Union bank of India home loan | Interest rates | Documents | Eligibility

Union bank of India home loan: Get Details on Interest rates, Documents and Eligibility of Union bank housing loans. Apply online With lowest EMI and Latest Interest Rates 2012-13.

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ELIGIBILITY Required for Union Bank of India Housing Loan -

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
NRIs are also eligible for the home loan. Kindly refer Union Paradise for the same

QUANTUM OF LOAN

Maximum Rs. 5 Crore for metropolitan areas including state capitals

Maximum Rs. 3 Crore for urban areas (other than metros)

Maximum Rs. 1 Crore for rural and semi-urban areas

Maximum Rs. 10 Lakh for repairs

Repayment Period-

Repayment period of up to 25 years; 10 years in case of repairs
Flexible methods of repayment

Processing Fees & Documentation Charges Waived (till 31-dec-2012)

Prepayment Charges : NIL
Interest Rates of Home loans on Union Bank of India -

	Up to 30 lacs	Loans Upto 75 lacs	75 lacs above
Interest Rates	10.50%	10.50%	10.75%

PREPAYMENT PENALTY – Floating rate loans

There is no prepayment penalty if loan’s prepaid from own verifiable sources or taken over by other banks/FIs.
Fixed rate loans
- There is no prepayment penalty if loan’s prepaid from own verifiable sources.
- A take-over penalty of 2% is charged on the average outstanding balance of the preceding 12 months if the loan’s taken over by any other bank / FI or adjusted by the borrower in lump sum from any third party/source (except genuine sale)

GUARANTEE – Third party guarantee is not mandatory

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

Other Available Products of Union Bank of India are -

Source: Union Bank of india Website

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