A "low interest" loan shouldn't mean you have very little interest in paying it back!
  • United Bank of India Home Loan

    United Bank of India is a state-owned financial services company headquartered in Kolkata, West Bengal, India. Presently the bank has a three-tier organizational setup consisting of its Head office in Kolkata, 35 Regional offices and 2001 branches spread all over India. After nationalisation, the bank expanded its branch network in a big way and actively participated in the developmental activities, particularly in the rural and semi-urban areas in conformity with the objectives of nationalisation. You have a wide range of choice of deposits offered by UBI.United bank of India Offer Home loan to individuals above 21 years, having regular income i.e salary/engaged in business / professionals and self-employed persons.Read on to learn about the eligibility and documentation requirements for the loan you avail.


    You’re probably eligible for an United Bank Home Loan if you are

    United Bank Home Loan Minimum Age

    At least 21 years old

    United Bank Home Loan Maximum Age

    Less than 70 years old

    United Bank Home Loan Eligible Employment Type

    Salaried or self-employed
    with regular income

    United Bank Home Loan Minimum Income

    Earn more than the minimum
    income required


    Your United Bank Home Loan amount eligibility is based on these factors

    United Bank Home Loan Minimum Salary

    Earn more than the minimum
    income required

    United Bank Home Loan Maximum Loan to property value

    Loan capped @ 85% of property value

    United Bank Home Loan EMI

    EMIs of other loans lower
    your eligibility


    Increase your eligible United Bank Home Loan amount by these steps

    United Bank Home Loan Add Spouse as Co-applicant

    Make your spouse a co-applicant,
    and her income will add
    to your eligibility

    United Bank Home Loan Maximum Tenure

    Choose longer tenure loan up to 30 years

    United Bank Home Loan Add parents as Co-applicant

    Alternatively add your parents


    Documentation needed to apply for an United Bank Home Loan

    • 1. Signed application form with photograph
    • 2. ID and residence proof
    • 3. Processing fee Cheque
    • 4. Latest bank statements
    • 5. Documentation for salaried applicants:
      • Last 3 years Income Tax Returns with computation of Income
      • Last 3 years CA Certified / Audited Balance Sheet and Profit & Loss Account
    • 6. Documentation for self-employed applicants:
      • latest income tax returns
      • latest comupation of income


    United Bank Home Loan Interest RatesUpdated on 24 Jun 2019

    United Bank Home Loan Details
    Interest Rate 8.45%
    Loan Tenure 30 years
    Processing Fee Nil
    Pre-closure Charges Nil


    UBI Home Loan

    Taking a loan to fulfill a housing requirement is the most preferred way of financing since it offers to fund a large chunk of the costs involved in procuring a home/plot and lets you repay in monthly installments over a term chosen by you.

    In times when prices of real estate are always heading north, it would be a better option to take a loan instead of pooling personal monetary resources at one go. In India, housing loans are offered by both state owned and private sector banks/financial institutions for a wide range of housing needs. Kolkata based United Bank of India is one such lender which offers attractive housing loan schemes under its retail lending portfolio.

    The United Housing Loan Scheme is available to salaried and self-employed individuals for the following purposes.

    • For purchasing a residential house/flat.
    • For purchase of a plot of land and construction of a residential unit thereon.
    • Supplementary finance is provided for completion of the housing project financed by the employer.
    • For home improvement services such as repairs, extension, renovation and furnishing.
    • Balance transfer of loan from other banks or financial institutions.
    • Towards purchasing/construction of a second or third flat/house.
    • For leasing house/flat of 10 years or more from government agencies/PSUs.

    Feature & Benefits of United Bank of India Home Loan:

    Simple eligibility criteria:

    This loan is available to the salaried class, businessmen and professionals who meet the monetary and other requirements, making it an easy to access loan.

    High loan quantum:

    The maximum permissible loan amount is determined on the basis of location of the property. For Metro area, the maximum loan is Rs.300 lakhs, Urban is Rs.75 lakhs, Semi-Urban is Rs.45 lakhs and Rural locations can get a loan of up to Rs.25 lakhs.

    In addition, an additional 20% extra loan is provided for furnishing in all cases. For loans taken for carrying out repairs of an existing house, a maximum of Rs.10 lakhs is offered and the cap on loans for extension is Rs.15 lakhs. In case of loan takeovers, United Bank of India will finance the full outstanding amount from other bank/financial institution.

