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  • Personal Loan BYTES FROM OUR KITCHEN

    Union Personal Loan for Existing Housing Loan

    Customers can take out a Personal Loan for Existing Housing Loan Borrowers to meet miscellaneous expenses related to their house, like insurance premium payments, furniture, house warming, interiors, etc.

    Who can avail a Union Personal Loan for Existing Housing Loan Borrowers?

    Customers who wish to take out this loan will have to be either salaried individuals or non-salaried persons who have already taken out a home loan from Union Bank.

    What is the loan amount that can be availed through a Union Personal Loan for Existing Housing Loan Borrowers?

    The maximum amount you can avail through this loan is 5% of the amount of your existing home loan, but not exceeding Rs.5 lacs.

    What are the eligibility criteria for availing a Union Personal Loan for Existing Housing Loan Borrowers?

    The eligibility criteria for this loan are limited. Customers must be either salaried individuals or non-salaried persons and should have already taken out a housing loan from Union Bank.

    What is the rate of interest applicable to the Union Personal Loan for Existing Housing Loan Borrowers?

    Customers will be charged a floating rate of interest which includes the interest rate calculated by the bank plus a base rate of 9.65%.

    What is the repayment tenure for this loan?

    The maximum repayment tenure for the Union Personal Loan for Existing Housing Loan Borrowers is five years.

    Is there a prepayment penalty applicable to this loan?

    In case the borrowers adjust the loan from their own certifiable legitimate sources, there will be no prepayment penalty. However, takeover fees of 2% on the average outstanding amount of the previous 12 months will be charged if the customer closes the loan or transfers it to another financial institution.

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