City Union Loan Against Property Interest Rate Calculator - Mar 2017

City Union Bank Loan Against Property Interest Rates

Last Updated 29th Mar 2017
Interest Rate 14.75% - 16.25%
Check Special Offers
Lowest EMI Rs. 2,366 per lakh
Max Tenure 5 years
Prepayment, Foreclosure Charges Allowed with nil charges for floating rate loans to individuals
Age Min 21 and Max 60 years for Salaried
Min 21 and Max 65 years for Self Employed
Apply Loan Against Property Online @9.50%*
 Salaried   Self Employed - Professional   Self Employed - Business 

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City Union Bank Loan Against Property

City Union Bank offers Loan Against Property to the customers if they need to expand their business or want money for personal use. The loan is given upto 50% of the market’s value for tenure of 5 years.

Loan Against Property City Union

Loan Against Property interest rates offered by City Union Bank depends upon MCLR
  • Floating rates changes with a single change in City Union Bank MCLR rate in your loan tenure. You should go for floating rates if you can take the risk of hike in interest rates
City Union Bank offers Property Loan based on 6 Month MCLR which is currently 9.40%
City Union Bank mortgage loan interest rate depends upon
  • Loan amount: City Union Bank mortgage loan rate depends upon the loan amount you apply for. Higher the loan amount, lesser will be the interest rate
  • Company where you work: City Union Bank has a list of companies to which they lend Loan Against Property. Interest rate will be less if your company is listed
  • Your Salary: Income helps you in identifying your rate of interest. City Union Bank interest rate varies with your monthly income. Higher the income, less will the rate of interest

Loan Against Property Charges

Foreclosure Charges - These charges are to be paid in case you want to repay your entire loan amount before the end of tenure period. City Union Bank allows prepayment of loan against property with Nil prepayment charges

City Union Loan Against Property EMI Calculator

Loan Against Property EMI of City Union Bank is a fixed amount that you pay each month towards the repayment of your Loan till the end of tenure
  • City Union Bank Property Loan EMI calculator helps you to calculate your monthly EMI at different rate of interest and also check lowest EMI per lakh on Loan Against Property
  • 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 interest rate, higher will be the EMI
  • Loan tenure matters equally as higher tenure reduces your EMI
What are the benefits of calculating City Union Loan Against Property EMI?
  • City Union Bank Property Loan EMI calculator helps you to calculate your monthly EMI at different rate of interest
  • City Union Bank EMI calculator for Loan Against Property 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

City Union Loan Against Property Eligibility Calculator

Loan Against Property eligibility criteria City Union Bank
Eligibility of Loan Against Property in City Union Bank relies upon different factors but the most important factor is your ability to repay the loan. The main factors on which the eligibility of an applicant depends are
  • Age: City Union Bank offers loan against property for a maximum tenure of 5 years if the borrower’s age does not exceed above 60 years for salaried and 65 years if you are self employed. Apply for loan at smaller age, higher will be the chances of loan approval
  • Value of the property: City Union Bank decides your loan amount based on the market value of the property which you place as your collateral for the loan. City Union Bank lends less than the market value of the property. As per RBI guidelines, the borrower also has to show some contribution. Ratio of loan amount to value of home is called Loan to Value (LTV) ratio. City Union Bank gives maximum LTV of 50% for property loans depending upon market value of the property
  • Repayment capacity of the borrower: Your eligibility to take loan against property depends upon the maximum EMI that you can pay. City Union Bank checks your past CIBIL history, repayment record of credit cards and existing loans that can impact your loan against property eligibility. If you have any other loan running whose EMI you are paying currently, then you are supposed to close your loan to get higher loan against property eligibility. City Union Bank does not specify any particular CIBIL score for being eligible for a property loan. However, it is observed that a score of 700 and above is desirable
    To reduce your burden of higher EMIs, City Union Bank gives you a maximum tenure of 5 years for a maximum loan amount of Rs.50,000,000 with a minimum spread of % over 6 Month MCLR. Opt for a loan tenure that suits you and higher the loan tenure, higher will be loan amount eligibility
  • Income: Loan against property are mostly taken by the people who are self employed in order to expand their business. However, in order to increase the loan amount you may club the income of family members like your spouse, parents, children and siblings
Estimated eligibility online by using Eligibility Calculator.

