City Union Bank Plot Loan

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City Union Bank Plot Loan Features

The Interest Rate 7.00% onwards
Prepayment Charges As decided by the bank during the documentation process
Loan to Value Base upon the value of the property the bank will decide, usually 80% – 90%
Processing Fees 0.50% plus the additional GST charges

Eligibility criteria for City Union Bank Plot Loan

  • The applicant’s nationality must be Indian.
  • The applicant must be between the ages of (minimum) 18 years and the maximum age can be as high as 65 years.
  • Applicant must have experience working with a legitimate source of income eg working under the same employer for at least one year or in case of self-employed legitimate business and its documents.

Benefits of City Union Bank Plot Loan

city union bank plot loan

 
  • City Union Bank offers a wide range of plot loan strategies tailored to the diverse needs of clients.
  • Interest rates are very competitive and expensive.
  • Provides Payment Options and Conditions to Borrowers.
  • Easy and quick approval and home loan disbursement.
  • It has a dedicated team of experienced staff and offers personalized services.
  • The 24/7 customer service of City Union Bank provides customer service on time.

Plot Loan

Banks such as City Union Bank offer plot loans to both salaried and self-employed people with good credit scores and clean credit history and payment tracking. People take land or rent land to buy land as a future investment or to build a home on it in the future.

1. Tenure

In the long run, interest rates rise on home loans at City Union Bank. Currently the lowest interest rate is 10.50% over a five-year period. If you choose a period of 15 years or more, you can end up repaying a home loan with an interest rate of 13%.

2. Prepayment Fine

Usually no prepayment fee is charged for individual applicant.

3. Loan to Value Ratio‭ (‬LTV‭)‬

Depending upon the documents the bank decides the LTV ratio for the plot

4. Interest Rates

City Union Bank offers a choice of floating prices and fixed rates. The float level will change according to the conditions of each market. The fixed rate does not change during the loan period. Banks offer additional benefits and offers floating prices.

Types of City Union Bank Plot Loan

City Union Bank Plot loan

With this plot loan the borrower can only purchase a plot. The plot must be empty.

City Union Bank Plot with Construction Loan

With this Plot loan the borrower has to start construction over the land that was purchased with the help of the loan amount and if the borrower fails to start construction within the specified time addition charges can be levid on the loan amount.

City Union Bank plot loans for self-employed

Type of plot loans self-employed

TruFixed plot Loan – 2 Year Fixed Rate Vary
In TruFixed plot Loan by City Union Bank, a fixed-rate amount for 2 years is allowed, after 2 years it turns into a variable rate loan.

Adjustable-rate loan
In this loan by City Union Bank the interest rate automatically changes can be 6 months, due to which EMI charges increase.

City Union Bank Plot Loan Interest Rates For self-employed Non – Professionals

City Union Bank Adjustable Home Plot Loan

Loan Plot Loan Interest Rate (%)
women (up to 30 lakh) 7.05 to 7.55
others (up to 30 lakh) 7.10 to 7.60
women (above 30 lakh) 7.30 to 7.80
others (above 30 lakh) 7.35 to 7.85
Women (75.01 Lakhs & Above) 7.40 to 7.90
Others (75.01 Lakhs & Above) 7.45 to 7.95

City Union Bank TruFixed Loan – 2 Year Fixed Rate Variant

Loan Plot Loan Interest Rate (%)
Women (upto 30 Lakhs) 7.50 to 8
Others (upto 30 Lakhs) 7.55 to 8.05
Women (Above 30 Lakhs) 7.65 to 8.15
Others (Above 30 Lakhs) 7.70 to 8.20
Women (75.01 Lakhs & Above) 7.75 to 8.25
Others (75.01 Lakhs & Above) 7.80 to 8.30

City Union Bank Plot Loan Interest Rates For self-employed professionals

City Union Bank Adjustable Rate Plot Loan

Loan Plot Loan Interest Rates (%)
Women (upto 30 Lakhs) 7.20 to 7.70
Others (upto 30 Lakhs) 7.25 to 7.75
Women (Above 30 Lakhs) 7.45 to 7.95
Others (Above 30 Lakhs) 7.50 to 8
Women ( 75.01 Lakhs & Above) 7.55 to 8.05

