• You should be an Indian citizen above 18 years and below 60 years.
• Own a residential/ commercial property such as house/ flat/ building.
• Income-tax assesses having net monthly income of at least Rs. 10,000 in case of salaried people and net annual income of Rs. 1.20 Lakhs in case of non-salaried class people. In absence of IT returns of agriculturists, income certificate by relevant authorities can be accepted.
• Individual, either singly or jointly with other family members viz. father, mother, son and/or spouse, who have regular sources of income as co-applicants.

• Minimum of Rs. 1 Lakh and maximum of Rs. 50 Lakhs in case of metro and urban cities**
• Minimum of Rs. 1 Lakh and maximum of Rs. 25 Lakhs in case of semi-urban cities**

• 50% of the fair market value of the property mortgaged as per the latest valuation report. The valuation report should be from an approved valuer of the Bank and not older than six months at the time of sanction
• Fresh valuation at the cost of the borrower(s) is required once in three years during the tenure of the loan

• For salaried people, term loan facility is available.
• For non-salaried people, term loan and secured overdraft facilities are available.

• For term loan, repayment period is up to 7 years; Applicant has to repay the loan through EMIs

• Please click here to know our latest rate of interest.
• Processing charges are 0.50% of the loan amount.

• There is NO prepayment penalty if the loan is adjusted by the borrower from his own verifiable legitimate sources
• A penalty of 2% on the average balance of the preceding 12 months, if the loan is taken over by any other Bank /FI or adjusted by the borrower in lumpsum from any third source/party (except genuine sale).

• Equitable mortgage (E.M.) of the residential/ commercial property, which is in the name of the borrower and/ or his family members. The co-owners of the property need to join in as co-borrowers.

• Third party guarantee is not mandatory.

• Property insurance is compulsory to the tune of the value of the property

• Proof of identity (any of the following)
  1. Passport
  2. PAN Card
  3. Employee identity card
  4. Any other valid proof


• Proof of address (any of the following)
  1. Electricity bill
  2. Telephone bill
  3. Ration card
  4. Any other valid proof


• PAN Card


• Last 12 months bank statement


• Proof of income
  1. For salaried class 
     1. Last one year ITR
     2. Form-16/ letter from Employer
     3. Last 6 months salary slip
  2. For non-salaried class 
     1. Last three years ITR
     2. P and L Balance sheet


• Property papers
  1. Title Deed


• 3 photographs


• Proof of out-goes
  1. Loan repayment statement, if any
  2. LIC Policies, if any
  3. Valid proof of any other out-go


• Any other document required as per the application form

1. 50% of the market value of the property (house/ flat/ building etc), valued by our approved valuers
2. 36 times the gross monthly income of the salaried people or twice the net annual income of the non-salaried people
3. Rs. 50 Lakhs, in case of metro/ urban cities, and Rs. 25 Lakhs in case of semi-urban cities

• Through standing instruction to your Union Bank of India savings account to directly remit the EMI amount to your loan account
• Through internet banking facility available on your Union Bank of India savings account
• ECS (Debit) facility
• Post Dated Cheques (PDCs)

Please see the Forms & Documents Tab above for information on the list of documents required

• Application - Whereby you submit a completely filled in application with all necessary documents
• Sanction - Whereby you get an approval for a specific loan amount based on the value of your property and repayment capabilities
• Disbursement - Whereby the loan amount is disbursed

• You can visit any of our special retail lending branches called Union Loan Points (ULPs). To locate a ULP, click here
• You can visit any of our branches. To locate a branch, click here
• Request for a contact online
• You can also contact our 24 x 7 Call Centre