City Union Bank Floating Rate Loan Against Property

City Union Bank Loan Against Property Floating
Upto Rs. 3,000,000 - 14.75%
Rs. 3,000,001 - 7,500,000 - 14.75%
Rs. 7,500,001 - 10,000,000 - 14.75%
Above Rs. 10,000,000 - 14.75% linked to 6 Month MCLR

City Union Bank Loan Against Property Top up, Transfer

Transfer of Loan Against Property from another bank to City Union Bank?
City Union Bank offers loan against property balance transfer from another bank. This is subject to your meeting other eligibility criteria of City Union Bank
You can avail additional top-up loan against property from SBI, subject to your eligibility

Loan Against Property City Union documents required

Loan Against Property for Salaried employee City Union Bank documents required

  • 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

Loan Against Property for Self-Employed City Union Bank documents required

  • 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

Property documents for Loan Against Property from City Union Bank

  • Registered Sale Deed/ Conveyance/ Lease Deed
  • Past Sale Deeds Chain (each transaction in respect of this property since first allotment
  • Latest House Tax Return/ Receipt
  • Approved Building Plan from Municipal Corporation
Past trends of MCLR of City Union Bank
08th Feb 17: 0% repo none by RBI
07th Dec 16: 0% repo none by RBI
04th Oct 16: 0.25% repo cut by RBI
05th Apr 16: 0.25% repo cut by RBI
01st Nov 15 10.50% decreased by 0.25%
29th Sep 15: 0.5% repo cut by RBI
01st Sep 15 10.75% decreased by 0.25%
02nd Jun 15: 0.25% repo cut by RBI
04th Mar 15: 0.25% repo cut by RBI
15th Jan 15: 0.25% repo cut by RBI
28th Jan 14: 0.25% repo hike by RBI
18th Dec 13: 0% repo none by RBI
29th Oct 13: 0.25% repo hike by RBI
01st Oct 13 11.00% increased by 0.25%
20th Sep 13: 0.25% repo hike by RBI
03rd May 13: 0.25% repo cut by RBI
19th Mar 13: 0.25% repo cut by RBI
29th Jan 13: 0.25% repo cut by RBI
17th Apr 12: 0.5% repo cut by RBI
01st Dec 11 10.75% increased by 0.25%
25th Oct 11: 0.25% repo hike by RBI
16th Sep 11: 0.25% repo hike by RBI
01st Aug 11 10.50% increased by 0.75%
26th Jul 11: 0.5% repo hike by RBI
16th Jun 11: 0.25% repo hike by RBI
03rd May 11: 0.5% repo hike by RBI
01st May 11 9.75% increased by 0.5%
17th Mar 11: 0.25% repo hike by RBI
25th Jan 11: 0.25% repo hike by RBI
01st Jan 11 9.25% increased by 0.5%
02nd Nov 10: 0.25% repo hike by RBI
01st Nov 10 8.75% increased by 0.25%
16th Sep 10: 0.25% repo hike by RBI
27th Jul 10: 0.25% repo hike by RBI
02nd Jul 10: 0.25% repo hike by RBI
01st Jul 10 8.50%

City Union MCLR Vs. RBI Repo Rate Trend

Frequently Asked Questions

What are the five things to check before applying for loan against property in City Union ?

  • Property on which you intend to take loan is not a vacant land, has an approved map plan and is in municipal area. You must attach the entire chain of title documents of the property and its approved building plan with the loan application.
  • Your existing EMI’s on all loans and credit cards (from City Union Bank and other banks) are no more than 60 - 70% of your net monthly income
  • You have not defaulted on loans or credit card dues to City Union Bank and other banks and all EMI's have been paid. Note that City Union Bank can see record or status of your EMI defaults to all banks and NBFC’s in India and not just to City Union Bank in your CIBIL report. Estimate your CIBIL score for free by using CIBIL score estimate calculator
  • If you are salaried, ensure that you attach your recent salary slips, bank statements and last 3 years' Form 16 with the loan applicantion
  • If you are self employed in your own business or practice, your business must have been in existence for at least three years and last three income tax returns with audited financials must be available

Will City Union mortgage loan interest rate remain fixed or will it change in future?