    Loan margin:

    Housing loans from United Bank of India come with least margin for the borrower, which implies lesser burden. For loans up to Rs.30 lakhs, a margin of 10% of the project cost is applicable, 20% on loans from Rs.30 lakhs to Rs.75 lakhs and 25% for above Rs.75 lakhs. With such minimal margin, you can rely upon this instrument to fund a large part of the requirement.

    Repayment term:

    The bank offers up to 30 years for repayment in equated installments on the basis of the age of the primary applicant. For self employed and professionals, the loan repayment term should fall within the age of 70 years.

    No Prepayment charges:

    One of the attractives benefits of this loan scheme is that there is no prepayment penalty levied by the bank in case of early repayment. You can go ahead and liquidate the loan and pay it off any time during the term without incurring additional charges.

    Quick processing & no hidden charges:

    Getting approval for a home loan can be a cumbersome process and the time taken for loan decision can be time consuming owing to the paperwork involved. With United Bank of India home loan, you can look forward to quick processing. Plus, there are no hidden charges and fees as everything is communicated upfront. Documentation charges are applicable at standard rates.

    United Bank of India Home Loan Interest Rates:

    Unlike other products available in the market today, the interest rate is billed is the same for all types of requirements. As mandated by the RBI (Reserve Bank of India), the MCLR (Marginal Cost Based Lending Rate) system is followed to determine the applicable rate. The present rate of interest is 8.55% (MCLR-H).

    The interest rate is subject to periodic revision. Check with the nearest branch before assuming this rate as final.

    UBI Home Loan Eligibility Criteria:

    • The minimum age of the applicant should be at least 21 years with regular income by means of self-employment, business or profession.
    • Salaried applicants should be on permanent rolls and drawing sufficient income.
    • Self-employed and professionals should be running successful business operations for at least 2 years.
    • Business owners, self-employed and professionals should have 2 years of Income Tax Returns (ITR).

    United Bank Home Loan FAQ

    1. What is the document proof required for home improvement loan? I am looking forward for finance to extend my house.

      To be eligible for a loan, you’re required to submit details of the sanctioned plan issued by the municipal corporation and details of the construction cost issued by an engineer/architect.

    2. Is there a processing fee component involved in United Bank of India home loan?


    3. I am a self-employed applicant. Is there a cap on the upper limit of the age?

      Professionals and self-employed applicants should choose a loan term where the loan is fully paid off before attainment of 70 years of age.

    4. Does the bank offer extra loan on top of the housing loan for home furnishing?

      Yes. You can be eligible to get a top up amount of 20% of the approved loan amount to be utilized towards home furnishing.

    5. What is the maximum loan offered for repair work for an existing house?

      For repairs, you can look forward to getting up to Rs.10 lakhs, subject to the estimates provided by the Engineer or Architect.

    Home Loan - Sitemap

    Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners. Display of such IP along with the related product information does not imply BankBazaar's partnership with the owner of the Intellectual Property or issuer/manufacturer of such products.

