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 PENALTYFloating 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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