United Smart Loan Scheme
United Bank of India presents a "Smart Loan" Scheme for "Smart Borrowers
of United Housing Loan Borrowers. The scheme facilitates additional finance to the
existing Housing Loan customers of the bank for any purpose at easier terms and
conditions. You need not provide any other security for the loan. The salient features of
the scheme are given below :-
Eligibility :
Existing Housing Loan borrowers having completed minimum 2 (two) years of repayment
schedule.
Purpose :
Any personal purpose except speculation.
Quantum of Loan :
Minimum : Rs. 20,000/-
Maximum : To the extent of 75% of the principal amount of Housing Loan
repaid during the period. Subject to maximum of Rs. 1.00 lac
Security : You need not arrange any additional security, but extension
of mortgage on the House property for which United Housing Loan was sanctioned will serve
the purpose.
Margin : Nil.
Interest Rate : (w.e.f. 09.04.2007)
13.75% p.a. i.e. BPLR + 0.50% (Floating rate).
Processing Fee :
2% of the sanctioned amount subject to a minimum of Rs. 500/-
Repayment Period :
Term Loan or overdraft facility my be sanctioned even after liquidation of Housing Loan
and till mortgage of house property is in force. However, term loan shall be repaid within
5 years from the date of sanction and OD Facility will be reviewed every year.
Prepayment Charges : Nil, however, if loan is taken over by other
Banks/ FIs, a prepayment charge @ 2% shall be levied.
Click here for United Smart Loan Form
Click here for Term Loan Application Format
under United Smart Loan Scheme
Pdf
format for Term Loan Application Format
Pdf Format
for United Smart Loan Scheme
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