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16th January 2017, 03:02 PM
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Join Date: Aug 2012
Re: Overdraft Facility In Union Bank Of India

Yes, the Overdraft Facility is Offered by the Union Mortgage of the Union bank of India the Information About the Union Mortgage of the Union bank of India is given below

Repayment of existing mortgage loan taken at higher interest rate from another bank / FI (Take over). Union Mortgage is the solution for such needs; you can avail Loan against property and meet such expenditure..

Eligibility Criteria


Indian national owning non-agricultural (residential / commercial/industrial) property.
Minimum age - 18 years and maximum age - 70 years.
Applicant and co-applicants should be filing Income Tax return.
Individual, either singly or jointly with other family members viz. father, mother, son, unmarried daughter and/or spouse, who have regular sources of income as co-applicants.
All the owner(s) of the property have to join in as co-applicant(s).
Siblings, i.e. brother-sister, brother- brother, sister-sister can be permitted as a applicants/co-applicants subject to the property must be in the joint names of the siblings.
Partnership firms & Proprietary concerns.
NRIs are also eligible for mortgage loan


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

REPAYMENT
Maximum repayment period of 12 years; Applicant has to repay the loan through EMIs
No moratorium period permitted.

Interest Rates
Processing charges are 0.50% of the loan amount.


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