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Is your Credit Score >750?
From 1st April 2021, the United Bank of India (UBI) and Oriental Bank of Commerce have been merged with Punjab National Bank. United Bank of India gives business loans to micro, small and medium enterprises (MSME) which are provided at affordable interest rates.
The amount of loan provided by UBI is dependent on the type of loan and business needs. The loan is normally sanctioned for a maximum tenure of 5 years which can be extended based on the borrower’s credit score. UBI’s key business loan details are provided below.
United Bank of India Business Loan - Features, Benefits, Highlights
Maximum Loan Amount
Rs. 50 lakh based on 20% of projected yearly sales
Rs. 1 lakh - Rs. 2 crores
Up to Rs. 10 lakhs
Rs.25, 000 - Rs.10 lakhs
Up to Rs. 5 lakhs
0.25% lesser than MSME loan interest rate
Up to 60 months
3 years - 5 years, with extension up to 7 years
Term loans: 3-5 years
Cash credit: Maximum 12 months’ time since the date of withdrawal
Within 3 years
Pre-payment fee charged at 2.36% of the outstanding loan balance
The processing fee is nil for loan amount up to Rs. 25,000
0% against the value of house property or commercial building proposed to be mortgaged
Up to Rs. 5 lakh - 10%
A loan above Rs. 5 lakh - 15% of the cost of equipment
Mortgage of free/ marketable immovable property/ securities like LIC policies, KVPs etc.
Hypothecation of equipment, machinery, vehicles, stocks and other moveable assets/mortgage of chambers and other immovable property
Working Capital or Overdraft
Term Loan or Cash credit
Points to Remember:
Interest on business loans from the United Bank of India starts at the rate of 9.65% p.a.
A CIBIL™ score is a three digit number between 300 and 900 that gives potential lenders a quick idea of your loan
Credit repair involves rebuilding your credit health to a level where you become eligible for loans.
A credit report is a history of your credit behaviour and contains detailed information on all your loan and credit
A credit rating - also known as a credit score - is a 3 digit number between 300-900 that gives potential lenders
A bad credit score is generally one that is less than 650. A credit score is a three digit number in the range of 300-900
Yes. In fact, a credit score of 850 is very good! Most lenders look for a minimum credit score of 750 to approve loans
There are several ways in which you can improve your credit score. Depending on how good or bad your score is,
Is 800 a good credit score? Yes. In fact, a credit score of 800 is very good! Only a small percentage of people reach,
Is it possible to obtain a free credit check or credit report? The answer is yes and no!
Your CIBIL™ Score plays an important role in getting loans and credit cards sanctioned, because it gives lenders
It is not possible for anyone, either lenders or borrowers, to get a CIBIL™ score or credit report for free.
It is important to know that there is no such thing as a CIBIL™ defaulter list. There used to be a defaulter list earlier,
There is really no number that can be established as the average credit score in India. Many people see regular
You can repair your credit absolutely free if you do it yourself! However, many people choose to get professional help
First, it is important to note that there is no ‘Defaulters List’ that is maintained or circulated by CIBIL™ or any of the other
Sourav and Ankit are watching the New York Marathon on TV and decide that they want to run a marathon.
In India, the best credit score to have is one that is 750 or above. The three credit rating agencies that operate in India
Is a credit score of 700 good? While it is not a very bad score, it is not good enough to automatically qualify
It is difficult to get a loan with a credit score of 650. Most banks look for a minimum score of 750 when deciding
It is not likely that you will get a loan with a credit score of 600. Most banks look for a minimum score of 750
It is difficult to get a loan with a credit score of 550. Most banks look for a minimum score of 750 when deciding
A poor CIBIL™ score can increase your financial problems and make it difficult to access credit, whether as a loan or credit.
One common worry that runs through your mind after you have made a credit card settlement is,
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