United Bank of India Home Loan

I have read the Privacy Policy & Agree to Terms & Conditions and authorize Dialabank & its partner institutions to Call or SMS me with reference to my application.

Turn your dream home into reality

Rates as low as 6.90%*
Loans Up to 15 Crore
Doorstep Service
Hassle-free Disbursal
Unbiased Experts Advice

United Bank of India Home Loan

United Bank of India Home Loan Key Features

Feature Value
Interest Rate 6.90% onwards
EMI / Lakh Rs. 662
Loan Tenure Up to 30 years
Loan Amount Percentage based on property value
Loan to Value Ratio Up to 90% of property value
Loan Available on the Following Types of Property
  • New flat
  • Ready to Move-in House
  •  Plot From MHADA, DDA, etc.
  • Home construction
  • Home extension
  • Home renovation
Special Offer for Women Interest rate concession of 0.05%
Processing Fee Up to 0.5% of loan amount excluding GST
Prepayment Charges No prepayment charges for floating rates
Part Payment Charges Nil
Guarantor Required Nil

Please Note: The above figures are only indicative and are subject to change without any prior notice.


United Bank of India Home Loan Interest Rate

Home Loan Interest Rate

United Bank of India Home Loan Schemes Interest Rate For Women Interest Rate for Others
United Bank of India Home Loan 6.90% – 7.95% 6.90% – 8.00%
United Bank of India Reach Loan 6.90% – 14.00% 6.90% – 14.00%
Plot Loan 6.90% – 8.05% 6.90% – 8.10%
Rural Housing Loan 6.90% – 8.70% 6.90% – 8.70%
Home Improvement Loan 6.90% – 7.95% 6.90% – 8.00%
Home Extension Loan 6.90% – 7.95% 6.90% – 8.00%
Home Loan Top Up As per home loan slabs As per home loan slabs
Home Loan Balance Transfer 6.90% onwards 6.90% onwards

Please Note: The above rates and values are floating in nature and are based on adjustable rates. These are subject to change at the time of loan disbursement.


United Bank of India Home Loan Interest Rates & Offers May 2021

Home loan interest rates at the United Bank of India commence at 6.95 per cent per annum in May 2021. for a period of 30 years at the most, Its housing loans have a processing fee of up to 0.59 per cent, with a minimum of 1,180 dollars and a maximum of 11,800 dollars.

Loan Amount United Bank Repo Rate Home Loan Rate
Up to ₹ 30 Lakh 6.95%
₹ 30 Lakh – ₹ 75 Lakh 6.95%
₹ 75 Lakh – ₹ 1 Cr 6.95%
Above ₹ 1 Cr 6.95%

United Bank of India Home Loan Procedure

  • It’s possible to apply for a single or combined application, even though you have siblings.
  • There is a range of easy ways to make purchases.
  • Purchase of property in India is also possible for non-resident Indians.
The interest rate for floating rate home loan 6.80% to 7.40% p.a.
The interest rate for a fixed-rate home loan (up to 5 years) 11.40% to 12.65% p.a.
Processing fee 0.50% of the loan amount (subject to a maximum of Rs.15,000 plus GST as an app)

United Bank of India Pradhan Mantri Awas Yojana Subsidy 2021

The Indian government has introduced a slew of affordable housing loan schemes to make it easier for low- and middle-income people to get a home loan at a lower interest rate. The following are a few of the most popular schemes:

  1. a) PMAY, or the Home Loan Subsidy Scheme, was established in 2015 with the goal of providing housing to the homeless. If you meet the requirements, you can apply for PMAY at the United Bank of India. Find out more about the PMAY Program.
  2. b) Pradhan Mantri Gramin Awas Yojana: This program helps homeless families by providing pucca houses with basic amenities.

Compare United Bank of India Home Loan with Other Banks

United Bank of India provides a variety of low-interest home loan options. Before applying for a home loan, though, you can compare several banks and their deals.

