Unity Small Finance Bank Personal Loan
Unity Small Finance Bank personal loan can be used for big-ticket expenses and emergencies. The bank provides instant, collateral-free short-term personal loans up to ₹5 lakh at affordable interest rates starting from 16.00% p.a. The loan can be easily repaid in EMIs in 12 to 36 months.
Apply for Unity Small Finance Bank Personal Loan @ 16.00% p.a. Interest Rates
Unity Small Finance Bank Loan Details
The key details of the Unity Small Finance Bank loan are mentioned below:
| Rate of Interest | 16.00% - 30.00% p.a. |
|---|---|
| Loan Amount | ₹1 Lakh - ₹5 Lakhs |
| Tenure | 12 - 36 months |
| Processing Fee | 3% of the loan amount |
| CIBIL Score | 780 or above |
Features & Benefits of Unity SFB Personal Loan
- Instant loan: Avail a 100% digital, collateral-free loan within minutes.
- Loan amount: The personal loan amount offered by Unity Small Finance Bank ranges from ₹1 Lakh to ₹5 Lakhs.
- Tenure: The tenure ranges from 12 months to 36 months.
- Disbursement TAT: The disbursement turnaround time for personal loans offered by USFB is a maximum of 2 hours.
- Cooling-off period: The bank offers a cooling-off period of 3 days after the loan is disbursed to make up your mind.
- 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 the due date.
Unity Bank Personal Loan Interest Rates & Charges
- Interest rates: 16.00% - 30.00% p.a.
- Processing fee: 3% + e-franking charges will be deducted from the loan amount before disbursement.
- Foreclosure charges: 5% of the remaining loan amount (allowed after a 6-month lock-in period).
- Part prepayment charges: 4% of the principal being repaid.
- E-mandate bounce charges: ₹500.
- Mandate swapping charges: ₹1,500.
- Penalty charges in case of delayed payment: 30% p.a.
- Late fee: ₹100 - ₹500.
- Bounce fee: ₹100 - ₹500.
- Extension fee: ₹100 - ₹500.
- Stamp duty: Subject to the Stamp Act for the applicable State.
- GST: Will be charged extra as per the applicable rates on all the charges (wherever GST is applicable).
*The above-mentioned charges are subject to revision at the bank’s discretion from time to time.
Compare Unity Bank Personal Loan with Other Banks
Below is a comparison of the Unity Bank personal loan with other banks:
| Bank | Loan Amount | Interest Rate | Tenure |
|---|---|---|---|
| Unity Small Finance Bank | ₹1 Lakh to ₹5 Lakhs | 16.00% - 30.00% p.a. | 12 to 36 months |
| HSBC | ₹1 Lakh - ₹50 Lakhs | 9.75% - 12.00% p.a. | 6 to 60 months |
| HDFC Bank | ₹25,000 - ₹50 Lakhs | 9.99% - 24.00% p.a. | 12 to 72 months |
| IDFC FIRST Bank | Up to ₹15 Lakhs | 9.99% p.a. onwards | 9 to 60 months |
| ICICI Bank | ₹50,000 - ₹50 Lakhs | 9.99% - 16.50% p.a. | 12 to 72 months |
| Bandhan Bank | ₹50,000 - ₹25 Lakhs | 8.82% p.a. onwards | Up to 60 months |
| Axis Bank | ₹50,000 - ₹40 Lakhs | 9.99% - 22.00% p.a. | 12 to 84 months |
| YES Bank | ₹50,000 - ₹50 Lakhs | 10.85% - 21.00% p.a. | 12 to 72 months |
| SBI | ₹1 Lakh - ₹35 Lakhs | 10.05% - 15.05% | 6 to 84 months |
| Kotak Mahindra Bank | Up to ₹1 Crore | 10.99% p.a. onwards | 12 to 72 months |
Unity Small Finance Bank Personal Loan Eligibility Criteria
Here are the eligibility criteria required for the Unity Small Finance Bank Personal Loan:
- Eligible individuals: Resident individuals and Hindu Undivided Families.
- Age: 23 to 55 years.
- Monthly income: Steady and consistent monthly income of at least ₹10,000 per month (₹1,20,000 annually).
- Credit score: The ideal score for a Unity Small Finance Bank loan is 780 or above.
- Employment: The applicant must have a stable job.
Documents Required for Unity Small Personal Loan
Below is the list of documents required to apply for the Unity Small Finance Bank Personal Loan:
- PAN card
- Aadhaar card
- 6 months’ bank statement
- Latest 3 months Salary slip
Steps to Apply for Unity Small Finance Bank Personal Loan Online
To apply for the Unity Small Finance personal loan online, follow the steps given below:
- Assess your credit requirements and available credit limit.
- Then check your personal loan eligibility.
- Fill out the application form.
- Upload the required identity, residence, and income proof documents.
- Read and understand the terms and conditions carefully.
- Link the account in which you want the funds to be transferred.
- Within 15 minutes, the loan will be approved and disbursed.
Unity Small Finance Bank Personal Loan Customer Care
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
FAQs
Interest rates for Unity Small Finance Bank personal loan range from 16.00% to 30.00% p.a.
Yes, self-employed individuals can also apply for a Unity Small personal loan.
The maximum loan amount offered by Unity SFB personal loan is ₹5 Lakhs.
The Unity Small Finance Bank email ID is care@unitybank.co.in.
The Unity Small Finance Bank customer care number is 1800-209-1122.
675 is the minimum credit score required for a personal loan from Unity Small Finance Bank.
Reshma Rawat is a passionate writer with a decade of experience in writing for a variety of domains (finance, technology, lifestyle, e-commerce, real estate, etc.). Currently, she is working as Assistant Manager - Content @MyMoneyMantra and writes blogs & webpages on financial products (loans, credit cards, insurance, government financial policies, mutual funds, etc.).
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