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United Bank Home Loan Interest Rate Calculator - Aug 2017

Last Updated 16th Aug 2017

United Bank of India Home Loan Interest Rates

Interest Rate 8.55% - 8.55%
Check Best Offers
Lowest EMI Rs. 772 per lakh
Max Tenure 30 years
Processing Fee
Prepayment, Foreclosure Charges Allowed with nil charges for floating rate loans
Age Min 21 and Max 60 years for Salaried
Min 21 and Max 65 years for Self Employed
Apply Home Loan @ 8.35%*
Rs.
Rs.
+91

United Bank of India Home Loan

United Bank of India offers housing loan to people who want money to purchase a house, home renovation and home extension etc. The house itself acts as a security to the loan. Taking a loan from United Bank of India has the following benefits:

    United Bank of India Home Loan Interest Rates

    In addition to its regular loan products, bank also offers customized loans for special categories of borrowers. Bank offers lower rates to ladies borrowers. Click on the details to get slabwise interest rates.

    United Bank of India Floating Rate Home Loans

    Product Interest Rates
    United Bank of India Home Loan Floating 8.55%
    Details+

    United Bank of India home loan interest rate depends upon

    • Loan amount: Housing loan rate in United Bank of India depends upon the loan amount you apply for. Higher the loan amount, lesser will be the rate
    • Your Salary: Income helps you in identifying your rate of interest. Bank's rate varies with your monthly income. Higher the income, lesser will be the rate
    • Type of loan opted for: United Bank of India also offers differential rates for women borrowers and also under their fixed and floating rate schemes. The rate of interest may be higher or lower under their special or popular loan product offers.

    United Bank of India Eligibility Criteria

    United Bank of India has detailed criteria to determine a potential borrower’s eligibility for housing loans. Some of the key criteria are:

    United Bank of India Home Loan Eligibility Criteria
    Age 21 - 60 years
    Minimum Credit Score 650 and above
    Loan Amount Rs. 1,500,000 to Rs. 30,000,000
    Loan to Value Ratio Upto 90%
    FOIR (Fixed Obligations to Income Ratio) Up to 0.65
    • Age: Age plays an important role to know your eligibility and repayment capacity. United Bank of India offers loan to salaried at the age of 21 to 60 years and self- employed individuals at 21 to 65 years. A borrower taking a home loan at the age of 50 cannot get a loan of more than 10 years, which may result in lower loan eligibility and monthly EMI given higher servicing burden on his existing income. A person taking a loan at the age of 25, can get loan of up to 30 years, thus reducing servicing burden on his existing income and hence, improving his loan amount eligibility
    • Income: In case of salaried person, loan eligibility significantly depends upon the income. Usually bank set minimum levels of income to apply for house loan. . Salaried employee should be in government job or working with a reputed private company and getting regular salary in bank account with salary slip, form 16
    • Job stability and Profession: Job stability is important to improve your status and eligibility for home loan. In case you are salaried, you must be in a full time job for at least years. In case you are self-employed, minimum turnover and minimum net income criteria may apply. United Bank of India also looks for business vintage (number of years a business has been in existence of years. Business must be registered with at least one government agency such as service tax, VAT, excise, shops and establishment registrar. Other than job stability, profession is also an important factor which can affect your loan eligibility. If you are working with a reputed company, probability of getting house loan from United Bank of India increases as the income is considered to be more stable
    • CIBIL Score: Your past CIBIL history and repayment record of existing loans and credit cards has direct impact on your loan eligibility. If you have a poor repayment record, then you may not get the loan but on the other side, a regular repayment record increases your house loan eligibility. United Bank of India looks for a minimum credit score of 650 and above
    • Loan Amount Bank gives you loan depending upon your loan eligibility. United Bank of India gives you an amount ranging from Rs. 1,500,000 to Rs. 30,000,000. To improve chances of approval, apply for a loan amount that you can comfortably service
    • Property Value: The value of the property to be purchased is used to calculate your maximum loan eligibility based on the maximum permissible LTV ratio which can range upto 90%. United Bank of India will get a detailed property assessment done to establish that all legal titles are in place, the market is saleable or liquid and to get an estimate of the fair market value of the property. LTV is calculated based on the estimated fair market value or registered value, whichever is lower
    • Fixed Obligations to Income Ratio (FOIR): United Bank of India will also calculate the proportion of your fixed obligations (including EMIs paid on other existing loans) to your income to calculate the Fixed Obligations to Income Ratio, popularly known as FOIR. In summary, fixed obligations include estimated average monthly expenses and EMIs you are paying on other existing loans. Minimum FOIR to be eligible for a United Bank of India home loan is 0.65

    United Bank of India Loan Eligibility Calculator and EMI Calculator

    United Bank of India Home Loan Eligibility is the amount of loan you can avail based on an assessment of your repayment capacity as well as the value of property. It is important to calculate eligibility for housing loan from United Bank of India. You can use eligibility calculator to get a fairly accurate estimate of your potential eligibility subject to the information provided by you.

