A shelter of your own
has been eluding you so far? Now your dream for a dream house will be a reality
at most attractive terms with the United Housing Loan Scheme.
Purpose of
Loan..!:
* For purchase / or
construction / or extension/ or repairs /
or renovations / orfurnishing of residential house / or flat including the purchase of plot of
land & construction thereon.
* Supplementary finance to complete the project
financed by the employer.
*
Takeover of the Home Loan from other Banks / HFCs (Housing Finance
Companies), Housing Boards.
* Purchase / or take-on of long term lease
(Minimum 10 yrs) of house / or flat from Govt. Bodies / PSUs (unexpired lease
period should exceed at least five years than repayment period of loan).
* For purchase /
construction of 2nd house / flat.
Eligibility..!:
* Individuals above 21 years, having regular
income i.e salary / engaged in business / professionals & self-employed
persons.
* Salaried person
should be in regular and permanent service.
* NRIs are also
eligible to avail loans.
Quantum
of Loan..!:
Quantum of loan
depends on the cost of house / flat, application’s age, income, repayment
capacity etc. Loans of higher amount may be considered on the basis of merit of
the case. The maximum quantum of loan shall be as follows:
Maximum Rs: 1.5 crore
For metros like Chennai, Kolkata, Delhi, Mumbai, Bengaluru, ahmedabad,
Hyderabad, Gurgaon, Noida, New Delhi, & for other metros Rs. 1 crore.
High value loan (Rs.
50 lacs above) for purchase of flats shall be restricted to buying flats from
national / state level / reputed builders / developers (CREDAI, BAI Approved
projects) only
Repair of
existing house:
For repair of
existing house / extension of building
For repairs:
Rs. 5 Lacs (Maximum)
subject to submission of estimate from chartered engineer / architect (the rate
should corroborate the PWD rates), 75 per cent of amount repaid in existing
housing loan where the borrower is having existing loan.
For extension :
Rs 10 Lacs (Maximum)
subject to submission of sanction plan by the municipality / corporation
etc.& certificate of construction cost by chartered engineer / architect
Margin Money:
20 per cent of the Project Cost if the loan amount does
not exceed Rs. 25 lac and 25 per cent of the project cost if loan amount
exceeds Rs.25 lac
For purchase of plot
of land for construction of house, loan may be sanctioned 40 per cent of
maximum loan eligibility of borrower (s) subject to 25 % margin of the value of
the plot / land is provided by borrower
Margin is not
applicable for additional loan amount towards One Time Premium of Life
Insurance cover of the borrower under the Scheme.
Project cost includes
purchase price/ construction or extension or repair cost plus stamp duty &
registration cost.
In all cases
construction should be as per approved plan and specifications
Repayment Plan:
* Maximum Period of
25 years and tenure is fixed on the basis of age of 1st applicant (whose income
contributes major part in recovery) & remaining age of old property.
* The loan shall be
liquidated within superannuation. However, if the applicant satisfies the Bank
that he / she will have sufficient income after superannuation from sources
like pension or interest on investment and bank deposits and / or other
sources, in which case repayment period shall be extended upto 70 years of age.
* Spouse should be made co-borrower /
guarantor.
* Where spouse would not be available, working
son, daughter, nearest relative shall be made co-borrower / guarantor.
* For salaries
person, the loan shall be repaid within superannuation and for professional and
self employed person, within the age of 65 years.
* For both salaried
class and P & SE, EMI should be realized from SB / CD / USP a/c of
borrower, every month, by the mandate of standing instructionIn addition to
existing norms, 3 undated cheques for 3 EMIs shall be obtained.
Flexible Repayment
Option:
* Step-up EMI,
* Step-down EMI &
* Lower EMI with lump
sum payment at a certain point of time.
For considering big
ticket size loan of Rs. 50 Lacs & above, following guidelines shall be
followed:
Irregularity in
income of borrower.
