35 Lakh Union Bank of India Home Loan

Are you looking to buy a home but are short on funds? Rs. 35 Lakh home loan from Union Bank of India can help. The Union Bank of India is offering a Rs.35 Lakh home loan to Indian residents and NRIs to fulfil their dream of owning a home. This loan is designed to minimise the efforts of the candidate to apply for this loan. Competitive interest rates and a flexible EMI structure make it an ideal choice. You can use the Rs.35 Lakh EMI calculator from Union Bank of India to calculate your monthly EMI and plan your loan accordingly.

35 Lakh Home Loan Union Bank of India – Highlights

Here are Union Bank of India’s home loan interest rates for 35 Lakh, along with certain highlights:

35 Lakh Home Loan EMI for 5 Years Union Bank of India

Union Bank of India housing loan EMI for 35 Lakh is mentioned below in detail:

35 Lakh Home Loan EMI for 10 Years Union Bank of India

Here are the 35 Lakh home loan EMI for 10 years from Union Bank of India in a detailed format:

35 Lakh Home Loan EMI for 15 Years Union Bank of India

Here are 35 Lakh home loan EMI for 15 years Union Bank of India, along with highlights:

35 Lakh Home Loan EMI for 20 Years Union Bank of India

35 Lakh home loan EMI for 20 years Union Bank of India are as follows:

35 Lakh Home Loan EMI for 25 Years Union Bank of India

Union Bank of India home loan of 35 Lakh EMI for 25 years is mentioned below:

35 Lakh Union Bank of India Home Loan – Fees and Charges

There are some additional fees with Union Bank of India home loan interest rate of 35 Lakh. These fees are mentioned below: 

• Processing Charges: A 0.50% fee applies to the loan amount, which for a 35 lakh loan totals ₹17,500. However, this amount will be within the ₹15,000 maximum cap plus GST.

• Valuation / Legal / Stamp Duty / CERSAI / Memorandum Registration Charges: These costs vary and are determined by the property’s location, its legal requirements, and the necessary documentation.

• Prepayment Penalty:

1. No penalty for refinancing floating-rate loans.
2. Fixed-rate loans do not incur a penalty for repayments from personal sources. Still, a 2% penalty applies if refinanced by another bank or adjusted through third parties, calculated on last year’s average balance.

• Home Loan Security: The loan requires a property mortgage. Interim security may be needed for properties under construction unless there’s an existing builder tie-up and a tripartite agreement.

• Insurance: The property must be fully insured for its value, excluding the land cost. The insurance should cover all risks and include a clause for the bank.

35 Lakh Union Bank of India Home Loan – Documents Required

Here are the required documents for Rs.35 Lakh Union Bank of India home loan:

• Two recent passport-sized photos for both new and existing customers.

• Documents required for identity proof include a passport, voter ID, driver’s license, PAN card, or Aadhar card.

• Some documents required for proof of address include an Aadhar Card, Passport, Voter ID, and Driver’s License.

• Documents that are required for proof of age are Birth Certificate, Passport, Driver’s License, and SSLC/AISSE Certificate.

• A PAN Card is required for all applicants. Existing customers can also provide their customer ID, debit card number, and previous KYC documents.

• Salaried individuals must provide the last 12 months’ salary account statements. This can be a scanned copy or PDF and is retrievable automatically for existing customers.
• Business Account Statement: Self-employed individuals must submit the most recent 12-month business account statement as a scanned copy or PDF. This is also automatically retrievable for existing customers where applicable.

35 Lakh Union Bank of India Home Loan – Eligibility Criteria

The Union Bank of India Rs. 35 Lakh Home Loan is open to both salaried and self-employed individuals with specific income and age requirements. Indian residents and Non-Residents Indians (NRIs) are eligible to apply for a Rs.35 Lakh home loan from Union Bank of India. However, the minimum age to apply is 18, and the applicant should not be more than 75 years of age at the time of loan maturity. With a stable income, individual or joint applicants can apply for this loan. A good credit score is essential to ensure a reliable credit history, and the loan amount will be determined based on the value of the property or the ability to repay the loan amount. If the applicant is a salaried employee, he/she must have a stable job with a reputable organisation. In the case of self-employed applicants, the business should be stable with documented proof and continuation of income.