United Bank of India Home Loan

About United Bank of India Home Loan

Being an Indian-Government owned financial services company headquartered in Kolkata, there is no denying the fact that United Bank of India with its best of financial products and services is here to revolutionized the way people look at the banking sector. Yes, with its vision to transform the Indian banking industry along with a mission to deliver the quality services to all its esteemed customers around the world, it would not be wrong to say that this bank is here to offer you an enriching experience. This is the reason that since its inception in the year 1950, there is no looking back for this reputed bank as it has been delivering the best of user-experience and services to one and all.

Home Loan

Eligibility & Quotes from top PSU & Pvt. Banks | Lowest Interest Rates | Comfortable Tenure

    Almost done, few more details required.

    If we talk about its wide range of products, this reputed bank is into offering a lot of products, best known for catering the diverse needs of all. But, if we talk about home loan, this product fulfills the needs of those who need financial help to turn their dream home wish into reality. With attractive interest rates, flexible tenures, easy documentation, fastest approvals and minimal fee and charges, availing this credit facility is much easier. This is the reason that people are showing their keen interest to avail the home loan from United Bank of India. Well, if you are interested to know more about this credit facility being offered by this renowned bank, you just need to read this page further.

    United Bank of India Home Loan Interest Rates

    ParticularsDetails
    Interest Rates8.50%
    Loan AmountUp to ₹75 Lakh
    Tenure30 Years
    Prepayment ChargesNil

    United Bank of India Home Loan Eligibility Criteria

    In order to know the eligibility of the bank so as to availing the home loan, you just need to read the page further.

    • The age of an individual must be above 21 years.
    • He/she should have a regular source of income.
    • Salaried individuals, salaried-professionals and self-employed individuals can apply for the same.
    • Salaried persons should be in regular and permanent service.
    • Self-employed & business persons and professionals should have atleast 2 years of business stability.
    • Business and self-employed professionals should have 2 years of ITR.

    United Bank of India Home Loan EMI Calculator

    With an EMI Calculator knowing your monthly installments, interest outgo and total amount payable is easier as this smart device does all the work for you. It lets you know the exact calculations of your monthly installments in the most hassle-free manner. This tool functions in such a manner that you will get the results in the least time frame.

    Yes, all you need to do is just feed few credentials such as:

    • Loan Amount
    • Interest Rate
    • Tenure

    By feeding these credentials into the device, within fraction of a second it will display the results in front of your screen. With exact figures and calculations in front of your screen, you can easily know what would be your EMIs, interest and total amount payable on home loan. Let’s just have more clarity on the same by looking at an example below.

    Suppose, Anjali Gupta, a 32 year-old, Senior Marketing Officer is looking to avail a home loan of ₹30 Lakh. The best thing is that the bank has agreed to offer her the same loan amount at an interest rate of 8.75% per annum for a tenure of 10 years. So, let’s just see what would be the EMIs, interest and total amount payable on her overall loan journey.

    Take a look at the table below to know the outcome of the same.

    Table Showing EMI, Interest Outgo, and Total Repayment Amount

    Loan AmountInterest RateTenureMonthly InstalmentTotal Interest AmountTotal Amount
    ₹ 30,00,0008.75%1₹ 2,62,007₹ 1,44,081₹ 31,44,081
    ₹ 30,00,0008.75%2₹ 1,36,710₹ 2,81,049₹ 32,81,049
    ₹ 30,00,0008.75%3₹ 95,051₹ 4,21,819₹ 34,21,819
    ₹ 30,00,0008.75%4₹ 74,300₹ 5,66,376₹ 35,66,376
    ₹ 30,00,0008.75%5₹ 61,912₹ 7,14,702₹ 37,14,702
    ₹ 30,00,0008.75%6₹ 53,705₹ 8,66,769₹ 38,66,769
    ₹ 30,00,0008.75%7₹ 47,887₹ 10,22,548₹ 40,22,548
    ₹ 30,00,0008.75%8₹ 43,563₹ 11,82,002₹ 41,82,002
    ₹ 30,00,0008.75%9₹ 40,232₹ 13,45,089₹ 43,45,089
    ₹ 30,00,0008.75%10₹ 37,598₹ 15,11,763₹ 45,11,763

    EMI, Total Interest Outgo, Total Repayment (Interest + Principal)

    YearPrincipalInterestBalance Amount
    1₹ 1,96,429₹ 2,54,746₹ 28,03,570
    2₹ 2,14,323₹ 2,36,852₹ 25,89,246
    3₹ 2,33,847₹ 2,17,328₹ 23,55,398
    4₹ 2,55,150₹ 1,96,026₹ 21,00,247
    5₹ 2,78,393₹ 1,72,783₹ 18,21,854
    6₹ 3,03,754₹ 1,47,422₹ 15,18,099
    7₹ 3,31,424₹ 1,19,751₹ 11,86,674
    8₹ 3,61,616₹ 89,560₹ 8,25,058
    9₹ 3,94,558₹ 56,618₹ 4,30,500
    10₹ 4,30,772₹ 20,676₹ 0

    Documentation Checklist to Apply

    ProofsSalariedSelf-employed
    Identity ProofAadhar Card/ Passport /Pan Card/ Voter ID Card /Driving LicenseAadhar Card/ Passport /Pan Card/ Voter ID Card /Driving License
    Address ProofPassport/Aadhar Card /Utility BillPassport/Aadhar Card /Utility Bill
    Residence Ownership ProofProperty Documents/Maintenance Bill/Electricity BillProperty Documents/Maintenance Bill/Electricity Bill
    Income ProofLatest 3 months Salary Slips and Form 16Latest 3 years Income Tax Returns including Computation of Income, Profit and Loss Account, Balance Sheet, Audit Report, etc.,
    Business Existence ProofNA2 years old Saral Copy /Shop Establishment Act /Any Tax Registration Copy /Company Registration license
    Job Continuity ProofCurrent Employment Certificate /Current Job Appointment letter (if it is more than 2 years) /Experience Certificate (including your previous job certificate or appointment and relieving letter)NA
    Bank StatementLatest 1 year statement where your salary is getting creditedLatest 1 year bank statement both current and savings

    Features & Benefits

    • Easy Documentation
    • Fast Processing
    • Flexible Repayment Options
    • Hassle-free & Transparent Process
    • Quick Approval
    • Doorstep Service
    • Attractive Interest Rates

     

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    EMI Calculator