What Is Loan ? United Bank Limited (UBL)

What is loan ?

In finance, a loan is a debt provided by an entity (organization or individual) to another entity at an interest rate, and evidenced by a note which specifies, among other things, the principal amount, interest rate, and date of repayment. A loan entails the reallocation of the subject asset(s) for a period of time, between the bank and the borrower.

United Bank Limited

In a loan, the borrower originally receives or borrows an amount of money, called the principal, from Banking Pk, and is obligated to pay back or repay an equal amount of money to Banking Pk at a later time.

The loan is generally provided at a cost, referred to as interest on the debt, which provides an incentive for Banking Pk to employ in the loan. In a legal loan, each of these obligations and control is required by contract, which can also place the borrower under additional check known as loan compact. Although this article focuses on financial loans, in practice any material object might be lent.

Acting as a provider of loans is one of the principal tasks for financial institutions. For other institutions, issuing of debt contracts such as bonds is a typical source of funding.

UBL Cash Plus My Personal Loan

UBL CashPlus is a unique term loan financing product which offers you features, options and flexibility. Designed for salaried Individuals of companies maintaining payroll relationship with UBL, CashPlus term loan has everything that you can wish for.

A UBL CashPlus loan, by nature a need based product, can be broadly classified as a non-end use defined loan. It is clean, installment based financing for a fixed tenor that provides customers with convenient and flexible financial solutions for any intended need

Salient Features

  • Clean Limit up to Rs. 2 Million
  • Quick Processing
  • Competitive Rates
  • Flexible Repayment Terms
  • No collateral requirements
  • Complimentary Credit Insurance
  • Processing fee on approval
  • Eligibility Criteria
  • Minimum age 21 years and Maximum age 60 years (at the end of loan)
  • Salaried individuals whose salaries are being credited in UBL

 

UBL Address Home Loan Facility

Owning a house of your very own is a cherished dream. A lot of planning and hard work is involved in making this dream come true. That is why, at UBL we aim to make your decision easier, by offering you the right ingredients that can help you realize your dream with absolute convenience.

UBL Address empowers you to become the proud owner of a home by offering a variety of product and pricing options that are flexible yet affordable. So choose the best product option and pricing to suit your needs.

All product options are amortized and range over a tenor of 3 – 20 years.

Buying a Home

Why rent when you can buy? Buying a home of your choice has never been so easy. With a maximum financing limit of 70% you can easily buy a house or apartment that best fits your requirements. So go ahead and start the search for your dream home because with easy and affordable installments you need not think of renting a house when you’ve got UBL Address.

Eligibility Criteria

  • Minimum monthly income: Rs.50,000
  • Age: 23 to 65 years
  • Resident Pakistani
  • Self-employed businessman/professional or salaried individual
  • Minimum loan size: Rs. 500,000
  • Documentation Requirements
  • Copy Of NIC
  • Two recent Photographs each of primary as well as co-borrowers
  • Signed Lou (Letter of Understanding), which states the applicable rate at the time of booking of loan.
  • General Income Documents for Salaried and SEB/SEP are given below. However, your exact Documentation Requirement as per your specific Segment & Profession will be communicated to you by our respective ROs.

UBL bank Salary loan

UBL Salary loan helps you achieve your goals. So whether you want to go on a holiday or plan for your childs education. UBL Bank Salary loan will help you fulfill your financial requirements and realize your potential.

Benefits & Features

  • Competitive and flexible interest rate
  • Large financing facility
  • An advance on a fixed sum over a specified tenure
  • Interest charged is linked to Banking Pk prime lending rate
  • Flexible repayment period for up to 4 year but before retirement
  • Eligibility
  • Open to professionals
  • The borrower age should not be less than 25 year and not more than 55 year
  • Monthly installment shall not exceed 40% of employee salary
  • Disbursement of salaries or direct check off from employee or undertaking for regular monthly standing order for loan installments

Documents Required

  • To avail UBL Salary Loan please submit the following documents
  • Completed Loan Application form
  • Proof of identity card or passport
  • Evidence of income from employee, where applicable
  • Salary slips for the last 3 months, where applicable
  • Most recent utility bills CEB/CWA/MT
  • Bank statement for the last six month

 

 

3 comments

  1. Sir I am a govt servant and taking net pay.Rs.13700/ can I take advance against salary?

  2. sir need personal loan/ home loan

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