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  • United Bank of India NRI Home Loan

    United Bank of India offer housing loans to NRIs. The loan amount is offered by the bank at attractive rates and the repayment tenure can go up to 25 years. You can avail up to 75% of the cost of the property.

    Interest Rates

    Loan Tenure Up to 25 years
    Interest rates Starts at 9.75% p.a.
    Processing fees 0.59% of the loan amount (Subject to a maximum of Rs.15,000


    The listed below eligibility criteria needs to be fulfilled in order to avail the United Bank NRI Home loan:

    • Must be an NRI holding an Indian passport
    • A PIO holding a foreign passport either singly or jointly.

    Note: The PIO must be a citizen of a country other than Bhutan, Nepal, Iran, China, Afghanistan, Sri Lanka, Pakistan, and Bangladesh. He/she must also fulfil the following points:

    • Held the Indian passport at any time.
    • He/she or either of his parents or any of his grandparents was an Indian citizen by virtue of the Indian constitution under the Citizenship Act, 1955.
    • He/she is a spouse of an Indian citizen.


    The documents which needs to be submitted for availing the United Bank Housing loan are listed below:

    • Duly attested copy of the employment contract/offer letter by the consulate/embassy or the bank’s branch in that country.
    • Write up on the company/institution where the applicant is employed.
    • Proof of residence
    • Curriculum Vitae (CV) of the applicant borrower
    • Latest salary certificate
    • Copy of a notarized valid work permit/appointment letter and contract details
    • Copy of Identity Card issued by the current employer.
    • Copy of the passport as proof of age with visa stamp
    • Copy of a valid visa notarized by the notary public.
    • Overseas Bank Account Statement for the last 6-12 months of NRE/NRO accounts.
    • Bank statements for last six months of salary account whether the account is overseas or in India.
    • Copy of the latest W2 form (for the people residing in USA)
    • Income tax returns for the last 2 years.
    • A notarized assets and liabilities statement.
    • General power of attorney notarized and attested by Indian embassy/ consulate (as per bank’s format)
    • Undertaking from the employer for remittance of monthly instalment
    • Copy of Continuous Discharge Certificate (CDC). [For applicants employed in the merchant navy.]

    Features of United Bank NRI Home loan

    • You can avail loan up to 75% of the cost of the property.
    • The repayment tenure can go up to 25 years
    • You can avail the United Bank NRI Home loan for the following purposes:
      • Purchase of ready built house/flat or for construction of house/flat.
      • Purchase of land for construction of house within 2 years.
      • For renovation/extension/repair/ furnishing of owner occupied or tenant occupied house or flat.
      • Takeover of housing loan availed from other banks/HFCs.
      • Purchase of long-term lease of house/flat from govt. bodies or PSUs.


    1. Can I avail the loan for the third housing unit?

      No, the bank does not offer any loan for the third housing unit.

    2. Does the bank offer the housing loan for purely commercial purpose?

      No, the bank does not offer the loan for purely commercial purpose.

    3. What is the minimum number of years for purchase of long-term lease of house or flat from government bodies or PSUs?

      The minimum number of years is 10 years for purchase of long-term lease of house or flat from government bodies or PSUs.

    4. Is there any prepayment penalty?

      There is no prepayment penalty. However, in case of takeover of loan by banks/HFCs, 2% prepayment charges are levied on the outstanding balance.

    5. What is the security for availing the United Bank NRI loan?

      The security which needs to be provided are:

      • Equitable mortgage of the proposed property.
      • Interim security in case of under-construction property.

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