Union Bank property loans – Find details on Documents List, Eligibility, Interest Rates and Fees charges.
Union Bank Loan Against property details:
|Max. Loan Amount||10 crore|
|Processing Fees||0.50% of the loan amount|
|Prepayment Charges||Nil or 2%|
|Loan Approval Time||7 Days|
|Loan Repayment||upto 12 years|
Eligibility criteria for Union Bank Loan against property
✓ Age must be above 18 years & below 65 years
✓ Applicant & Co-applicant should be filling Income Tax Return without that no approval for loan.
✓ NRI’s / Partnership firms & Proprietary concerns are also eligible
Minimum Loan amount limit is Rs.5 lakhs
What is the maximum loan amount you can avail from union bank under Loan against property?
The maximum amount of loan sanctioned would be minimum of A, B or C
✓ 50% of the market value of the property (house/ flat/ building etc), valued by Union bank approved valuers
✓ Resident Indian (other than agriculturist) – Rs. 10 crore, NRI – Rs. 5 crore, Agriculturist – Rs. 1 crore
Loan amount as per union bank eligibility calculations based on repayment capacity of the borrowers.
Who can be the co-applicants for the loan?
Father / Mother / Son / Spouse / Unmarried daughter(s) / Siblings, i.e. brother-brother, brother-sister, sister-sister.
The income of these co-applicants can be considered for the purpose of calculation of eligible loan amount.
How much time will it take for my loan to be approved?
It takes 7 days for your loan to be sanctioned, after you have submitted all the required documents.
Other Available Products of Union Bank of India are –
- Union Bank Home Loan
- Union Bank Car Loan
- Union Bank Credit Card
- Union Bank Education Loan
- Union Bank Personal Loan
Source: Union Bank of India Website