My Place

Eligibility

Individual, aged 21 years or above, having Regular Income who is not a defaulter borrower of any Bank/ Financial Institution.

Purposes

1. Construction of house/ flat

2. Purchase of new/old (not more than 35 years) house/ flat

3. Renovation/ extension/ repair of house

4. Purchase of land for construction of house thereon

5. Take over of housing loan availed from other banks/ FIs.

Individual and With wife as co-borrower : Rs.100.00 lac

Enhancement of loan up to 10% is permissible for furnishing.
   

Margin

1. Where finance is for purchase/ construction or renovation/ extension/ repair/ furnishing of House/ Flat,

   1. In case of individual : Min. 15% of Project Cost.

   2. If spouse joins as a co-borrower : Min. 10% of Project Cost.

    

2. Where finance is for purchase of land or purchase of old house/ flat : 20% in all cases.

Additional Security

For P & SE and for salaried persons where employer does not ensure repayment: 10% to 20% of the loan amount by way of Bank’s own Term Deposit,

Click here for United Housing Loan Scheme

Any Individual with minimum net income (take home for salaried persons) of Rs.5,000/- p.m.

For P & SE: They should be in the profession/ business for at least 2 years.

The prospective borrower should be a Savings/ Current/ Term Deposit a/c holder of the Branch.

Rs.0.10 lac to Rs.4.00 lac subject to a maximum 36 times of monthly net income excluding the instalment of the proposed loan. The total deduction including the proposed EMI should not be more than 60% of Gross income.

10 to 20% of the cost of the article.

For P & SE: Full amount is to be secured by way of liquid security or by 3rd party guarantee backed by tangible security.

Click here for United consumer loan scheme

Purchase of new as well as old car not over 4 years old (valuation to be made by an Automobile Engineer)

Any Individual with minimum net income (take home for salaried persons) of Rs.5,000/- p.m.

P & SE: They should be in the profession/business for at least 2 years.

The prospective borrower should be Savings / Current / Term Deposit Account holder of the Branch.

Max. Rs. 12 lac in case of new car and Rs. 6.00 lac in case of old car subject to 90% of the on road price (irrespective of wife as Co-borrower or not) or 36 times of monthly net income excluding the instalment of the proposed loan, whichever is less. The total deduction from salary including the proposed EMI should not be more than 60% of Gross Salary.

10% of the cost of the car (on road price) in case of new car.

30% of the valuation amount in case of old car

In case of Professional & Self-Employed Persons including professionals engaged in public service like Doctor (Regd. Medical Practitioner) – the loan should be additionally secured by personal guarantee of 1 or 2 persons having adequate worth to cover the loan amount being guaranteed.

Click here for United Car loan scheme