Top Banks 2024
United Bank of India Indore
Last Updated : Feb. 10, 2017, 6:42 p.m.
About United Bank of India
United Bank of India has always been a bank on which the customer can always rely on. The bank which is based in the historic city of Kolkata was nationalised on the date, July 19, 1969. It was incorporated when four banks of the pre-independence era were merged with each other to form United Bank of India Limited in the year of 1950. After nationalisation, the bank has been on a mission to provide financial assistance to every corner of the country. It wishes to have a Pan-India presence and has plans to even expand its wings to international territories. It has three overseas branches in Mumbai, Kolkata and New Delhi. It has ensured that all its 1999 branches are located in areas where the requirement is the most. The bank has a setup consisting of three tiers. The tiers include the main head office, the branches and the offices.
United Bank of India has believed in keeping the customer under focus and hence undertaken quite a few initiatives during the demonetisation phase. It introduced the concept of Mobile ATMs in the rural areas so that the people don’t face any kind of trouble. This has reaped rewards for the bank as many people have deposited their money in their loan account. Indore is one of the proposed smart cities in the country and United Bank of India too is contributing its bit by offering a lending support. The bank has two branches in the city.
Address of United Bank of India Indore branches
| Branch | Address | IFSC | MICR | Contact details |
|---|---|---|---|---|
| Jail Road | 19, Sunder Plaza, 1St Floor, Street No - 1, Jail Road, Indore - 452007, Madhya Pradesh | UTBI0IND630 | 700027079 | 255034 |
| Khatiwala Tank | 223, Saifee Nagar Main Road, Khatiwala Tank, Transport Nagar, Indore, Madhya Pradesh 452001 | UTBI0KHT665 | 452027003 | 250095 |
Products offered by United Bank of India
The needs may be different but the solution is one. United Bank of India is the one stop destination for all your needs. People in the beautiful city of Indore can obtain finance from the bank for their vehicle, housing, personal, business or educational needs. They can even mortgage their property and secure a loan. Check out the eligibility norms and documentation work in the two tables below-
Basic details of United Bank of India loans in Indore
| Product | Eligibility | Loan amount | Interest rate | Processing fee | Tenure |
|---|---|---|---|---|---|
| Home loan | Applicants should be above the age of 21 and should have a regular source of income. 70 is the age when the loan needs to be fully repaid. Salaried employee need to be in permanent and regular service. Professional and self-employed individuals should be employed in their current trade or profession for a minimum of two years. Self-employed and businesses need to have at Income Tax returns of at least two years. | Metro- Up to ₹ 3 crores Urban- Up to ₹ 75 Lakhs Semi-urban- up to ₹ 45 Lakhs Rural- up to ₹ 25 Lakhs | 8.60% - 9.95% | NIL | 30 years |
| Personal loan | You need to be a salaried individual with a regular income and permanent service. You need to employed with the current company for at least two years | Up to ₹ 2 lakhs or 10 months gross salary | 11.40% - 16.95% | 1% of the loan amount availed | 36 months i.e. 3 years |
| Car loan | For salaried individual: The applicant should take home a minimum of Rs 25,000 after meeting all monthly commitments. This also includes the proposed EMI. For salaried individuals having pensionary income, the repayment age can be extended till 70 years. For self-employed professional and businessman: The maximum age can be 65 years although the loan needs to be fully repaid by the time the applicant completes 70 years. | Up to ₹ 30 Lakhs | 6.50% Onwards | 0.50% of the loan amount sanctioned. It can be a minimum of Rs. 500 and a maximum of Rs. 10,000 | Up to 84 months i.e. 7 years for a new car Up to 60 months i.e. 5 years for an old car |
| Fixed deposits | People who can open a fixed deposit with the bank- An individual Hindu United Family Associations/Clubs Joint Stock companies Firms Sole Proprietary concerns Guardians for minor children | 2.90% - 5.75% | NIL | 15 days to 120 months i.e. 10 years | |
| United Mortgage loan (Loan against property) | Anybody, whether a self-employed professional or a pensioner or a salaried individual can apply for a loan. The applicant should fall in the age bracket of 21 to 65 years. The applicant should have a property which he/she can mortgage. He/she must earn sufficient enough to repay the loan. Proprietors, partnership firms and companies can apply too. | Metro- ₹ 5 crores Urban- ₹ 3 crores Semi-urban- ₹ 1 crore Rural- ₹ 50 Lakhs | 10.70% | 1% of the sanctioned amount plus service taxes if applicable | 7 years |
| United Trade credit (Business loan) | Existing trader/service provider/business person can apply for a loan. You need to earn profit for at least two years. People engaged in business/service/trade with any other activity like manufacturing, construction, exports, agriculture, etc can also apply | Maximum- ₹ 50 Lakhs | 13.35% | 60 months i.e. 5 years | |
| Education loan | The applicant should be an Indian national who wants to pursue admission to any professional or technical course in India or abroad through merit or entrance test | For studying in India- ₹ 10 Lakhs For studying in abroad- ₹ 20 Lakhs | Up to ₹ 7.5 Lakhs- 11% Above ₹ 7.5 Lakhs- 10.95% | 15 years | |
