Union Bank of India is one of the largest government-owned banks of India (the government owns 63.44% of its share capital).

It is listed on the Forbes 2000, and has assets of USD 13.45 billion

Home Loan

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


Rate of Interest and Processing Charges

-The applicable processing charges are 0.50% of loan amount subject to a maximum of Rs.15,000/- plus service tax as applicable

-Valuation / Legal / Stamp Duty / CERSAI / Memorandum registration charges as per actuals.

Eligibility Criteria

-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
-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