* Established and
experienced professional and self employed persons should be at least three (3)
years in trade or profession and an average for the last 3 years income will be
reckoned for computation of loan eligibility.
* The stability in
cash flow of their business unit for last three years must be verified by
bank`s panel Chartered firm.
* Salaried persons
should be at least three years in permanent in the organization where he/ she
work.
* Reputation of
builders/ developers (CREDAI Approved)
* New flats developed
by National / State level / reputed builders or Govt. authorities to be given
preference.
Diversion of funds..!
* End use of funds at
every stage shall be strictly verified by financing branch.
* Housing loan for
newly recruited officers of the bank Should be confirmed in bank’s service
* 0.25 per cent
concession in rate of interest (as members of staff) shall be available. Credit
life policy is mandatory. In case he / she leaves the bank, concession
shall be withdrawn and normal rate of interest will be applied from the date of
availment of loan.
Irrevocable undertaking to be given for
realization of EMI from pay bill & attachment of terminal benefits.
All other terms & conditions as
applicable In case of other customer shall be binding on them.
Takeover of loan:
Loan will be
sanctioned to the extent of full take - over amount without margin should be
satisfied with genuineness of the reasons & the account must be in standard
asset category. Total period of loan including the period the loan was In the
books of previous banker should not exceed 25 years.
Repayment of EMI for
last 12 months should be regular. No enhancement of take over limit will be
allowed.
Processing Charges:
0.50% of the loan amount minimum.
Minimum: Rs.1,000 and
Maximum: Rs.10,000
Mortgage Charges:
Nil
Documentation
Charges:
Documentation Charges
Upto Rs.25,000- Nil
Rs.25,000 to
Rs.50,000 - Rs.100
Rs.50000 to Rs. 2 lac
- Rs.500
Rs. 2 lac to Rs.5 lac
- Rs.1,000-
Rs. 5 lac to Rs.20
lac - Rs.1,200-
Rs.20 lac to Rs.1 cr
- Rs.2,500
Rs.1 cr. to Rs.5 cr -
Rs.3,000
Above Rs.5
cr.Rs.10,000
Security:
Mortgage of House / Flat.
Prepayment Charges:
* Under Floating Interest rate, no prepayment
charges shall be levied by the bank.
* In case of takeover of loans by Banks /
HFCs, 2% pre-payment charges is levied on outstanding balance.
Concession:
* 0.25 per cent if loan is taken alongwith
Credit Life Insurance cover (Bajaj, TATA AIG or any other Ins.co)
*
0.25 per centif 50 per cent of the loan amount is additionally secured
by way of Bank’s own TD.
*
0.25per cent for employees of our Bank
* No
concession is available for loans upto 5 years
Concession in rate of
interest in Tie-up Arrangement:
If any special
interest concession from Card rate is allowed on getting approval from HO,
under any Tie-up Arrangement, such concession will continue to be allowed from
the card rates. However, under no circumstances interest rate will be below
Bank’s Base Rate. Where interest rates are under fixed rate option the reset
clause shall be applied.
Interest Subvention:
1 per cent of
interest amount subject to fulfillment of terms and conditions in this regard.
Quick processing and
sanction of loan application. No hidden
costs.
Please contact your
nearest UBI branch.
Head Office
11 Hemant Basu Sarani
Kolkata - 700001
http://www.unitedbankofindia.com
Toll Free Number -
1800 - 345 - 0345
Toll Free Number for
MSME sector - 1800 - 345 – 3344
For
hotlisting/blocking of ATM cum Debit card, contact: 1800 1033 470
Demat Query - 033 -
22310513
Tele Banking : Toll
Free No – 18003452222) / (Land Line - 033–22428940)
Assistant General
Manager-IT
Information
Technology Department
6th floor, United
Tower
Head Office, United
Bank of India
11, Hemanta Basu
Sarani
Kolkata-700 001,
E-Mail : webmaster@unitedbank.co.in
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