Union Bank Of India Loan Against Property

Sir I want to take the loan from the Union Bank Of India against property so can you please tell me the eligibility required and the rate of interest for the same

[Pathak]

Hey buddy the Union Bank of India is one of the largest government-owned banks of India. It is listed on the Forbes 2000, and has assets of USD 13.45 billion.

All the bank's branches have been networked with its 6909 ATMs as on 30.09.2015.

Union Bank Of India against property Eligibility

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


Loan to be sanctioned

Minimum of Rs. 5 Lakh

Maximum -

Resident Indian Agriculturist NRI

Rs. 10 Crore Rs. 1 Crore Rs. 5 Crore


Interest rate

Processing charges are 0.50% of the loan amount.

Valuation / Legal / Stamp Duty / CERSAI / Memorandum registration charges as per actuals.

Guarantee

Third party guarantee is not mandatory for resident Indian. In case of NRIs guarantee of a local resident Indian required