Table of Content
Various Builder/Developer who have advertised their products. Magicbricks is only communicating the offers and not selling or rendering any of those products or services. It neither warrants nor is it making any representations with respect to offer made on the site. No, it is not mandatory to have a third-party guarantor if you are an Indian citizen and have opted for a UBI home loan. You can fetch more details and know the terms and conditions from your nearest UBI branch. One or two guarantors who are Indian Residents having means as much as the loan amount is required in the case of an 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.
Apply Online
Union Bank of India provides eligible borrowers with affordable home loan interest rates. There is an option of extending the repayment tenure up to 30 years with several flexible repayment modes. The other factor employed depends on the repayment capacity of the borrower subject to several parameters in play, but still there is no defined upper limit.
A General power of Attorney in our format in favor of a blood relation supported by KYC documents. Copy of employment contract or offer letter in English duly attested by the Indian Embassy or bank branch in that country. The full margin money has to be spent before disbursal of loan.
Get a Free Customized Rate Quote & Mortgage Analysis!
Very responsive and informative when I had questions. Was also easy to work with when I had requested changes to my initial ask. This is my second time working with them and would do so again. The interest rate of this loan may be between 9.10% to 10.70%.
The online application procedure is quite elaborate asking you to populate the relevant fields. The submission of the online form is only an expression of interest. The appraisal and scrutiny of the proposal are to be accomplished in the branch within the command area where your residence is located.
Which Union Bank of India Home Loan Scheme is Right for You?
Minimum entry age is 18 years and maximum exit age up to 75 years. Construction of residential unit on exiting non agriculture plot. The loan shall be repaid in equated monthly instalments .
Additional documents required for NRI and PIOAlready described in the Housing Loan for NRI section. 75 % of the cost of property including the registration and stamp duty applicable. FeesProcessing charges are recovered at 0.59 % of the loan amount subject to min Rs1180 and max Rs.11800.LTV 25 % to Rs.3 L annual income. UBI interest regime is linked to the MCLR pattern which varies according to the repo rate determined by the RBI from time to time. Improvements/ repairs/ addition of existing residence. The concerned officials will verify the documents and the details there.
Union Bank of India Home Loan Customer Care
Yes, you do have the option of prepayment in a Union Bank of India home loan. There is no charge for pre-paying your home loan if the borrower has opted for a floating rate of interest. The marginal costs of funds-based lending rates at Union Bank of India have increased by 5 basis points for all tenures.
There is no charge on pre-payment if the loan is adjusted by the borrower from his own verifiable legitimate sources. An Equated Monthly Instalment has 2 components, interest and principal. When the interest is calculated on monthly rests, the principal on which the interest is charged goes down every month. This results in a significant saving for the customer over the tenure of the loan. Processing charges are 0.50% of the loan amount subject to maximum of Rs.15,000 plus GST as applicable. LTV is the loan to value ratio and is expressed in percentage.
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.
The applicable processing fee is 0.5% of the sanctioned amount plus GST. There is no dearth of home loan schemes in the market with a host of lenders like banks, NBFC and Housing Finance Companies wooing the prospective borrowers with an array of offers. Equitable mortgage of the residential property, proposed to be purchased from Bank's finance, is required. If the house/ flat proposed to be purchased is yet to be constructed or is under construction, interim security may be required . The Union Awas Loan is suitable for those customers who want to purchase or construct a house in a rural or semi-urban area.
The bank offers a full waiver of prepayment charges if the loan is being prepaid through personal sources or through balance transfer to another bank. Can be availed for purchase/construction of a house, repairs/improvements/extension of an existing property. Knowing the Equated Monthly Instalments payable on your loan is of utmost importance when it comes to getting a housing loan. BankBazaar Union Bank of India Home Loan EMI Calculator is one such online tool that will help you get an idea of the EMIs you need to pay to the bank during the tenure.
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.
No comments:
Post a Comment