As you are looking for information about Home Loan Scheme of Union Bank of India for your reference:

Union Bank of India Home Loan

PURPOSE
Purchase/ construction of house/ flat
Repairs/ improvements/ extension of the existing residential property.
Take-over of housing loan availed from another bank / FI
Purchase of plot and construction of house thereon**

ELIGIBILITY
Indian citizen above 21 years
Individual, either singly or jointly with other family members viz. father, mother, son and/or spouse, who have regular sources of income as co-applicants.
Siblings, i.e. brother-sister, brother- brother, sister-sister can be permitted as a applicants/co-applicants subject to the property must be in the joint names of the siblings.
NRIs are also eligible for the home loan. Contact our nearest branch for further details.

QUANTUM OF LOAN
Depending on repayment capacity of the borrower and value of property
Maximum Rs. 30 Lakhs for Repairs.

MARGIN, I.E. YOUR SHARE
20% of the total cost of the purchase/ construction of house/ flat for loans upto Rs. 75 Lakhs
25% of the total cost of the purchase/ construction of house/ flat for loans Above Rs. 75 lakhs to Rs. 2 Crores
35% of the total cost of the purchase/ construction of house/ flat for loans Above Rs. 2 Crores
20% of total cost of the repairs

MORATORIUM PERIOD
Moratorium period of up to 36 months.

REPAYMENT
Repayment period of up to 30 years
10 years in case of repairs
Flexible methods of repayment

RATE OF INTEREST AND PROCESSING CHARGES
Please click here to know our latest interest rates
No processing charges (offer valid till 31/03/2017)
Valuation / Legal / Stamp Duty / CERSAI / Memorandum registration charges as per actuals.

PREPAYMENT PENALTY
Floating rate loans

There is no prepayment penalty if loan is prepaid from own verifiable sources or taken over by other banks/FIs.

SECURITY
Equitable mortgage (E.M.) of the residential property

GUARANTEE
Third party guarantee is not mandatory for Resident Indian
One/two guarantors of Indian Residents, having means equivalent to that of the loan amount, is to be provided by the NRI applicant

INSURANCE
Property insurance is compulsory to the tune of the value of the property


LIST OF DOCUMENTS

Proof of identity (any of the following)
Passport
PAN Card
Employee identity card
Any other valid proof

Proof of address (any of the following)
Electricity bill
Telephone bill
Aadhar
Any other valid proof

PAN Card

Last 12 months bank statement

Proof of income
For salaried class
Last one year ITR
Form-16/ letter from Employer
Last 6 months salary slip
b. For business class
Last three years ITR
P and L Balance sheet
Agriculturists
Income certificate from concerned revenue officer (Tahsildar)

Proof of land holding
Property papers
Allotment letter
Advance money receipt
Title Deed

3 photographs

Proof of out-goes
Loan repayment statement, if any
LIC Policies, if any
Valid proof of any other out-go
Additional document required for NRI
Copy of Visa stamped on the passport
Latest work permit
Employment contract (if the contract is in any language other than English, the
same has
to be translated into English and attested by Employer/Indian Embassy)

Any other document required as per the application form)