    United Bank of India Home Loan Reviews

    • United Bank Home Loan
      0.5 4.0/5 "Great!"
      The documentation process was good but for the few statement of paid loan for this loan is difficult, because that can be done through the branch. The loan amount given with this bank was good and i got the loan quick with this bank. The rate of interest was 10% approximately and it was a fixed interest.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Jun 06, 2019
    • United Bank
      United Bank Home Loan
      0.5 5.0/5 "Blown Away!"
      The documentation process was simple and easy to get the home loan with the UNITED BANK OF INDIA. The loan amount was good and the rate of interest was 10% which was fixed and now changed into flexible rate of interest was applicable which is higher.
      Was this review helpful? 0
      , kolkata
      Reviewed on May 19, 2019
    • United Bank Home Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I have taken a home loan with United bank of India,the loan amount is 20.80 lakhs,the rate of interest is 8.45%,the tenure is for 20 years,the EMI amount is 19,000,i have no processing fees they had finished documentation as well as verification within 20 days of time.
      Was this review helpful? 1
      , kolkata
      Reviewed on Mar 02, 2018
    • United Bank Home Loan
      "Good experience"
      0.5 4.0/5 "Great!"
      My home loan is with UBI which was taken 10 years back. The loan process was very slow and lengthy so felt bit tedious . The loan amount was 10 lakhs and the promised interest rate was 9% which was average. They have sanctioned the loan with the committed time and provided door step service for collecting documents also. Here the pre closer is after 6 months. My overall experience was good.
      Was this review helpful? 0
      , kolkata
      Reviewed on Oct 20, 2017
    • United Bank Home Loan
      "Good service"
      0.5 4.0/5 "Great!"
      My home loan was taken with UBI 8 months back. Here the loan process was tedious and not so easy. It took almost 1 month because I was not ready with the documents. The loan amount was 22 lakhs and the rate of interest was 8.8% which was satisfactory for 30 years . They have provided door step service for collecting documents . My overall experience was good and I would like to recommend also.
      Was this review helpful? 4
      , chennai
      Reviewed on Oct 13, 2017
    • United Bank Home Loan
      "Irritating documentation!"
      0.5 1.0/5 "Really Bad"
      Even though I am an Government employee, UBI collected lot of irrelevant documents for the home loan application. I felt quite irritated with the documentation. The interest rate is 10.25% and that is fixed for the whole loan tenure. There are lot of obstacles and I am not satisfied with the services offered.
      Was this review helpful? 3
      , kolkata
      Reviewed on Sep 24, 2015
    • United Bank Home Loan
      "Convinient One...."
      0.5 3.0/5 "Satisfactory"
      Before 3 yeas I took a home loan with United Bank of India. The offer was really good but they have to improve the customer service. They needed only few documents to process the loan. I got my loan sanctioned within a month. I have visited the branch many times, they respond well. The experience with them was okay.
      Was this review helpful? 3
      , durgapur
      Reviewed on Aug 04, 2015
    • United Bank Home Loan
      "Drastic improvement needs to be there"
      0.5 2.0/5 "Expected more"
      I am having the Housing loan with United Bank of India.The rate of interest is really huge with them.What I find with them that the rate of interest was not reduced even there the Repo rate was reduced.This is a kind of product that is not etiquette to the customers choice.
      Was this review helpful? 1
      , lucknow
      Reviewed on Jun 25, 2015
    • United Bank Home Loan
      0.5 3.0/5 "Satisfactory"
      I took the home loan with the United Bank of India.The rate of interest is around 9.9% and its fixed.In the sense like the dual loan.The things which impressed that everything got done within a week.I felt happy with them.
      Was this review helpful? 1
      , bangalore
      Reviewed on Jun 24, 2015
    • United Bank Home Loan
      "Bad Bank"
      0.5 1.0/5 "Really Bad"
      The services offered by United Bank of India was very bad for the home loan I have taken. In terms of communication and also in managing the loan account they are not good. Couple of months the EMI got debited from my account only but they state that it was from a different account. Basically there is no alerts or any sms about the EMI deduction as well.
      Was this review helpful? 1
      , bangalore
      Reviewed on May 02, 2015
    • United Bank Home Loan
      0.5 5.0/5 "Blown Away!"
      Than any other government banks, United Bank of India is low in interest rate on home loan and they processed the loan in 15 days. In days they completed all legal formalities and two days for verification, one day for documentation. Processing charge was waived off. Interest offered on home loan is 10%.
      Was this review helpful? 3
      , kolkata
      Reviewed on Mar 13, 2015
    • United Bank Home Loan
      "Really helpful"
      0.5 4.5/5 "Excellent!"
      The manager Sushil Kumar Chaudhary was really helpful in disbursing the home loan. My probation period in company was not completed and at the mean time as it got cleared, I had got the offer from this bank. Its 10.25% interest rate charged by United bank of India.
      Was this review helpful? 4
      , kolkata
      Reviewed on Nov 24, 2014
    • United Bank Home Loan
      "It was satisfactory performance"
      0.5 4.0/5 "Great!"
      It was through my Chartered accountant I got the home loan from United bank of India. Rate of interest is quite far compared with other which was 10.25%. Processing charges 1%. I provided just the documents, everything was taken care by Chartered account and Bank executives were responsive. Good thing is they approved loan for me.
      Was this review helpful? 2
    • United Bank Home Loan
      "Really very much happy"
      0.5 1.5/5 "Bad"
      Really very much happy and nice experience with Union bank of India home loan services. I have a current account with this bank so it was easier.It was good. I got my proper communication and everything was fine. Interest rate and charges are fine.
      Was this review helpful? 0
    Common Loader Icon
  • reTH65gcmBgCJ7k
    This Page is BLOCKED as it is using Iframes.