Table of Content
Completion of under construction residential unit. Union Bank of India Home Loan EMI Calculator helps the customers to calculate the EMI on the amount they want to borrow. Our Relationship executive will co ordinate with UBI branch officials for disbursement of the loan. It takes 5 days for your loan to be sanctioned, after you have submitted all the required documents. For NRI opening of a NRE account with Union Bank of India is mandatory for availing a loan. One/two guarantors of Indian Residents, having means equivalent to that of the loan amount, is to be provided by the NRI applicant.
Build your dream home with a loan from Union Bank. Your housing loan is based on the above factors and the current interest rate in Union bank of India is given below. As a special gesture Union bank of India offers better interest rates for those borrowers who have lesser loan requirements.
Q. Is a guarantor necessarily required to fetch a Union Bank of India home loan?
It can also be directed to the retail hub if available in your vicinity. In fine, they offer a seamless loan processing experience to you. Union Home Open new doors to happiness with Union Bank of India... Union Awas Step into you dream home with special schemes...
Union Bank of India offers two different schemes Fixed rate of interest Floating rate of interest. Please click here for information on rate of interest. 20% of the total cost of the purchase/ construction for loans above Rs.30 lakhs and up to Rs.75 Lakhs.
Key Features of Home Loan
For purchase of plot for construction the amount is 40 % of the loan amount eligibility subject to 25 % margin on the cost of plot. The maximum tenure of the loan should terminate at 70 years of age. Submit the application form, and the lender/lender representative will call you. Mention your loan requirements and verify them. The house purchase loan amount can be up to Rs 10 lakhs in the semi-urban areas and Rs 7 lakhs in rural areas. For renovation and repair, the loan amount can be up to Rs 5 lakhs.
However, interim security is not required if tie-up with the builder for the particular housing project exists. For borrowers engaged in agriculture or allied activities, Equated Quarterly Instalment instead of EMI may be permitted. Moratorium period of to 12 months in case of repair & renovation. Individuals may apply singly or jointly with other eligible individuals.
Accounts
There is no clear definition of who constitute the class of High – net – worth individuals than the fact that they hold abundant liquid assets. It is advantageous for the bank in extending home credit to them as there is no possibility of the credit turning sticky. Ideal for them is the United Combo Loan Scheme which is a combination of housing and a car loan. In addition to these specific eligibility norms, there are a few other important parameters at the uniformly applicable to all the schemes. UBI home loans are attractive as they offer flexible repayment terms and competitive rates of interest.
In addition, the purchase of the car is financed with concessions, especially in the application of interest lower by 0.25 %. For fixed-rate home loans– no prepayment penalty is required if the loan is prepaid from own verifiable sources. Who can be a co-applicant for my housing loan?
Among these, the Union Paradise Home Loan specially designed for the NRIs are in high demand. As far as the scheme goes, it is very much like the Union Home Loan Scheme in its features and facilities. However, being a NRI, you will have to comply with additional documentation typically relevant in your case. Additionally, you will need to assign a close blood relative co-applicant and a suitable Power of Attorney in his /her favor.
The higher LTV ratio shall entitle better interest rates. To bridge the gap of housing finance provided by the employer. For pensioners, during the time of application, the age should not exceed 70 years. The Union Paradise Home Loan is ideally suited for NRI borrowers for the wide coverage of needs that it offers. However, the NRI needs to comply with additional documentation in tune with the character of his residence. The NRI community is offered a host of services by the bank suiting their needs under the provisions of RBI and FERA regulations.
Answer- Yes, you can apply for a loan to us for repaying a Mortgage Loan availed by you from another Bank/ housing Finance. For more details Contact our Nearest Branch/Office. Answer- Yes, you can apply for a loan to us for repaying a Home Loan availed by you from another bank/ housing Finance.
The home purchase or construction loan may be as per eligibility of the customers and for renovation/repairs the maximum amount of loan opted for is up to Rs. 30 lakhs. After understanding that you are eligible to take the loan, and paying the monthly EMI amount is feasible, get ready to check for the right set of home loan documents. The bank makes sure that the documents are 100% original and serves the purpose of the housing loan. This loan makes all those borrowers who have availed of housing loan of over Rs.15L.
Moratorium period is defined as the period during the tenure when you will not be required to make kind of repayment towards your loan. You will have to make repayments in the form of EMIs only after the completion of the moratorium period. Home Loan has easy repayment facilities within 15 years to 30 years span. The bank releases the loan amount depending on the applicant’s repayment capacity. UBI has an online facility designed specifically for the application process.
Interested in debt consolidation, home renovations, education funds, etc.? Our Fixed Rate Home Equity Products are competitively priced in today's market place. Answer- Market value refers to the estimated amount that is expected to be fetched on the property as per the prevailing market conditions. All the co-owner of the property need to join in as co-applicant.
As a special gesture union bank of india offers interest concessions to women applicants. Fixed rate loansThere is no prepayment penalty if loan is prepaid from own verifiable sources. As the excess funds help in reducing the loan outstanding, a lower interest is charged in the loan account . In other words, this option helps the customers to maximize their savings on interest without sacrificing ones financial liquidity. You are free to apply online to express your interest in the bank’s Home Loan. Alternatively you can visit any Union Local Points for Retail Loans or branches in your vicinity.
No comments:
Post a Comment