  • Floating interest rate on City Union Bank property loan is linked to its 6 Month MCLR, which is currently 9.40%. So, when City Union Bank offers a loan against property at 14.75%, it applies a 5.35% premium to its MCLR to arrive at this rate
  • When market interest rates go up, the bank increases its base rate and the applicable rate for all existing loans goes up. When interest rates trend downwards, the bank has to reduce the base rate as it is not allowed to lend below the base rate. Thus, any benefit of lower rates will have to be passed to both old borrowers and new borrowers
  • Base rate benchmarked loans provide a better and more transparent interest rate transmission for the borrower compare to PLR benchmarked loans
  • Current MCLR of City Union Bank, its past trend and comparison with RBI repo rate are given here for your reference

Are prepayment or foreclosure charges applicable on City Union loan against property?

    You can prepay loan against property (LAP) without any penalty or charges in case:
  • Your loan is at a floating rate of interest and not at a fixed rate. Almost all loans against property are at floating rates and it is unlikely that yours is at a fixed rate of interest
  • The loan is in the name of one or more individual borrowers and none of the applicants and co-applicants is a business entity like a company or a firm or partnership or AOP

For loans from Housing Finance Companies, refer to NHB circulars NHB(ND)-DRS-Policy-Circular-63-14-15 dated Aug 14, 2014 and NHB-ND-DRS-Policy-Circular-No-66-2014-15 dated Sep 03, 2014 for more details.

Please contact myloancare at 0124 426 4004 or in case you need any assistance or clarification on this subject.

City Union Bank Loan Against Property in India

City Union Bank Loan Against Property Customer Care Number, Email, Application Status, Branches

