These Loan Schemes are designed to help you get more out of life.
We need a basic Salary of Rs. 20,000/= ( with fixed allowances )and two Guarantors to secure your loan.
Maximum draw down Rs. 400,000/= or 8 times your basic salary which ever is lower.
Minimum loan amount Rs. 50,000/=
Applicant's age not to exceed 55 years.
Applicant & the Guarantors to be confirmed employees for a minimum one year.
Monthly salary to be routed to the bank.
Repayment period of minimum 12 & maximum 36 months.
Total deductions to salary should not exceed 60% (inclusive of loan installments).
Loan installments should be within 25% of net salary.
Attractive interest rates
Loans can be tailored to fit your requirements
ii. “Apara” - Loans
Our bank has been nominated as a participating bank, by the Sri Lanka Export Credit Insurance Corporation (SLECIC) to their Sri Lanka Overseas Employment Loan Guarantee Scheme,"Apara", to grant loans to persons recruited for overseas employment, through reputed foreign Employment Recruitment Agencies.
These loans are mainly granted, to meet preliminary expenses connected with securing overseas employment such as cost of air fare, agency expenses, passport & visa fees.
The main eligibility criteria is, that the applicant must be a Sri Lankan national in possession of a valid overseas employment contract from a reputed employer, having a minimum validity period of 1 year.
The maximum loan quantum Rs. 200,000.00
Competitive interest rates
Union Bank also undertakes to handle the disbursement of monies to beneficiaries named by account holder on a regular basis, through its network of branches.
