Name of the Organaisation : United Bank of India (unitedbankofindia.com)
Type of Facility : Apply Online Housing Loan
Home Page : http://www.unitedbankofindia.com
Apply Online Form : https://www.unitedbank.co.in/english/home.aspx
Purpose:
** For purchase/construction / extension/ repairs /renovations/furnishing of residential house / flat including the purchase of land and construction thereon.
** Supplementary finance to complete the project financed by the employer.
** Takeover of the Housing Loan from other Banks/Housing Finance Companies, Housing Boards.
** Purchase/take-on of long term lease (min. 10 yrs) of house/flat from Govt. Bodies/PSUs (unexpired lease period should exceed at least 5 years than repayment period of loan).
** For purchase/construction of 2nd house/flat.
Eligibility:
** Individuals above 21 years, having regular income i.e salary/engaged in business / professionals and self-employed persons.
** Salaried person should be in regular & permanent service.
** NRIs are eligible to avail loans.
Quantum:
** Quantum of loan depends on the cost of house/flat, application’s age, income, repayment capacity etc. Loans of higher amount may be considered on the basis of merit of the case.
The maximum quantum of loan shall be as follows:
Nature of Applicant : For all Categories of Borrowers
Location of house/ flat/ property :
1. Metro – 100
2. Urban – 75
3. Semi Urban – 40
4. Rural – 20
** Max Rs: 150 Lacs For metros like Kolkata, Delhi, Mumbai, Chennai, Bengaluru, Ahmedabad, Hyderabad, Gurgaon, Noida, New Delhi, & for other metros Rs 100lacs.
** High value loan (Rs 50lacs above) for purchase of flats shall be restricted to buying flats from national /state level/reputed builders/ developers (CREDAI approved projects)only
Repair of existing house:
For repair of existing house/ extension of building
For repairs: Rs 5 Lacs (maximum) subject to submission of estimate from chartered engineer /architect (the rate should corroborate the PWD rates), 75% of amount repaid in existing housing loan where the borrower is having existing loan.
For extension :Rs 10 Lacs (maximum) subject to submission of sanction plan by the municipality / corporation etc.& certificate of construction cost by chartered engineer/architect
Margin:
15% of the Project Cost if the loan amount does not exceed Rs. 25 lac and 20% of the project cost if loan amount exceeds Rs.25 lac , valid upto 31st December,2012.
** For purchase of land for construction of house, loan may be sanctioned 40 % of maximum loan eligibility of borrower(s) subject to 25% margin of the value of the plot/land is provided by borrower
** Margin is not applicable for additional loan amount towards One Time Premium of Life Insurance cover of the borrower under the Scheme.
** Project cost includes purchase price/ construction or extension or repair cost.
In all cases construction should be as per approved plan & specifications
More details about housing loan : https://www.unitedbank.co.in/english/home.aspx