Particulars United Bank of India SBI HDFC
Interest Rate 6.95% – 7.75% 6.70% – 7.05% 6.75% – 8.20%
Processing Fees Up to 0.59%

Min ₹ 1,180 Max ₹ 11,800

Min ₹ 10,000 Min ₹ 3,000
Loan Tenure 30 Years 30 Years 30 Years
Maximum Loan Amount ₹ 3 Cr ₹ 7 Cr ₹ 5 Cr
Age 21 – 65 Years 18 – 70 Years 24 – 65 Years
Benchmark Rate RLLR RLLR PLR
Lowest EMI Per Lakh ₹ 662 per lakh ₹ 645 per lakh ₹ 649 per lakh

United Bank of India Home Loan Customer Care

  • Customers can contact the United Bank of India at the numbers mentioned below if they have any questions about their home loans.
  • Toll-free: 1800-345-0345; international: 022-40429100

United Bank of India Home Loan Eligibility Criteria 

Eligibility Criteria For Home Loan

Salaried Individual:

  1. The applicant’s nationality should be Indian.
  2. The applicant must be between the age group of (Minimum) 18 years to (Maximum) 65 years.
  3. Must have working experience and a legitimate source of salary i.e working under the same employer for at least one year.

Self Employed Individual:

Applicants who are not professionally engaged in the working sector but have their own source of steady income are also eligible for the United Bank of India Home Loan. This includes everybody who is a:

  • Traders
  • Commission agent
  • Contractors

The following criteria must be met to apply for a home loan:

  1. The applicant’s nationality should be Indian.
  2. The applicant must be between the age group of (Minimum) 18 years to (Maximum) 65 years.

Self Employed Professionals:

Applicants who are professionally engaged in the working sector are also eligible for the United Bank of India Home Loan. This includes everybody who is a:

  • Doctors
  • Lawyers
  • Charted Accountant
  • Architect
  • Consultant
  • Engineer
  • Company Secretary

The following criteria must be met to apply for a home loan:

  1. The applicant’s nationality should be Indian.
  2. The applicant must be between the age group of (Minimum) 18 years to (Maximum) 65 years.

Additional Criteria for Co-applicants:

  • Co-applicant must be a family member of the primary applicant.
  • All co-applicants are not required to be the co-owners of the property.

Please find more information on Eligibility by visiting DialaBank.

Apply for Home Loan

United Bank of India Home Loan Documents Required

Documents Required for Home Loan

Salaried Individual:

Valid ID and Residence Proof: A copy of Proof of Identity and Residence such as Aadhaar, PAN, Driving License, Passport, Voter ID, etc.

Income Proof:

  • Bank Statements showing salary credits from the last 6 months.
  • Latest Salary Slips from the last 3 months.
  • Latest Form-16 and IT returns
  • Employment Contract/Appointment Letter if the current employment is less than a year old.

Property Related Documents:

  • A cheque for processing fee favouring ‘United Bank of India.’
  • Copy of the Buyer Agreement/Allotment Letter
  • Receipt/(s) of payment/(s) made to the developer

Self Employed Individual:

Valid ID and Residence Proof: A copy of Proof of Identity and Residence such as Aadhaar, PAN, Driving License, Passport, Voter ID, etc.

Income Proof:

  • Bank Statements showing salary credits from the last 6 months.
  • Business Profile and Previous 3 years Income Tax returns (Both self and business)
  • Previous 3 years Profit/Loss Account and Balance Sheet.

Proof Of Business: 

  • Educational Qualifications Certificates
  • Business achievements (Certificate or awards if any)

Property Related Documents:

  • A cheque for processing fee favouring ‘United Bank of India.’
  • Copy of the Buyer Agreement or Allotment Letter 
  • Receipt/(s) of payment/(s) made to the developer

Agriculturists:

KYC Proof – PAN Card (Mandatory) and any Driving License/Voter ID/Passport

Income Proof:

  • Bank Statements showing salary credits from the last 6 months.
  • Copies of title documents of agricultural Land showing crops being cultivated

Property Related Documents:

  • A cheque for processing fee favoring ‘United Bank of India.’
  • Copy of the Allotment Letter / Buyer Agreement
  • Receipt/(s) of payment/(s) made to the developer

Additional requirements for Co-applicants:

Passport size photograph of all co-applicants to be affixed on the Application Form and signed across

Apply for Home Loan

Common Documents for Salaried and Self-Employed

 

Terms Salaried Self Employed
Application Form with photo and signed by Primary Borrower and Co-borrower(s)
Identity Proof of Primary Borrower and Co-borrower(s) – PAN Card (Mandatory)
Residential Address proof of Primary Borrower and Co-borrower(s) – Any one of passport, Aadhaar card, voter I card, landline bill, registered rent agreement, driving license, bank statement or passbook or utility bill. Bills and statements must not be more than 3 months old
Office address – ownership/ lease / rent agreement/ utility bill

Different Home Loan Schemes By United Bank of India

United Bank of India Home Loan – For Resident Indians

This type of loan is specifically for those individuals who are Indian residents and require funds to purchase a house or a plot for further construction.