    Further, you can also use the United Bank of India Home Loan EMI Calculator online to calculate your house loan EMI. EMI is a fixed amount that you pay each month towards the repayment of yourloan till the end of tenure

    • EMI calculator of United Bank of India helps you to calculate your monthly EMI at different rate of interest and also check and compare lowest EMI per lakh on home loan.
    • You can plan your loan amount according to your monthly repayment capacity because higher the loan amount, higher will be the EMI
    • Rate of interest is an important factor which affects your EMI. Higher the rate, higher will be the EMI
    • Loan tenure matters equally as higher tenure reduces your EMI

    What are the benefits of calculating United Bank of India Housing Loan EMI?

    • EMI calculator helps you to calculate your monthly EMI at different rate of interest
    • United Bank of India Housing Loan EMI calculator helps you to know your capacity to repay the loan after maintaining your standard of living
    • You get a rough idea about your monthly EMI and can plan your monthly budget accordingly

    Other Home Loan Charges

    In addition to interest rates, home loan also carry some other charges which include:

    • Foreclosure Charges - These charges are to be paid in case you want to repay your entire loan amount before the end of tenure period. United Bank of India allows prepayment of house loan with prepayment charges
    • Processing Fee - United Bank of India charges a processing fee of with applicable tax
    • Other Charges - Bank also charges technical and legal charges which are explained to the customer during the loan process.

    Home Loan Products

    United Bank of India offers customized products for specific customer segments designed to meet their loan requirements. Some of the popular products with their basic features are as follows:

    Housing Loan United Bank documents required

    For Salaried employee

    • Filled up loan application form
    • 2 Passport Size Photo
    • Identity Proof - Passport/ Driving Licence/ Voter ID/ PAN
    • Residential Address Proof - Leave and License/ Registered Rent Agreement/ Utility Bill (upto 3 months old), Passport
    • Income Documents – 6 months payslip, 2 years Form 16, 6 months bank statement showing salary credit and any EMI debit

    For Self-Employed

    • Filled up loan application form
    • 2 Passport Size Photo
    • Identity Proof - Passport/ Driving License/ Voter ID/ PAN
    • Residential Address Proof - Leave and License/ Registered Rent Agreement/ Utility Bill (upto 3 months old), Passport
    • Business proof such as VAT/ service tax registration, incorporation details in case of companies, business address proof, profit and loss account and balance sheets certified by CA, copy of partnership deed and proof of business existence and business profile

    Frequently Asked Questions

    Why to take home loan from United Bank of India?

    United Bank of India offers housing loan at 8.55% rate with the lowest EMI of Rs. 772 per lakh. If you are paying EMI more than this then you can opt for balance transfer and relocate your loan to United Bank of India.

    What is the maximum loan tenure I can opt under United Bank of India house loan?

    United Bank of India offers you a longer tenure of 30 years to repay your loan with a benefit of paying less EMI per month.

    Do I get tax benefit on home loan from United Bank of India?

    As per Indian Income Tax Act of 1961, residents of India are eligible for tax benefits on principal amount and interest components of a home loan under the section 24 and section 80C of Income Tax Act.

    Can I foreclosure my home loan? What are the charges applicable?

    Yes, you can foreclose your loan with Nil charges.

    Can I transfer my house loan from another bank to United Bank of India?

    Yes, Bank gives you the facility to transfer your existing loan with a hassle free process. Loan balance transfer to United Bank of India offers you to pay lower EMIs and save money.

    Can I club the income of my spouse with mine and apply for joint home loan?

    You can club the income of your spouse to increase your loan eligibility if the spouse is co-owner of the property or guarantor of the loan.

    What is the benchmark applicable for housing loan?

    The benchmark applicable for home loan in United Bank of India is 6 Month MCLR.

    What is the effect of part payments on United Bank of India housing loan EMI ?

