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June 8th, 2016, 10:34 AM
Super Moderator
 
Join Date: Mar 2012
Re: Union Bank of India Loan

Union Bank of India (UBI) is one of the largest government-owned banks of India (the government owns 60.13% of its share capital) founded in Mumbai. It now operates through over 4000+ branches across India.

It has a large clientele base of over 49 million. All the bank's branches have been networked with its 6591 ATM's. It offers loans with different product like Home Loan, Personal Loan, Education Loan, Loans for Pensioners, and Loan for Senior Citizen.

Purpose


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

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 an 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

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 18 months

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


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