FAQs

 
Finance FAQs

1. What is the interest rate of different retail loans

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2. How can I avail Housing Loan from UBI?

• You must be an individual, aged 21 years or above, having regular income not a default borrower of any Bank / Financial Institution.

3. For which purpose can I avail Housing Loan from UBI?

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4. Can I get extra loan 3 years after availment of my Housing Loan?

• Yes. Under United Smart Loan Scheme.

5. What are the interest options in Housing loan?

• Floating Rate & Fixed Rate

6. Whether can I get interest concession if coverage is taken

•  i) A concession of 0.25% for united salary payment a/c holder
   ii) A concession of 0.25% cover by liquid security

7. Can I get loan against my land & building?

• Yes. Under United Mortgage Loan against mortgage of property of the owner. The property may be a House / Flat / or any commercial property but not agricultural land or vacant land

8. How can I avail loan against paper security?

• For meeting all types of expenses/ requirement, any individual having investment in the form of LIC (surrender value) NSC / KVP may avail loan by assignment of the same in Bank's favour under Demand Loan.

9. What is the maximum amount of loan available for a new Car?

• Rs. 12 lac subject to 90% of the on road price.

10. Does UBI give loan for purchase of old Car?

• Yes. Rs.6 lac subject to 70% of the valuation amount.

11. What security I need to provide for Car Loan?

• Primary :- Hypothecation of the vehicle to be purchased out of Bank loan

• Additional :- For Salaried Persons - Nil; if employer ensures repayment either by remitting salary to the bank or EMI is realized from the salary of the employee and remitted to the Bank and attachment of terminal benefits. Else Personal Guarantee of 1 or 2 persons having adequate worth to cover the loan amount

• Professional & Self- Employed - Personal Guarantee of 1 or 2 persons having adequate worth to cover the loan amount.

12. How does UBI fix my Education Loan?

• Financial assistance is provided to meritorious and needy students for pursuing higher / professional / technical education.

13. Who will be co-borrower in Education Loan?

• Parent will be co-borrower.

14. For pursuing which course, I can get Educational Loan?

• Courses conducted by reputed Indian / Foreign institutions in Graduation / Post Graduation / Professional etc.

15. What is the rate of interest of Educational Loan and can I get interest concession for serving interest during the study period?

• Upto 4.00 lac: BPLR - 0.75%

• Above 4.00 lac: BPLR - 0.25%

  1.00% interest concession is allowed if interest is serviced during study period.

16. Which loan facility can I get on maintaining Salary payment A/c with UBI?

• Overdraft Facility. Eqals to 2 months net salary

17. What is the extra benefit available for Salary Payment A/c-holder?

• Zero balance facility.

• Free ATM-cum-Debit Card.

• Accidental Insurance Coverage of Rs. 1.25 lac.

• Two cheque books of 20 leaves Free in a calendar year.;

• 0.25% commision in all Retail Loan Scheme.

18. Under Shikshak Samman Scheme what benefits are extended to Teachers?

• Finance under United Housing Loan Scheme, United Personal Loan Scheme, United Consumer Loan Scheme, United Car Loan Scheme and United Festival Loan Scheme with relaxations in Processing charges, Margin, Rate of Interest, Repayment and quantum of loan is extended.