House Loan

UCB offers you convenient and cheap loans for your dream homes –we can extend you assistance for constructing your house or even for expansion or improvement of your existing home or even for purchase of flat or constructed house.

Who can borrow?
Permanent salaried employees/self employed person in business or Profession are eligible, provided that they have regular income enough to meet the repayment obligation.

What is the maximum limit of assistance?
Up to 75% of the estimated cost of the house property and 60% towards the cost of land subject to maximum of Rs.10 Lacs.

Where to approach ?
You may contact any of our 12 branches, spread all over in Jaipur and Kishangarh or the Head Office of our bank.
Security:
Equitable mortgage of legally acceptable title document of non-encumbered residential house/flat in the name of borrower which is either self occupied or vacant.

What documents are required?
Duly filled specified application from along with requisite documents.
A) For salaried employees :
• Salary certificate/Income Tax Return
• Verification of employment from employer.
• If job is transferable, permanent address for corres-pondence.
B) For Self employed persons :
• Evidence of income
• Copy of bank accounts if not an account holder of the bank.
• Income-tax return of last 2 years alongwith PAN No.
• Residence proof

Rate of Interest:
Interest Rate is charged as per the prevailing rates from time to time.
Interest is charged at monthly rest and interests are calculated on reducing balance.
Repayment period :
Repayment of Installments is fixed keeping in view repaying capacity/comfort of the applicant subject to maximum of 15 years through PDCs.
Processing Fees & Charges:
• 0.01% of the amount of loan applied shall be charged as the processing fees at the time of application of loan. (for loan up to 50000 Rs.100, 50000 to 1.00 lac Rs. 250 and 1.00 lac to 5.00 lac Rs. 500 shall be charged).
• On the sanction of loan 2.5% of amount sanctioned shall be contributed as share money.
• Fees and charges shall be one-time & non-refundable
• Legal and other charges, if any , are to be born by the borrower.
Personal Guarantee:
Third party personal guarantee of two persons having good credentials and adequate net worth.
Income Tax benefits :
•Interest on loan for construction of new house, the amount of deduction for interest can be claimed upto Rs. 150000/- every year subject to the acquisition or construction should be completed within 3 years from the end of financial year in which the capital was borrowed.
•A rebate of tax on the amount of payment made towards the coast of purchase/ construction of a new residential house property up to Rs. 20000/- In a year is allowable under Sec.88 of the I.T.Act.
Others :
Other general terms and conditions of the bank including insurance coverage of the property shall also be made applicable.