#1
June 8th, 2016, 09:10 AM
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Union Bank of India Loan
Can you tell me about the eligibility requirement for Loan in Union Bank of India (UBI)? Also tell me about the Margin for Loan in Union Bank of India (UBI)?
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#2
June 8th, 2016, 10:34 AM
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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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