If you have already availed a home loan from Union Bank of India, you can avail the Mortgage Plus scheme in order to meet your personal or business needs or repay your existing loans. The rate of interest charged will be 1% above the rate of interest of home loan account against which the Mortgage Pus scheme is extended without taking into consideration the factoring concession.
You will have to meet the following eligibility criteria in order to avail the Union Bank of India Mortgage Plus Loan scheme:
Quantum of Loan
You will have to visit the nearest branch of Union Bank of India in order to avail this scheme for yourself. You must note that you must have already availed a home loan scheme from another bank and hence you must carry the required documents along with you in order to avail this loan. Once you submit the necessary documents, a representative from the bank will help you with the process of availing this mortgage loan scheme.
The processing fee charged is 0.50% of the loan amount + GST
There is no prepayment penalty if you are able to pay the loan back from your verifiable legitimate sources. However, if your loan is taken over by any other lender, then a prepayment penalty of 2% will be charged on the average balance of the preceding 12 months if the loan is taken over by any other lender.
The security you will have to provide in order to avail this loan scheme are:
Yes, you can avail insurance on availing the Mortgage Plus loan scheme. You must ensure that you have insured your property with the insurance amount not less than the total value of the property.
You can get in touch with a Union Bank of India representative by calling the toll-free number 1800- 2222-44/1800-208-2244 or on the number 080-61817110 which is chargeable. If you are a Non-Resident Indian (NRI) then you can call on the number +918061817110. A Union Bank of India customer care executive will get in touch with you and will help you with your query.
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