City Union Bank TruFixed Loan – 2 Year Fixed Rate Variant

Loan Plot Loan Interest Rates (%)
For Women (up to 30 Lakhs) 7.65 to 8.15
For Others (up to 30 Lakhs) 7.70 to 8.20
For Women (Above 30 Lakhs) 7.80 to 8.30
For Others (Above 30 Lakhs) 7.85 to 8.35
For Women ( 75.01 Lakhs & Above) 7.90 to 8.40
For Others ( 75.01 Lakhs & Above) 7.95 to 8.45

City Union Bank Plot Loan documents required for both self-employed Professionals and Non-Professionals

Requirements For Self Employed Individuals
Proof of Identity PAN Card, Passport
Proof of address Aadhar Card, Electricity/ Mobile Bill
Financial proof – ITR
– Business details, P/L statement from the business.
Other Documents – All the plot documents

City Union Bank Plot loan fees and charges for self-employed

Processing fee

For self-employed professionals and Unprofessional self-employed the bank decides the processing fee during the process of documentation.

Prepayment charges

Adjustable-Rate Home Loans
– No prepayment needed

– The customer will be required to submit documents that City Union Bank deems appropriate and appropriate to verify the source of the loan at the time of the payment.
Fixed-Rate Home Loans
– No advance payment is required for any partial/full payment made by your sources i.e, other banks or financial institutions
– The customer must submit documents that City Union Bank Bank deems appropriate and appropriate to determine the source of funding.
Fixed and Variable Rate Loans
During the period of Fixed-Rate:
– The client must submit documents approved by City Union Bank to verify the source of the money during the repayment of the loan in advance.

During the Variable Rate:
– No prepayment will apply.
– The prepaid amount shown will apply on the date of the loan agreement.

The Conversion Fees

Name of the Service Name of the charge/fee levied When payable Frequency Amount
Switch to a lower rate in Variable Rate Loans Conversion fees On conversion On every spread change A cap of up to 50% of the original outstanding and the stipulated amount at the time of conversion or whichever is lower is Rs. 50,000,000 tax.
Switching to Variable Rate Loan from Fixed Rate Loan Conversion fees On conversion Once A cap of up to 50% of the original outstanding and the stipulated amount at the time of conversion or whichever is lower is Rs. 50,000,000 tax.
Switching from Trufixed Fixed Rate to Variable Rate Loan Conversion fees On conversion Once 1.75% original arrears and tax in excess of the undisputed amount at the time of conversion.
Switch to Lower Rate Conversion fees On conversion On every spread change Half of the spread difference on principal dues and unspecified amount plus taxes with a minimum fee of 0.5% and a maximum fee of 1.550%.
Switch to Lower Rate Conversion fees On conversion On every spread change 0.5% of tax in excess of the original outstanding and undisputed amount at the time of conversion.

Cheque dishonor charges

Minimum charge Rs 200.

Fees on Account of External opinion

Outside Opinion may be either from technical value or from advocates and fees may be paid directly to the person concerned, depending on the type of support provided

Property insurance

The customer should regularly pay the premium amount directly to the insurance provider to remain active throughout loan term during the policy

Statutory/regulatory charges

The applicant must pay for the stamp duty, mod or moe.

List of documents

Minimum charge Rs.500

Photocopy of documents

Minimum charge Rs.500

Increase/decrease in loan term

Minimum charge Rs.500

Disbursement Cheque cancellation charge post disbursement

Minimum charge Rs.200

Re-appraisal of loan

Minimum charge Rs.2000

PDC swap

Minimum charge Rs.200

City Union Bank plot loans for salaried individuals

Who can apply City Union Bank plot loans for salaried individuals?

Loan Maximum Amount(in %)
Up to Rs.30 lakh up to 80%
Rs.30.01 lakh to Rs.75 lakh up to 80%
Over Rs.75 lakh up to 75%

Type of plot loans for salaried individuals

TruFixed plot Loan – 2 Year Fixed Rate Vary
In TruFixed plot Loan by City Union Bank, a fixed-rate amount for 2 years is allowed, after 2 years it turns into a variable rate loan.

