loan is mentioned below:

• PAN card
• Aadhaar card
• 6 months’ bank statement
• Salary slips
• Income tax returns
• Passport size photographs
• Self-attested personal loan form
• Address proof

You can reach out to the Unity Small Finance Bank customer care team through any of the following ways:

• Phone Number: 1800-209-1122
• Email ID: Care@unitybank.co.in
• Registered Address: Unit No. - 1201, 1202 & 1203, 12th Floor, Ansal Bhawan, 16 K.G. Marg, New Delhi - 110001. Telephone No.: 011 - 47414100.