You can avail Union Awas a home loan scheme provided by Union Bank of India at interest rates ranging between 6.90% and 7.15% p.a. with repayment tenures of up to 30 years.
You will have to meet the following eligibility criteria in order to avail the Union Awas home loan scheme:
Quantum of Loan
Given below is the list of documents you will have to submit in order to avail the Union Awas Home Loan from Union Bank of India:
Given below are the steps you will have to follow in order to avail the Union Awas Home Loan scheme:
There is no prepayment penalty levied on your loan amount if the loan is adjusted by you from your own verified legitimate sources. However, if your loan is taken over, then a prepayment penalty of 2% will be levied on the average balance preceding one year.
You will have to provide equitable mortgage of the residential property as your security. If the house has been proposed to be purchased, is under construction, or is yet to be constructed, then interim security might be required till the completion of the construction or the property is purchased officially.
Yes, it is compulsory to avail insurance to the tune of the loan amount availed by you.
Yes, you can get a top-up of up to 50% of the EMIs repaid subject to minimum of Rs. 50,000 and maximum up to Rs.5 Lakhs. This facility can be availed by you if you have an existing home loan scheme and have paid 24 EMIs in the existing home loan scheme.
Yes, Union Bank of India provides EMI calculator tool which is available on the official website of the bank. You can use the EMI calculator tool and enter the details such as your loan amount, repayment tenure, interest rate, etc. You will be then shown the EMI you will have to pay on a monthly basis depending on the details provided by you.
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