Specific Information for Home Loan Scheme
Eligible Profiles Available to Salaried and Sef-employed Individuals
Loan Amount Up to 90% of the value of Property
Interest Rate 6.90% onwards
Processing Fee Up to 0.50% of the loan amount or Rs. 3,000 (whichever is higher) + GST
Loan Tenure 30 years

United Bank of India Home Loan for NRI/PIO – For NRIs and PIOs

This type of loan is available to those who are NRIs, PIO, and OCI. The loan helps the individual who is willing to:

  • Purchase a flat, row house, bungalow in India from private developers in approved projects.
  • Properties can be purchased from Development Authorities such as DDA, MHADA, etc.
  • Construct on a plot allotted by a Development Authority in India or a freehold/leasehold plot.
  • Properties can be purchased in an existing Co-operative Housing Society, Apartment Owners Association, Development Authorities settlements, or privately built-up homes.

United Bank of India Plot Loans – For Buying a New Plot

This type of loan is specifically established for those individuals who are looking to purchase a new plot. This loan supports buying a new direct allotment plot or a plot from the resale.

Specific Information for Plot Loan Scheme
Eligible Profiles Available to Salaried and Self-employed Individuals
Loan Amount Up to 80% of the value of Property
Interest Rate 6.90% onwards (0.05% concession to women)
Processing Fee Up to 0.50% of the loan amount or Rs. 3,000 (whichever is higher) + GST
Loan Tenure 15 years

United Bank of India Top Up Loans – For United Bank of India Home Loan Borrowers

This scheme helps the borrowers to get additional funding over their already opted home loan. The funds from this scheme can be used for various personal and business purposes.

Specific Information for Top-Up Loan Scheme
Eligible Profiles Available to Salaried and Sef-employed Individuals
Loan Amount Up to 90% of the value of Property
Interest Rate New Customer – 6.90% onwards

Existing Customer – As per Home Loan Slabs

Processing Fee  Up to 0.50% of the loan amount or Rs. 3,000 (whichever is higher) + GST
Loan Tenure 15 years

United Bank of India Home Extension Loans – For Adding Space in Your Home

This type of loan is specifically for those individuals who want to extend or add space to their home property.

Specific Information for Home Extension Loan Scheme
Eligible Profiles Available to Salaried and Sef-employed Individuals
Loan Amount Up to 90% of the value of Property
Interest Rate 6.90% onwards
Processing Fee Up to 0.50% of the loan amount or Rs. 3,000 (whichever is higher) + GST
Loan Tenure 20 years

United Bank of India Home Loan Balance Transfer – For All Home Loan Borrowers

United Bank of India Home Loan Balance Transfer is available to those customers who are willing to lower their repayments.

Specific Information for Home Loan Balance Transfer Scheme
Eligible Profiles Available to Salaried and Sef-employed Individuals
Loan Amount Up to Rs. 50 Lakhs
Interest Rate 6.90% onwards
Processing Fee Up to 0.50% of the loan amount or Rs. 3,000 (whichever is higher) + GST
Loan Tenure 30 years

United Bank of India Home Loans under Pradhan Mantri Awas Yojana

This type of loan is specially established for EWS/LIG, families under MIG-I, and MIG -II categories. The validity of this scheme is up to 31 march 2022 (EWS/LIG), 31 march 2021 (Families under MIG-I and MIG -II categories).

Specific Information for Home Loan Pradhan Mantri Awas Yojana Scheme
Eligible Profiles Available to EWS/LIG, MIG-I, and MIG -II
Loan Amount No Cap
Interest Subsidy 3.00% onwards
Maximum Subsidy Up to Rs. 2.67 Lakhs
Loan Tenure 20 years

United Bank of India Reach Loans – For Indians With Income Of At least Rs. 10,000 Per Month

This type of loan is specifically for those individuals who are Indian residents with an income of Rs. 2 Lakhs per annum. This loan can cover the costs of purchasing a new or already built house, a new plot for further construction, renovations, and extension or construction on both residential and non-residential properties.

