Union Bank of India- Product

Search

Home You are here : path  Products path Personal path Union Mortage Plus

car-loan  UNION MORTAGE PLUS

FEATURES

PURPOSE
  • For personal or business needs.
  • Repayment of high cost loans.
ELIGIBILITY
  • Home Loan borrowers (Existing as well as new)**
  • Borrower whose home loans are taken over from other Bank/FI. In case of takeover of home loan, the loan can be sanctioned simultaneously with housing loan.
  • All the owner(s) of the property have to join in as co-applicant(s).
Note: Property should be in the name and possession of the borrower. Loan can’t be considered for under construction property
QUANTUM OF LOAN
  • Minimum - Rs.1 Lakh
  • Maximum - Rs.1000 Lakh
NATUE OF FACILITY
  • Flexible account with features of both Term Loan as well as OD
MARGIN
  • 25% of the value of the property after including outstanding of existing housing loan as well as proposed loan under mortgage plus.
REPAYMENT
  • Lowest of the following:
    • 30 years from the date of sanction
    • Borrower attaining age of 75 years (subject to assessment at the time of sanction the adequacy of income to meet repayment till the age of 75 years).
    • Five years prior to residual age of the building i.e. loan should be liquidated 5 years prior to the residual age of the building
MORATORIUM
  • No moratorium period permitted.
RATE OF INTEREST
  • Please click here to know our latest interest rates
  • Valuation / Legal / Stamp Duty / CERSAI / Memorandum registration charges as per actuals.
PREPAYMENT PENALTY
  • There is NO prepayment penalty
SECURITY
  • Extension of mortgage on residential property.
GUARANTEE
  • If any guarantee is obtained for existing housing loan, the same is to be required for mortgage plus loan.
INSURANCE
  • Property should be comprehensively insured for an amount not less than the value of the property (less cost of land), covering all risks with Bank clause.
**Conditions apply.
**Contact our nearest branch for further details**

FAQs


union

union