City union Bank Home Loan | Interest Rates | Documents | Eligibility

City Union Bank Housing Loan: Get details on Interest rates, EMI, Documents, Eligibility & Other processing charges on home loans online.

Eligibility:

Individuals having an assured source of income viz. salaried employees, self employed professionals, businessmen , farmers etc.,

Home Loan applications received for rupees ₹ 419,027 crores till 05 November 2024

Interest Rates on Home Loans:

• Upto 25 Lacs – 11.00% to 13.00%
• Above 25 Lacs – 13.75% – 14.75%

Documents to be required for City Union Bank Home Loans:

1. In respect of salaried employees, while computing the net income, salary certificate from the employer should be given.
2. In respect of self employed professionals , the income is calculated based on the It return submitted by the borrower.
3. In respect of the farmers/ rural artisans the net income should be calculated based on the details of land holdings and income from allied activities and other sources if any after deducting the amount of crop loans and other loans.

Processing Fees:

Processing Fees at 1% of the loan amount to be charged. And no other hidden charges as charged by other banks

Other Conditions:

1. The bank shall have the first charge by way of mortgage on property including additions/alterations made therein.
2. Disbursement of loan shall be effected only after all documentation formalities completed.
3. Disbursement of loan is to be effected only by account payee pay order/Demand Drafts directly in favour of the seller/ builder/ vendor/ society , etc.,
4. In case of construction of house, loan to be made in stages in accordance with a phased program as under:-
• a) 25% when relative plan is sanctioned
• b) 25% for construction up to the plinth level against production of certificate from the Engineer
• c)25% for construction up to the celling level against production of certificate from the Engineer.
• d) Balance on completion of roof against the Certificate from the Engineer.
5. In respect of ready built house payment may be made in one lump sum
6. The Construction should be completed with in a maximum period of 18 Months of the date on which the first disbursement of the loan in made.