CUB Home Loan / Housing Loan

Build, buy or renovate – make your dream home a reality with City Union Bank’s housing Loan at attractive interest rates.

What is Housing Loan?

Own your Dream Home with Ease!

Buying your dream home or constructing a new one has never been easier. Our Home Loans offer flexible repayment options, attractive interest rates, and hassle-free documentation process.
Whether a new home or construction / renovation of your home, we are here to help your dream come true.

Why Us?

• Attractive Interest Rates
• Hassle-free Documentation
• Quick Processing

Purpose of Housing Loan

• Purchase of a new house/ flat/ villa/ apartment.
• Purchase of house site for construction (non – agricultural land) and construction of residential unit.
• Completion of under construction residential unit.
• Repairs/ improvements/ extension of the existing housing loan property.
• Purchase of old residential house/ flat/ apartment.
• Takeover of Existing Housing Loan.
• Builder Tie – Ups (Approved Projects).

Eligibility

Salaried

• Age: Min age at the time of loan origination – 21 years; Max. Age at the time of loan maturity – 60 years or retirement age whichever is less
• Income Criteria: Net take home pay – Minimum Rs. 20000/- per month.

Self-employed!

• Age: Min age at the time of loan origination – 23 years Max. Age at the time of loan maturity – 65 years. If the next generation on loan structure, then it is 70 years.
• Income Criteria: Combined cash profit of Minimum Rs.2.40 lakhs per annum.
• Cash profit – Profit after tax + interest payments + Depreciation + Partners salary / interest payment (in case of partnership) / Promoter Director’s salary in case of private limited company

Prepayment penalty

• Floating rates: There is no prepayment charges (or) takeover penalty levied if the loan is taken over by other Banks
• Fixed rate loans: There is no prepayment penalty if loan is repaid from established (own) sources.

*Terms and Conditions Apply

**The loan will be disbursed only on the following conditions:

• All the security documents prescribed have been executed by the borrower/ co-applicant (if any)
• A valid mortgage (Equitable Mortgage) has been created in favour of the Bank as per applicable laws of State.
• The loan will be disbursed in stage wise manner depending on progress of construction.
• All necessary statutory compliances and proofs are in place.

Housing Loan-Product Feature