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UMUCB HOLIDAY LOAN SCHEME

Eligibility Individuals aged between 21 to 58 years:
Salaried employees / Professionals / Self-employed / Businessman / Staff members
Type of Advance Demand Loan (Reducible as per repayment schedule)
Quantum of advance Minimum: Rs.50000/-
Maximum: Rs.2 Lac
Maximum Eligibility Net take home pay / income (net of EMI of existing and proposed loan(s) should not be less than 50% of the gross monthly salary / income of applicant(s).
Purpose To meet the expenses (like Air / Train / Bus Fare, expenses for accommodation, sightseeing, etc.) for going for pilgrimage / tours / excursions etc. undertaken / to be undertaken by Self / spouse / children / parents / family members of the applicant / borrower within India or abroad.
Margin 25% of the proposed expenditure / requirement.
Repayment Maximum in 24 Equated Monthly Installments subsequent to the month of first disbursement from loan account.
Security For Loan up to Rs.1 Lac:
Liquid securities like FDR / LIC Policy / Govt. Securities, NSC, KVP. to the extent of 90 % of Surrender value of securities.
Third Party Guarantee with worth of Guarantor(s) not less than Loan amount.

For Loan exceeding Rs.1 Lac:
  1. Equitable /Registered mortgage of immovable property, and / or liquid securities like FDR / LIC Policy / Govt. Securities, NSC, KVP, Bonds etc to the extent of 90% of Surrender value of such securities exceeding Rs.1 Lac.
  2. Party Guarantee with worth of Guarantor(s) not less than the Loan amount.
Interest Rate (Floating) Secured Portion of Loan: 2% at monthly rests.
Processing Charges Rs. 500/- per proposal

Terms and conditions apply:

  1. Applicant should have Travel Insurance policy.
  2. In case of International tour the passport & tourist visa to be produced for verification along with documents.
  3. Finance is available in Indian rupees only.
  4. Post-dated cheques should be obtained for entire EMIs.

Copy of estimates given by Travel agency/tour operator should accompany application form

Loan at the sole discretion of The Udaipur Mahila Urban Cooperative Bank Ltd

All disputes arising out of this scheme shall be decided by the Courts under Udaipur jurisdiction. For further information, please contact the nearest Branch of the Bank.