    Part payments help you in reducing the outstanding amount of loan which in turn will reduce the interest amount due. After making part payments, paying the same EMI will increase your involvement towards the principal amount which will help you in repaying the loan faster.

    How to increase my eligibility on United Bank of India housing loan?

    If your spouse or family member is earning well, you can make your spouse or family member the co-applicant for your loan. The combination of both of your income will help you in increasing your eligibility to get loan.

    How will interest rate on United Bank of India housing loan change in future?
    • Floating rate on United Bank of India housing loan is linked to its 6 Month MCLR Rate, which is currently at 8.55%. When Bank offers a home loan at 8.55%, it applies a premium of 0% to its MCLR Rate to arrive at this home loan rate.
    • When RBI increases rates, the bank may increase its MCLR rate and the applicable interest rate for all existing and new home loans would increase. When RBI cuts interest rates and the bank reduces the MCLR rate, the benefit of lower rates will have to be passed to both old borrowers and new house loan accounts.

    United Bank Home Loan in India

    United Bank of India Home Loan Interest Rate Customer Care Number, Email, Application Status, Branches

    City Customer Care Number
    Agra 1800-345-0345
    Ahmedabad 1800-345-0345
    Ambala 1800-345-0345
    Anand 1800-345-0345
    Aurangabad 1800-345-0345
    Bangalore 1800-345-0345
    Bhilai 1800-345-0345
    Bhilwara 1800-345-0345
    Bhiwadi 1800-345-0345
    Bhopal 1800-345-0345
    Bhubaneswar Cuttack 1800-345-0345
    Bikaner 1800-345-0345
    Chandigarh 1800-345-0345
    Chennai 1800-345-0345
    Cochin 1800-345-0345
    Coimbatore 1800-345-0345
    Dehradun 1800-345-0345
    Delhi 1800-345-0345
    Durg 1800-345-0345
    Faridabad 1800-345-0345
    Gandhinagar 1800-345-0345
    Ghaziabad 1800-345-0345
    Goa 1800-345-0345
    Greater Noida 1800-345-0345
    Gurgaon 1800-345-0345
    Guwahati 1800-345-0345
    Gwalior 1800-345-0345
    Hyderabad 1800-345-0345
    Indore 1800-345-0345
    Jabalpur 1800-345-0345
    Jaipur 1800-345-0345
    Jalandhar 1800-345-0345
    Jodhpur 1800-345-0345
    Kanpur 1800-345-0345
    Karnal 1800-345-0345
    Kolhapur 1800-345-0345
    Kolkata 1800-345-0345
    Kota 1800-345-0345
    Kozhikode 1800-345-0345
    Lucknow 1800-345-0345
    Ludhiana 1800-345-0345
    Madurai 1800-345-0345
    Meerut 1800-345-0345
    Mehsana 1800-345-0345
    Mohali Sas Nagar 1800-345-0345
    Mumbai 1800-345-0345
    Mussoorie 1800-345-0345
    Nagpur 1800-345-0345
    Nashik 1800-345-0345
    Noida 1800-345-0345
    Noida Extn 1800-345-0345
    Panipat 1800-345-0345
    Patna 1800-345-0345
    Pondicherry 1800-345-0345
    Pune 1800-345-0345
    Raipur 1800-345-0345
    Rajkot 1800-345-0345
    Ranchi 1800-345-0345
    Rohtak 1800-345-0345
    Roorkee 1800-345-0345
    Salem 1800-345-0345
    Shimla 1800-345-0345
    Sonepat 1800-345-0345
    Surat 1800-345-0345
    Trichy 1800-345-0345
    Udaipur 1800-345-0345
    Vadodara 1800-345-0345
    Varanasi 1800-345-0345
    Vijaywada 1800-345-0345
    Vizag 1800-345-0345
    United Bank Of India Home Loan Interest Rate
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    *Terms and conditions apply. Credit at sole discretion of lender subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and from collected from public sources. MyLoanCare is an independent professional service provider and is not related to the government or government bodies or any regulator or any credit information bureau in any way. Information carried at this website is not and should not be construed as an offer or solicitation or invitation to borrow or lend. The Company does not undertake any liability with respect to the correctness of the content, information and calculations. Information is subject to change without notice. By submitting your query or using any tools or calculators, you authorize MyLoanCare to share your information with lender(s), consent for such lender(s) to access your credit information report and contact you regarding your query overriding your number being in National Do Not Call Registry. This is a free service and no charges are payable by the borrower to MyLoanCare. The Company may receive remuneration from lenders for services provided to them.