Specific Information for Reach Loan Scheme
Eligible Profiles Available to Salaried and Sef-employed Individuals
Loan Amount Up to 80% of the value of Property
Interest Rate 6.90% onwards
Processing Fee Up to 2% of the loan amount + GST
Loan Tenure 30 years

United Bank of India Rural Housing Loans – For Indians Living in Rural Areas

This type of loan is specifically for those individuals who are agriculturists, planters, horticulturists, dairy farmers, and others who are living in remote areas and are willing to buy an under-construction property or a new residential property or an existing residential property in rural and urban areas. This loan is also eligible for individuals who are salaried or self-employed!

Specific Information for Rural Housing Loan Scheme
Eligible Profiles Available to Salaried, Sef-employed Individuals and Agriculturists
Loan Amount Up to 90% of the value of Property
Interest Rate 6.90% onwards (0.05% concession to women)
Processing Fee Salaried/Self-employed – Up to 0.50% of the loan amount or Rs. 3,000 (whichever is higher) + GST

Agriculturists/ Self-Employed Non-Professionals – Up to 1.50% of the loan amount or Rs. 4,500 (whichever is higher) + GST

Loan Tenure 30 years

United Bank of India Home Improvement Loans – For Covering Home Renovation Costs

This type of loan is specifically for those individuals who want to renovate their homes but are not able to do so due to a lack of funds.

Specific Information for Home Improvement Loan Scheme
Eligible Profiles Available to Salaried and Sef-employed Individuals
Loan Amount New Customer – Up to 90% of the estimates from improvements.

Existing Customer – Up to 100% of the estimates from improvements.

Interest Rate 6.90% onwards
Processing Fee Up to 0.50% of the loan amount or Rs. 3,000 (whichever is higher) + GST
Loan Tenure 15 years

Advantages of United Bank of India Home Loan

United Bank of India Home Loan is a savior to those who are in need of financial support relating to home and plots. It offers the following:

  • A huge variety of home loan schemes.
  • The most helpful Pradhan Mantri Awas Yojana is also available.
    United Bank of India Home Loan
  • Provide a 0.05% concession to women to encourage them for their own homeownership.
  • Provide several repayment methods to choose from and opt the one best suited to you.
  • Full transparency as the United Bank of India promises no hidden costs and fees.
  • Easy application with minimum documentation and paperwork.
  • Provides loan approval prior to the selection of the property.

Apply for Home Loan

United Bank of India Home Loan Charges and Fees

Particulars Charges
Processing Fees Salaried Individuals: 0.50% of the loan amount or Rs. 3,000, whichever is higher
Self Employed Professionals: 0.50% of the loan amount or Rs. 3,000, whichever is higher
Self Employed Non-Professionals: Up to 1.50% of the loan amount or Rs. 4,500, whichever is higher
Prepayment charges No prepayment charges for floating rates
Check dishonor charges Up to Rs. 200
List of documents Up to Rs. 500
Photocopy Of documents Up to Rs. 500
PDC Swap Up to Rs. 200
Disbursement cheque cancellation charges post disbursement Up to Rs. 200
Increase/Decrease in the loan term Up to Rs. 500
Re-appraisal of loan post 6 months from sanction Up to Rs. 2,000

Please Note: The above figures are only indicative and are subject to change without any prior notice.


How to apply for the United Bank of India Home Loan

  • Visit  Dialabank for a Home Loan.
  • Go to the United Bank of India Home Loan page.
  • Check out all the eligibility and documents criteria for a Home Loan.
  • Fill out all the details required in the Home Loan application form.
  • Once done, our representative will soon contact you for a further stress-free process.

United Bank of India Home Loan EMI Calculator

Loan EMI Calculator 

Apply for Home Loan

United Bank of India Home Loan Pre Calculated EMIs

TABLE WILL APPEAR

Other Loan Products from United Bank of India

United Bank of India Personal Loan United Bank of India Gold loan United Bank of India Car Loan
United Bank of India Education Loan United Bank of India Two Wheeler Loan

News 

About 29,000 units were sold in seven major Indian cities in the third quarter of 2020

The third quarter in Bengaluru saw 5400 homes sold. In Delhi NCR, the figure was 5200 units for the same time frame.

