• For personal or business needs.
• Repayment of high cost loans.

To avail "Union Mortgage Plus" you need to meet the following criteria:

• Existing housing loan borrowers.
• Borrowers whose home loans are taken over from other Bank/FI.
• Minimum age - 21 years and maximum age - 70 years.
• The maximum age and tenure norms to be applicable in respect of individuals whose income are being considered for the purpose of repayment.
• Individual, either singly or jointly with other family members viz. father, mother, son, spouse who have regular sources of income as co-applicants.
• Siblings, i.e. brother-sister, brother- brother, sister-sister can be permitted as applicants/co-applicants subject to the property must be in the joint names of the siblings.
• All the owner(s) of the property have to join in as co-applicant(s).

• Minimum - Rs. 1 Lakh
• Maximum  - Rs. 500 Lakh

• 25% of the value of the property after including outstanding of existing housing loan as well as proposed loan amount under mortgage plus.

• Residual repayment period of housing loan.
• No moratorium period permitted.

• Please click here here to know our latest interest rates
• Processing charges are 0.50% of the loan amount + GST.
• Valuation / Legal / Stamp Duty / CERSAI / Memorandum registration charges as per actuals.

• There is NO prepayment penalty if the loan is adjusted by the borrower from his own verifiable legitimate sources
• A penalty of 2% plus service tax on the average balance of the preceding 12 months, if the loan is taken over by any other Bank /FI.

• Extension of mortgage of home loan.
• The residual age of the property to be 5 years more than the repayment tenure.

• If any guarantee is obtained for existing housing loan, the same is to be required for mortgage plus loan.

• Property should be comprehensively insured for an amount not less than the value of the property, covering all risks with Bank clause.