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| Welcome to Union Bank Of India Home Loans |
Eligibility
- Indian Citizen - 21 years and above.
- Either single account or joint account with other family members viz., father, mother, wife, son or daughter with regular source of income.
- Individuals who may be employed/self-employed in business having regular income.
- A minimum of 40% marks as per investment grade scoring chart.
Purpose
- Purchase of independent house/flat.
- Construction of independent house/flat.
- Repair/Improvement/Extension.
- Repayment of loan availed from another agency/Bank/NBFC.
- For purchase/ construction of 2nd property (independent house/flat)
- Plot sold by a Government-recognized agency viz., HUDA, HOUSEFED and such others.
Quantum
- Max. Rs. 100 lacs for major 'A' class cities; for other cities Rs.50 lacs
- Max. Rs. 10 lacs for repair.
Margin
- For purchase/construction, 20% of the value of independent house/flat.
- For repairs, 20% of total cost of repair.
- For purchase of plot, 20% of the value of the plot.
Repayment
- Moratorium up to 18 months wherever loan is taken for under construction flat or building.
- By EMI.
- The maximum repayment period should not exceed 20 years for construction / purchase of house/ flat and 10 years for repair.
- Option of Flip/Step-up/Balloon methods of repayments for the convenience of the borrowers.
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