Home loan interest rates have been cut by the Union Bank of India.

Union Bank of India recently reduced the interest rate on its home loans. For salaried creditors, a new annual rate of 6.7 per cent was created. The new interest rate is lower than the general community mortgages offered by the State Bank of India (SBI).

The Special Window for Affordable and Mid-Income Housing has approved housing projects worth Rs.4,197 crore (SWAMIH)

The SWAMIH fund has approved 33 housing projects totalling Rs.4,197 crore, resulting in the construction of over 25,000 residential units. The SWAMIH Investment Fund aims to complete programs that have been put on hold due to a lack of funds and are RERA-registered and in the mid-income bracket. More than 60,000 homes will be constructed across India thanks to the SWAMIH Investment Fund.

Home prices are expected to increase by 35% during the upcoming holiday season

The festive season in India, which lasts from October to December, is expected to see a 35 per cent rise in real estate sales. In the second quarter of 2020, sales rose. Many people consider the festive season to be an auspicious opportunity to buy a new home, so real estate buyers and developers can launch a host of tempting offers and incentives in order to attract more consumers.

The RBI will rationalize the risk weighting on home loans.

The Reserve Bank of India decided to rationalize risk weighting on housing loans in order to attract more interest. The danger weight is 35 per cent when the LTV is less than or equal to 80 per cent, and 50 per cent when the LTV is greater than 80 per cent but less than or equal to 90 per cent. According to a senior Bank of India official, the RBI’s decision would improve India’s housing sector, especially retail housing.

United Bank of India Home Loan FAQ

How to repay my United Bank of India home loan?

There are different payment methods through which you can repay your United Bank of India home loan, this can be done:

  • By issuing Standing Instructions to pay the loan instalments through Electronic Clearing System.
  • By opting for direct deduction of monthly instalments by your employer.
  • By issuing post-dated cheques from your salary account.

When can you apply for the United Bank of India’s top-up loan?

A year after the disbursement of the existing loan amount and the possession or completion of the financed property.

In the case of prepayment is made, is there any change in home loan EMI?

United Bank of India accepts a prepayment at nil charges in case of floating rate home loans. When a prepayment is made, the outstanding balance of the principal amount on your home loan gets reduced.

What is the maximum loan amount from the home loan can I get on my salary?

A customer can get the loan amount on his/her salary, depends on their repayment capacity. To determine the repayment capacity the following variables are considered: age, the number of dependants, credit history, education qualification, current liabilities, etc.

What is a Floating Interest Rate?

Floating interest rates are different from the fixed rates, the rates are not the same throughout the loan tenure. It may vary with the change in the lender’s benchmark rate.

How DialaBank can help you get a Home Loan?

Dialabank is a bridge to find the best option between several Banks and NBFCs by providing you with a detailed and structured market comparison of different banks. This eliminates the unnecessary worries about the complex information and process you have to go through if you choose to search and applying by own.

✅ How the rate of interest will change if the interest rate is linked to PLR?

Home Loan Interest Rate is linked to PLR, and any change in PLR will lead to a change in rates of interest on the home loan. Interest rates on home loan account will rise or fall with the increase or decrease of PLR, proportionately.

Who is a Co-obligate or Guarantor?

Co-obligate or guarantor is an individual who undertakes to re-pay the bank loan in case the principal borrower fails. The amount of his liability will be the same as that of the principal borrower and the Bank can take strict actions against him for recovery along with the principal borrower. Guarantor can’t say that his liability will start only after the remedies against the principal borrower are exhausted.

Is there an option for pre-closure of a loan account?

A pre-closure option is also available and charges will be levied at rates as decided by the lender

Does missing an instalment effects CIBIL?

Non-payment of EMIs as per terms and conditions will adversely affect the credit rating of the borrower.

Are there any penalty Charges?

Penalty charges of 2% will be levied on the instalment amount unpaid.

How is the calculation of interest rates is done?

Interest rates charged on a daily balance method and are debited once a month in your loan account. A 2% penalty on the unpaid Installment amount will be charged.

Table of Contents