City Customer Care Number
Agra 7299075082, callcenter [at] cityunionbank [dot] com
Ahmedabad 7299075082, callcenter [at] cityunionbank [dot] com
Ambala 7299075081, callcenter [at] cityunionbank [dot] com
Anand 7299075082, callcenter [at] cityunionbank [dot] com
Aurangabad 7299075082, callcenter [at] cityunionbank [dot] com
Bangalore 7299075082, callcenter [at] cityunionbank [dot] com
Bhilai 7299075082, callcenter [at] cityunionbank [dot] com
Bhilwara 7299075082, callcenter [at] cityunionbank [dot] com
Bhiwadi 7299075082, callcenter [at] cityunionbank [dot] com
Bhopal 7299075082, callcenter [at] cityunionbank [dot] com
Bhubaneswar Cuttack 7299075082, callcenter [at] cityunionbank [dot] com
Bikaner 7299075082, callcenter [at] cityunionbank [dot] com
Chandigarh 7299075081, callcenter [at] cityunionbank [dot] com
Chennai 7299075082, callcenter [at] cityunionbank [dot] com
Cochin 7299075082, callcenter [at] cityunionbank [dot] com
Coimbatore 7299075082, callcenter [at] cityunionbank [dot] com
Dehradun 7299075082, callcenter [at] cityunionbank [dot] com
Delhi 7299075081, callcenter [at] cityunionbank [dot] com
Durg 7299075082, callcenter [at] cityunionbank [dot] com
Faridabad 7299075082, callcenter [at] cityunionbank [dot] com
Gandhinagar 7299075082, callcenter [at] cityunionbank [dot] com
Ghaziabad 7299075082, callcenter [at] cityunionbank [dot] com
Goa 7299075082, callcenter [at] cityunionbank [dot] com
Greater Noida 7299075081, callcenter [at] cityunionbank [dot] com
Gurgaon 7299075081, callcenter [at] cityunionbank [dot] com
Guwahati 7299075082, callcenter [at] cityunionbank [dot] com
Gwalior 7299075082, callcenter [at] cityunionbank [dot] com
Hyderabad 7299075082, callcenter [at] cityunionbank [dot] com
Indore 7299075082, callcenter [at] cityunionbank [dot] com
Jabalpur 7299075082, callcenter [at] cityunionbank [dot] com
Jaipur 7299075082, callcenter [at] cityunionbank [dot] com
Jalandhar 7299075082, callcenter [at] cityunionbank [dot] com
Jodhpur 7299075082, callcenter [at] cityunionbank [dot] com
Kanpur 7299075082, callcenter [at] cityunionbank [dot] com
Karnal 7299075081, callcenter [at] cityunionbank [dot] com
Kolhapur 7299075082, callcenter [at] cityunionbank [dot] com
Kolkata 7299075082, callcenter [at] cityunionbank [dot] com
Kota 7299075082, callcenter [at] cityunionbank [dot] com
Kozhikode 7299075082, callcenter [at] cityunionbank [dot] com
Lucknow 7299075082, callcenter [at] cityunionbank [dot] com
Ludhiana 7299075082, callcenter [at] cityunionbank [dot] com
Madurai 7299075082, callcenter [at] cityunionbank [dot] com
Meerut 7299075082, callcenter [at] cityunionbank [dot] com
Mehsana 7299075082, callcenter [at] cityunionbank [dot] com
Mohali Sas Nagar 7299075082, callcenter [at] cityunionbank [dot] com
Mumbai 7299075082, callcenter [at] cityunionbank [dot] com
Mussoorie 7299075082, callcenter [at] cityunionbank [dot] com
Nagpur 7299075082, callcenter [at] cityunionbank [dot] com
Nashik 7299075082, callcenter [at] cityunionbank [dot] com
Noida 7299075081, callcenter [at] cityunionbank [dot] com
Noida Extn. 7299075081, callcenter [at] cityunionbank [dot] com
Panipat 7299075082, callcenter [at] cityunionbank [dot] com
Patna 7299075082, callcenter [at] cityunionbank [dot] com
Pondicherry 7299075082, callcenter [at] cityunionbank [dot] com
Pune 7299075082, callcenter [at] cityunionbank [dot] com
Raipur 7299075082, callcenter [at] cityunionbank [dot] com
Rajkot 7299075082, callcenter [at] cityunionbank [dot] com
Ranchi 7299075082, callcenter [at] cityunionbank [dot] com
Rohtak 7299075082, callcenter [at] cityunionbank [dot] com
Roorkee 7299075082, callcenter [at] cityunionbank [dot] com
Salem 7299075082, callcenter [at] cityunionbank [dot] com
Shimla 7299075082, callcenter [at] cityunionbank [dot] com
Sonepat 7299075081, callcenter [at] cityunionbank [dot] com
Surat 7299075082, callcenter [at] cityunionbank [dot] com
Trichy 7299075082, callcenter [at] cityunionbank [dot] com
Udaipur 7299075082, callcenter [at] cityunionbank [dot] com
Vadodara 7299075082, callcenter [at] cityunionbank [dot] com
Varanasi 7299075082, callcenter [at] cityunionbank [dot] com
Vijaywada 7299075082, callcenter [at] cityunionbank [dot] com
Vizag 7299075082, callcenter [at] cityunionbank [dot] com
City Union Loan Against Property News - Mar 2017
29th Mar 17 GST to be levied on rents and EMI on under construction property from 1st July, 2017
Finance Minister has made an announcement that GST will be applicable on leasing of lands, renting of buildings as well on EMIs paid on loans taken for the purchase of under construction property. However, sale proceeds of a housing property has been kept out of GST tax regime. Banking expert at HDFC Bank has pointed told that GST will be applied only on the sale of under construction property as the sale of completed property is not treated as goods and services under GST rules. The new indirect tax regime will be effective from 1st July, 2017.
28th Mar 17 Syndicate Bank evaluates options to recover dues from GVK Power and Infrastructure
Syndicate Bank has failed to evoke response from potential buyers for its proposed auction of land assets of GVK Group for recovering an outstanding loan of Rs. 175 crore. As per sources, the bank is exploring news options and planning to conduct a new auction to realise its dues from the company.
24th Mar 17 Farm loan waiver affects credit discipline
Officer at RBI agreed with SBI’s chief that the farm loan waiver will affect and disturb the credit discipline of the Indian banking industry. As per SBI chief, in lieu of farm loan waiver borrowers are likely to demand more such loan waivers which will eventually increase the number of unpaid loans of the banks. The demand for farm loan waiver came from the various political parties including Maharashtra opposition party, Shiv Sena and Karnataka government.
23rd Mar 17 Note ban to affect NBFC collections in short term
Experts at Moody’s Investors Service have maintained a stable outlook on asset quality of non banking financing corporations (NBFC) including DHFL, HDFC Ltd and PNB Housing Finance during FY18. However, they maintained the cautious outlook on collections of defaulting loan accounts that got adversely affected after demonetization and opined that the loan delinquencies are likely to rise in next two quarters of FY18. As per Moody’s report, NBFCs are likely to face higher asset quality risk in loan against property segment due to slack underwriting practices and intensifying competition.
17th Mar 17 Ahead of merger, loan processing at associate banks may get delayed
State Bank of India is in process of completion of merger with its five associate banks on 1st April, 2017. As per bank sources, loan processing and banking services at associate banks may get disrupted during end of March, 2017. SBI has notified the associate banks to complete disbursements of existing loans across various segments including loan against property, home loan and personal loans by 25th March, 2017.
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