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I do not submit ITRs as my income is below the ceiling of income tax. Can I get the Loan? Yes, only income certificate issued by Tehsildar/Mandal Revenue Officer is sufficient to avail the loan under the scheme.
I am not able to service monthly EMIs as I only have agriculture income which I get twice a year. Will I get a loan? Yes, Quarterly/Half-yearly/Annual frequency instalments are also available matching with the cropping pattern for the loans to be availed by the farmers
Is Guarantor must for availing the loan? Yes, Loan to be guaranteed by one or two persons of adequate means
What is the maximum quantum of loan?
Do I need to open an account with Union Bank of India for availing and/ or servicing the home loan? Although opening of account is not mandatory for Resident Indian for availing a loan, we would recommend to bank with us in order to benefit from other value added services. For NRI opening of a NRE account with Union Bank of India is mandatory for availing a loan.
What documents do I need to submit to avail a home loan? Please see the Forms & Documents Tab above for information on the list of documents required.
How much time will it take for my home loan to be approved? It takes 5 days for your loan to be sanctioned, after you have submitted all the required documents.
What are the stages involved in taking a loan? There are three main stages - 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
How do I approach Union Bank of India for a home loan? You can approach us in any of the following ways 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 braches. To locate a branch, click here Request for a contact online You can also contact our 24 x 7 Call Centre
**Conditions apply. For further details, please visit our nearest branch.