| Gold Loan | Individuals, Proprietorship / Partnership firms, Joint Borrowers with KYC compliance can apply The applicant should have one SB/CD account with the Bank. Professional who are engaged in gold trading can’t apply for a gold loan. The applicant should have attained a minimum age of 21 years. The maximum age goes up to 70 years i.e. 70 is the age when the loan matures The applicant must earn a steady flow of income | Minimum amount- ₹ 25,000 Maximum amount- ₹ 10 Lakhs | Term Loan- 9.85% Overdraft- 9.85% | NIL | Term Loan- 12 months Overdraft- 12 months |
Documents required
The documents needed for availing a loan from United Bank of India Indore have been mentioned below-
| Product | Documents |
|---|---|
| Home loan | Photographs of passport size of the applicant Completely filled application form Proof Of Identity- Aadhar card/Passport/PAN Card/Voter ID Card/Driving License Proof of Residence-Aadhar Card/Passport/Voter ID Card/Lease agreement/Telephone bill/Ration card/Electricity bill Proof of Age- Birth Certificate/ SSLC or AISSE Certificate/Passport/Driving License Proof of Income- Salaried individuals: Salary slip of three months /Latest salary certificate, IT returns of the past two years or Form 16 Bank statement of the past six months. Self-employed- Bank account statements of the past 12 months proof of existence of business and its profile Income Tax returns of the previous two years along with Balance Sheet/ Profit & Loss account Property documents- Agreement for Sale & construction, Letter of Allotment, Tripartite Agreement which has to be given before disbursal of loan, Certificate of possession, Detailed cost of construction and Land tax receipt. |
| Personal loan | Completely filled and duly signed application form Proof Of Identity- Aadhar card/Passport/PAN Card/Voter ID Card/Driving License Proof of Residence-Aadhar Card/Passport/Voter ID Card/Lease agreement/Telephone bill/Ration card/Electricity bill A copy of PAN card is mandatory Applicant’s latest photo of passport size ( two copies) Income Documents- Salary slip of three months /Latest salary certificate, IT returns of the past two years or Form 16 and bank statement of the past six months |
| Car loan | Completely filled application form Proof Of Identity- Aadhar card/Passport/PAN Card/Voter ID Card/Driving License Proof of Residence-Aadhar Card/Passport/Voter ID Card/Lease agreement/Telephone bill/Ration card/Electricity bill Proof of Age- Birth Certificate/ SSLC or AISSE Certificate/Passport/Driving License Proof of Income- Salaried individuals: Salary slip of three months /Latest salary certificate, IT returns of the past two years or Form 16 Bank statement of the past six months. Self-employed- Bank account statements of the past 12 months proof of existence of business and its profile Income Tax returns of the previous two years along with Balance Sheet/ Profit & Loss account |
| Fixed deposit | A coloured photograph Passport/ Driving License Last six months bank account details Documents required from the trust, association/ clubs Photographs of the member operating the account. A Copy of the Trust Deed/ Bye- laws of the association. A Copy of registration certificate. A Copy of the resolution of trustee authorizing the member to operate and open the accounts |
| Loan against property | Completely filled application form Proof Of Identity- Aadhar card/Passport/PAN Card/Voter ID Card/Driving License Proof of Residence-Aadhar Card/Passport/Voter ID Card/Lease agreement/Telephone bill/Ration card/Electricity bill Proof of Age- Birth Certificate/ SSLC or AISSE Certificate/Passport/Driving License Proof of Income- Salaried individuals: Salary slip of three months /Latest salary certificate, IT returns of the past two years or Form 16 Bank statement of the past six months. Self-employed- Bank account statements of the past 12 months proof of existence of business and its profile Income Tax returns of the previous two years along with Balance Sheet/ Profit & Loss account Property documents- Agreement for Sale & construction, Letter of Allotment, Tripartite Agreement which has to be given before disbursal of loan, Certificate of possession, Detailed cost of construction and Land tax receipt. |
| Business loan | Proof Of Identity- Aadhar card/PAN Card/Passport/Driving License/Voter ID Card Proof of Residence- Voter ID Card/Aadhar Card/Passport/Lease agreement/Ration card/Telephone bill/Electricity bill Bank statement of the last six months Proof of continuation -ITR /Establishment / Trade license/Sales Tax certificate Income Tax returns of the previous two years along with audited Balance Sheet and Profit & Loss account if applicable |
| Education loan | Proof Of Identity- Aadhar card/PAN Card/Passport/Driving License/Voter ID Card Proof of Residence- Voter ID Card/Aadhar Card/Passport/Lease agreement/Ration card/Telephone bill/Electricity bill Admission letter/Offer letter Fee structure proof Basic Qualification and mark-list |
| Gold loan | Proof Of Identity- Aadhar card/PAN Card/Passport/Driving License/Voter ID Card Recent photograph of passport size Proof of Residence- Voter ID Card/Aadhar Card/Passport/Lease agreement/Ration card/Telephone bill/Electricity bill/Trade license/Sales tax certificate |