United Mortgage Loan Scheme
Objectives:
Providing loan against mortgage of property to the owner of the
property. The property may be House/ Flat or any other commercial property but not
agricultural land of any other vacant land.
Purpose:
The loan is meant for general purpose of the borrower to meet any
personal/ business requirement except speculations.
Eligibility:
Any individual in the age bracket of 21-65 years having property to be
mortgaged and sufficient income to replay the loan.
Company, Partnership firm, Co-operative Society and Trust are, however, not eligible of
the loan. Third party property also cannot be mortgaged for taking a loan.
Quantum of loan:
Term Loan - Maximum Rs.15.00 Lac & OD facility - Max Rs.25.00 lac subject to
24-times of monthly net income.
50% of the value of property.
Total monthly deduction including proposed EMI / Intt on OD should not exceed 50% of the gross monthly income of the borrower.
Margin:
50.00%
Rate of Interest : Click here to view
Repayment :In case of a Term Loan you will have to repay the loan within a maximum period of 72 months by EMI and in case of OD the limit will be reviewed annually. There is no prepayment penalty
under the Scheme.
Click here for United Mortgage Loan Form
Click here for Agreement Format for
assignment of rent under United Mortgage Loan Scheme
Pdf
format for United Mortgage Loan Form
Pdf format for agreement for assignment of rent
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