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UNITED MORTGAGE LOAN
Providing Term Loan or OD (for business purpose) against mortgage of House/Flat or any other commercial property to the owner of the property (but not agricultural land or any other vacant land).
Purposes to meet any personal/ business requirement except speculations. OD limit shall be allowed for business purpose only.
Any individual (Salaried or Professional/Self-employed or Pensioner or others) in the age bracket of 21-65 years having property to be mortgaged and sufficient income to repay the loan
Proprietorship / Partnership Firm/ Companies.
Quantum of loan :
Rural Area- Rs. 50.00 Lac
Semi Urban Area- Max.Rs.100.00lakh
Urban: Max.Rs.300.00 lakh
Assessment of Loan :
a) For individuals (salaried/professional/self-employed / business person) :
24 times of net monthly income, net of all deductions i.e. gross income from all sources minus all deductions including income tax but excluding EMI for the proposed loan(average of last three years as per IT Return)
60% of the distress sale value of the mortgaged property offered as security, whichever is less.
b) For Business entities :
In case of Term loan :
4 times of cash accrual(i.e. PAT + Depreciation and other amortization expenses) as per their balance sheet/P&L Account(Average of last 2 years)
60% of the distress sale value of the mortgaged property, whichever is less. OD facility cannot be extended to new business entities which have not completed full fledged operation of one financial year i.e. one audited annual account covering 12 months should be available
In case of OD facility :
25% of the projected turnover(projected turnover should not exceed 125% of actual turnover as per audited annual accounts for the immediate preceding year)
50% of the distress sale value of the mortgaged property (valuation not older than six months), whichever is less
For overdraft: 50 % of the distress value of property
For term loan: 40% of the distress value of property
You have a wide range of choice of deposits through as many as 10 different schemes offered by UBI. You may select them according to your best suited mode of meeting.
BCSBI Code- Customer
List of Auditors
Wilful Defaulter List
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