Adjustable-rate loan
In this loan by City Union Bank the interest rate automatically changes can be 6 months, due to which EMI charges increase.

City Union Bank plot loan interest rates for salaried individuals

Adjustable Home Rate Loan

Loan Loan Interest Rates (in %)
Women (Upto 30 Lakhs) 7.05 to 7.55
Others (Upto 30 Lakhs) 7.10 to 7.60
Women (Above 30 Lakhs) 7.30 to 7.80
Others (Above 30 Lakhs) 7.35 to 7.85
Women (75.01 Lakhs & Above) 7.40 to 7.90
Others (75.01 Lakhs & Above) 7.45 to 7.95

TruFixed Loan – 2 Year Fixed Rate Variant

Loan Loan Interest Rates (%)
For Women (upto 30 Lakhs) 7.50 to 8
For Others (upto 30 Lakhs) 7.55 to 8.05
For Women (Above 30 Lakhs) 7.65 to 8.15
For Others (Above 30 Lakhs) 7.70 to 8.20
For Women (75.01 Lakhs & Above) 7.75 to 8.25
For Others (75.01 Lakhs & Above) 7.80 to 8.30

City Union Bank plot loan documents required for salaried individuals

Requirements For Salaried Individuals
Proof of Identity PAN Card, Passport
Proof of address Aadhar Card, Electricity/ Mobile Bill
Financial proof – Must have last 6-month salary slips
– Credit score
Other Documents – All the plot documents

City Union Bank plot loan fees and charges for salaried individuals

Processing fees

For salaried individuals the bank decides the processing fee during the process of documentation.

Prepayment charges

Adjustable-Rate Home Loans
– No prepayment needed

– The customer will be required to submit documents that City Union Bank deems appropriate and appropriate to verify the source of the loan at the time of the payment.
Fixed-Rate Home Loans
– No advance payment is required for any partial/full payment made by your sources i.e, other banks or financial institutions
– The customer must submit documents that City Union Bank deems appropriate and appropriate to determine the source of funding.
Fixed and Variable Rate Loans
During the period of Fixed-Rate:
– The client must submit documents approved by City Union Bank to verify the source of the money during the repayment of the loan in advance.

During the Variable Rate:
– No prepayment will apply.
– The prepaid amount shown will apply on the date of the loan agreement.

Conversion fees

Name of the Service The charge levied When payable Frequency Amount (in Rs.)
Switch to lower rate in Variable Rate Loans Conversion fees On conversion On every spread change A cap of up to 50% of the original outstanding and the stipulated amount
Switching to Variable Rate Loan from Fixed Rate Loan Conversion fees On conversion Once A cap of up to 50% of the original outstanding and the stipulated amount
Switching from Trufixed Rate to Variable Rate Loan Conversion fees On conversion Once 1.75% original arrears and tax
Switching to Lower Rate Conversion fees On conversion On every spread change A min. fee of 0.5% and a max. fee of 1.550%.
Switching to Lower Rate Conversion fees On conversion On every spread change 0.5% of taxes

Cheque dishonor charges

Minimum charge Rs 200.

Fees on Account of External opinion

Outside Opinion may be either from technical value or from advocates and fees may be paid directly to the person concerned, depending on the type of support provided

Property insurance

The customer should regularly pay the premium amount directly to the insurance provider to remain active throughout loan term during the policy

Statutory/regulatory charges

The applicant must pay for the stamp duty, mod or moe.

List of documents

Minimum charge Rs.500

Photocopy of documents

Minimum charge Rs.500

Increase/decrease in loan term

Minimum charge Rs.500

Disbursement Cheque cancellation charge post disbursement

Minimum charge Rs.200

Re-appraisal of loan

Minimum charge Rs.2000

PDC swap

Minimum charge Rs.200

How to apply for City Union Bank Plot Loan With DialAbank

  • Now you can get City Union Bank Plot Loan directly from Dialabank easily.
  • Please fill the form and submit as asked.
  • After submitting Dialabank representative will get in touch with you within 5-6 hours, and help you with the further process.
  • Call 9878981166 to get to know more.

