55 Lakh Union Bank of India Home Loan

There is no limit on the quantum of the loan

Starts at 8.35% per annum onwards

Up to 30 years in case of purchase/construction

Up to 15 years in case of repair/renovation

For purchase/construction of a new home or repair & renovation of current home

Purchase/construction – 36 months
Repair and renovation – 12 months

EMIs, EQI, Step-Up Repayment Method, Balloon Repayment Method, Flexible Loan instalment Plan (FLIP) Method, Bullet payment

Indians & NRIs above the age of 18

Fixed-rate loans do not incur a penalty if prepaid using personal funds. However, there is a 2% take-over penalty on the average balance if the loan is transferred to another bank or settled in a lump sum, except for genuine sales.

Proof of identity documents include a PAN card, Voter ID, Passport, or Aadhaar card. Proof of address documents include a driver’s licence, Passport, or Aadhaar card. Two recent passport-sized photographs are also required.

Income proof includes the last 2 years’ ITR/Form 16, the most recent 3 salary slips, and evidence of any additional income not reflected in the ITRs/Form 16.

Income proof includes the last 3 years ITR and evidence of any additional income not reflected in the ITRs/Form 16. Bank statements for the past 6 months are also required.

Required documents include the sale agreement or allotment letter, ownership documents (title deed, original sale deed, share certificates, etc.), receipts for advance payments, and an approved plan from the local authority. An NOC from the builder/developer/society and statutory/regulatory construction approvals are needed. For construction/extension/repairs, estimate the associated costs.

Required documents include the sanction letter, account statement for the past 12 months, and a list of documents held by the bank or financial institution on official letterhead. Also needed is an authorisation letter from the applicant, allowing the bank or financial institution to hand over the security documents to our bank’s authorised representatives.

Required documents include an attested, English-translated employment contract or offer letter, current work permit, passport copy, stamped visa, employer-issued identity card, and local address proof, if available.