- Eligibility Factors
- Documents Required
- Loan Verification Process
- Rate of Interest
- For Salaried: 21 - 60 years
For Self-employed: 21 - 65 years
- Credit Score
- 650 or more.
- Employment type
- 1. Salaried
- 2. Self-employed
- Minimum net income (monthly)
- Rs. 25,000
- Work experience
- Salaried class: Minimum of 2 years as a salaried employee,
with at least one year in the current organization.
- Business class: Minimum 2 years of business stability.
All the applicants are required to submit the below-listed documents with United Bank of India:
- Filled up United Bank of India loan against property application form
- Recent Photographs
- ITR of previous 2 years
- Proof of Identity
- Proof of Residency
- Proof of Signature Authenticity
Self-employed candidates are required to submit the documents listed below along with the ones mentioned above:
- Proof of business establishment
- Address proof of Business
- Income Tax Returns
- Proof of Business continuity of the past 3 years
- Copy of bank statement of the past 180 days
- Proof of earnings of the last 6 months
Salaried applicants are required to submit a copy of the following documents besides along with the ones mentioned above:
- Last 6 months of bank statement showing your income or salary details
- Copy of salary slip of the past 6 months
- Latest Form 16 or appointment letter, maximum 2 years old
- Copy of all relevant documents showing ownership of property that is to be mortgage
- Proof of any ongoing EMI payments
- Proof of work experience
KYC Documents (for all borrowers)
- Driving License
- Aadhar Card
- Valid Passport
- PAN Card
- Voter ID
- Passport size photo
Property documents (for all borrowers)
- For a property still under construction: Payment Schedule, Allotment letter, and Proof of booking amount paid.
- For a ready Property – Property Sale Deed, Latest property tax paid certificate, Parent Documents, Khatha (7/11 extract) and Latest EC.
- Plot & Self-construction – Parent Documents, Property Sale Deed, Khatha (7/11 extract) and Latest EC.
The loan verification process involves the following steps:
- Fill in the application form and submit it along with the other necessary documents. It can be quickly done by signing up on Apnapaisa.com.
- You will receive a call from one of our representatives within 24 hours to schedule a pickup of the documents in case you opt for offline submission.
- The concerned department representatives at United Bank of India will verify the documents. They may visit the property if necessary.
- After the completion of the verification process and approval of the loan, the lender will call you with the loan offer and ask for your consent for disbursal.
- Once you have accepted the loan offer, the amount gets credited to your account within 48 hours.
- You will get a copy of the duly signed loan agreement containing details of loan interest, tenure, loan amount, charges, and penalties.
United Bank of India offers a floating rate of interest on loans, starting from 10.75% onwards.