Additional tips to get City Union Bank Plot Loan Easily

  • Stay updated from the bank by visiting the website.
  • Always check your documents i.e. be sure they are genuine.
  • Check the interest rates and EMI to be charged by the bank.

City Union Bank Plot loan with Construction vs Home Loan

Parameters Plot Loan with Construction Regular Home Loan
Tenure ‬Up to 15‭ ‬years Up to 30 years
Prepayment fine Free Free
Loan to Value (LTV) up to 80% – 90% can be ‬90%‭
Plot with Construction Loan interest rates The rates are similar to a home loan but can go higher. Start at 6.80%*
Tax Benefits Eligible after the construction of a building or home on the plot Home loan owners are eligible.

FAQ’s

 What is the Plot loan interest rate in the City Union Bank?

The City Union Bank plot loan starts at 7.00%.

 What is a City Union Bank Plot Loan?

Banks such as City Union Bank offer plot loans to both salaried and self-employed people with good credit scores and clean credit history and payment tracking. People take land or rent land to buy land as a future investment or to build a home on it in the future.

 How much processing fee is applicable to the City Union Bank Plot loan?

City Union Bank charges 0.50% plus the additional GST charges.

 What is the loan tenure of the City Union Bank Plot loan?

The City Union Bank plot loan tenure will be decided by the bank as per the applicant’s loan history and plot documents.

 How much EMI per Lakh can be fixed on City Union Bank Plot Loan?

The City Union Bank plot loan EMI per Lakh is ₹ 751.

 How can I avail plot loan from City Union Bank Bank?

After passing the eligibility for plot loan by City Union Bank you can avail of a plot loan from City Union Bank.

 How to Apply for City Union Bank Plot loan?

Go to the website of Dialabank or City Union Bank and proceed accordingly.

 How to repay the City Union Bank plot loan earlier than the schedule?

Visit the City Union Bank website and check if you are eligible for the earlier payment.

 Is it possible to repay my loan earlier than the schedule?

Yes, you can repay your loan earlier than the schedule for the City Union Bank plot loan.

 How to check City Union Bank + Plot Loan eligibility?

Please check the eligibility requirements mentioned on the Dialabank website or the website of the City Union Bank.

 What is the City Union Bank Plot loan phone number?

For City Union Bank Plot loan, easily call – 9878981166.

 What is City Union Bank plot loan interest rate for women?

For women, the City Union Bank plot loan interest rate starts from 7.00% – 7.05%. 

 What is City Union Bank plot loan interest rates for salaried individuals?

Salaried Individuals – 7.10%.

 What is City Union Bank plot loan interest rates for self-employed individuals?

 Self-Employed – 7.10%.

 What is City Union Bank plot loan interest rates for self-employed non-professionals?

 Self-Employed Non-Professionals – 7.10%.

 How is a plot loan different from a home loan?

Some differences:

  • Tax benefits for City Union Bank Home loan owners but City Union Bank plot loans don’t have any tax benefits.
  • The LTV ratio in City Union Bank plot loans is not much as compared to City Union Bank home loans.

 Can I take a plot loan along with a home loan?

No, multiple loans are not allowed for City Union Bank.

 What is the maximum amount that I can take as a loan?

The maximum loan amount is determined by City Union Bank after checking your land documents.

 Can a plot loan finance an investment in any plot, anywhere?

Yes, a City Union Bank plot loan can be used to purchase plot anywhere within the country.

 What is a Balance Transfer on Plot Loan?

Balance Transfer for City Union Bank plot loan helps you lower your EMIs by transferring your remaining loan to other financial institutions to one that offers a lower interest rate.

 Do I get any tax benefits on a plot loan?

No tax benefits in City Union Bank plot loan.

 How many years can I keep the plot of land before starting construction?

For City Union Bank plot loan with Construction please check with the City Union Bank by calling Dialabank at 9878981166.

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