Home Loan- Union Bank of India Interest Rates, Eligibility and Documents Required

Union Bank of India

Overview

Home loan is given for the purpose of purchase of independent house/flat, construction of independent house/flat, repair/improvement/extension of house/flat.

Visit official website of Union Bank of India

Loan Feature

Loan Amount	Depending on repayment capacity
Interest Rate	10.25% to 13.25%
Tenure	Maximum 30 years
Pre Payment Charges	There is no prepayment penalty if loanis prepaid from own verifiable sources.
Service Charges	� No processing charges for loans upto Rs. 75 lakh (offer valid till 31/03/2014) Processing charges @ 0.25% of the loan amount subject to maximum of Rs. 7,500 for loans above Rs. 75 lakh (offer valid till 31/03/2014) Valuation / Legal / Stamp Duty / CERSAI / Memorandum registration charges as per actuals. � No processing charges for loans upto Rs. 75 lakh (offer valid till 31/03/2014) Processing charges @ 0.25% of the loan amount subject to maximum of Rs. 7,500 for loans above Rs. 75 lakh (offer valid till 31/03/2014) Valuation / Legal / Stamp Duty / CERSAI / Memorandum registration charges as per actuals.

Eligibility Criteria : Home Loan

	Salaried	Self
Age	Minimum 21 years	Minimum 21 years
Income	Information not available	Information not available
Job Experience	Information not available	Information not available
Residence Proof	Valid Residence proof	Valid Residence proof

Docs Required : Home Loan

	Salaried	Self
ID Proof	PAN card/Voters ID/Passport/Driving License/Any other valid proof	PAN card/Voters ID/Passport/Driving License/Any other valid proof
Address Proof	Recent telephone bill/Electricity bill/Passport/Voters ID/Driving License/Any other valid address proof	Recent telephone bill/Electricity bill/Passport/Voters ID/Driving License/Any other valid address proof
DOB Proof	Information not available	Information Not Available
Financial Docs	• Statements (latest 3 months bank statement / 6 months bank passbook) • Latest 6 months salary slip with latest Form 16/letter from employer • Last one year ITR	• Last 3 years ITR • B/S & P&L a/c for the last 2 yrs. certified by a CA

Other Charges : Home Loan

0.50% of loan amount subject to a maximum of Rs.15000/- plus service tax as applicable

PREPAYMENT PENALTY

Floating rate loans:

Floating rate loans:

There is no prepayment penalty if loanis prepaid from own verifiable sources or taken over by other banks/FIs.

Fixed rate loans

There is no prepayment penalty if loanis prepaid from own verifiable sources.

A take-over penalty of 2% is chargedon the average outstanding balance of the preceding 12 months if the loanis taken over by any other bank / FI or adjusted by the borrower in lumpsumfrom any third party/source (except genuine sFloating rate loans:

There is no prepayment penalty if loanis prepaid from own verifiable sources or taken over by other banks/FIs.

Fixed rate loans:

There is no prepayment penalty if loanis prepaid from own verifiable sources.

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SECURITY:

Equitable mortgage (E.M.) of the residential property

If the house/ flat proposed to be purchased is yet to be constructed or is under construction, interim security may be required (till the period of its completion)

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Testimonial

After getting rejected for a home loan by two banks I thought my wish of owning a home in a city like Mumbai will remain a dream. By chance I came to your site and applied for the loan.

What happened then was a smooth process. It's been my good luck to visit your site and get loan for my dream home.

Thanks

- Deepak Gupta

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