City Union Bank Home Loan Interest Rate

City Union Bank Limited is an Indian private sector bank. Its headquarters are in Kumbakonam. City Union Bank Limited was established in 1904. It contains 733 locations.

It offers its customers all financial services such as saving deposits, fixed deposits, recurring deposits, home loans, personal loans, car loans, education loans, gold loans, PPF accounts, lockers, net banking, mobile banking, RTGS, NEFT, IMPS, E-Wallet, Atal Pension Yojana, Pradhan Mantri Jandhan Yojana, Pradhan Mantri Suraksha Yojana, Pradhan Mantri Suraksha Yojana, Pradhan Man Bima Yojana, Pradhan Mantri Jeevan Jyoti Bima Yojana, and numerous other schemes.

City Union Bank Home Loan

City Union Bank (CUB) is a major Indian banking organization that has been servicing the Indian populace for over a century. Their goods and services are designed to provide basic financial services to a diverse variety of customers.

Their CUB, Swayam Gruha Home Financing plan, is designed for customers who want a simple loan transaction. They provide rapid response with minimum documentation. They also have several customer service channels to help you with the complete house loan procedure.

Characteristics of the City Union Bank Home Loan

Before you apply for a City Union bank home loan, you should be aware of some of the interesting features listed below.

  • The loan money can be used for a variety of purposes. Some of them include the acquisition of a building site, the purchase of a ready-to-move house or flat, the repair or renovation of an existing house or flat, the purchase of a flat under development, or the transfer of an existing lending facility from another bank.
  • The maximum tenure for purposes such as house buying and building is 15 years or 180 months. For any other purpose, you can borrow the money for a longer period of time, up to 15 years.
  • You could borrow up to INR 1 crore or 75% of the property value for any of the above-mentioned uses.

Who is Eligible for the City Union Bank Home Loan?

  • This lending program is open to salaried and self-employed persons, as well as professionals and business owners.
  • For professionals, self-employed individuals, and business owners, the acceptable loan amount is five times their most recent disclosed income tax return (ITR).
  • Any paid employee can borrow up to 60 months of their net take-home earnings.

Documents Required to Apply for the City Union Bank Home Loan

When you apply for a loan, you must provide a set of documentation. Learn more about them down below-

  • A finished and signed application form with a photo.
  • Identity proof includes a government-issued Aadhar card, PAN card, passport, driving license, voter id card, and ID card.
  • Aadhar Card, Passport, Driving License, Voter ID Card, Electricity/Telephone/Post-Paid Mobile Bill, and Bank Statement are all acceptable forms of address proof.
  • Passport, PAN card, Birth Certificate, Driving License, Voter ID card, Employee ID card (only for PSU/ Government employees), and School/College leaving certificate are all acceptable forms of proof of age.
  • Form 16.
  • Salary slips or certificates from the previous six months for salaried individuals.
  • Bank statement over the previous six months
  • Income Tax Returns (ITR) for the previous three years
  • CA during the last three years' Balance Sheet and Profit & Loss Account that has been certified or audited.
  • The cheque for processing charge.
  • Copies of the property's title documents and the authorized plan.
  • Cost estimate from the architect in the case of construction/renovation.

City Union Bank Home Loan Interest Rate 2022

Here are the City Union Bank home loan interest rates-

1) City Union Bank Home Loan Rate of Interest for Cub Swayam Graha Scheme Below Rs. 25 Lakhs

Tenure

City Union Bank Home Loan Interest Rate

5 Years

10.50%

More than 5 Years

11%

More than 10 Years

11.50%

More than 15 Years

12.50%

2) City Union Bank Housing Loan Interest Rate Other Than Swayam Graha Scheme

Tenure

Interest Rate

5 Years

11%

More than 5 Years

11.25%

More than 10 Years

12%

More than 15 Years

13%

Purposes of the Loan

  • Purchase a building lot for a house.
  • Purchase of a prefabricated housing flat
  • Existing house/flat modification
  • Purchase of a newly built apartment.

Online Application Process for the Home Loan from City Union Bank

You can visit the bank physically to apply for the home loan offline, but there is also a way to do it from the comfort of your home, and that is the online method. The step-by-step process for the online method is mentioned below:

Step 1: You will have to visit the official portal of the bank.

Step 2: Navigate to the section of loans, and choose for home loans.

Step 3: Select the option - apply for home loan and a preferred scheme as given.

Step 4: Once this has been completed you can fill in all of the required details and attach the needed documents.

Step 5: Now, click on submit and the procedure has been completed.

Once you have applied, the bank will contact you on your application.

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