Union Bank of India Mortgage Scheme

Union Bank of India Mortgage Scheme offers a variety of financial products for the individual customers of various types. These products jointly form the Union Bank of India Mortgage Scheme. The portfolio of the Union Bank of India Mortgage Scheme consists of highly reputed products with tailor made options to meet the need of different customers. The major drive of the Union Bank of India Mortgage Scheme was in the sector of agriculture, where the Union Bank of India has come up with different mortgage loan schemes.

Agricultural loans under Union Bank of India Mortgage Scheme

• Agriculture loans
• Crop loans for commercial crops
• Loan against receipt of warehouses and cold storages
• Union Green Card(UGC)
• Bulk Finance to cold storage units against storage of agricultural commodities
• Scheme for financing unemployed agricultural graduates to develop a profit making farm framework
• Union Mortgage scheme for farmers
• Financing to agriclinic and centers of agro business
• Construction of rural godowns and cold storage
• Reclamation and land development
• Farm mechanization scheme for farmers
• Development of horticulture, plantation, floriculture
• Purchase of two wheelers, four wheeled vehicle, and light commercial vehicles
• Loans for purchase of agricultural land
• Consumption loan
• Allied activities poultry, dairy, sheep, goat, piggery, apiary, etc.
• Union White Card
• Sericulture
• Indirect advance to agriculture
• Bio gas plants

The mortgage market in India is expected to grow rapidly in few years time. The foremost players in this sector are the finance corporation but presently the commercial banks are also started playing an important role in the development and growth of the India Mortgage Market. The market is lead by the HDFC, followed by SBI, ICICI, LIC, etc. The also has a share in the mortgage market in India. Presently the total worth of the mortgage market in India is nearly US $ 18 billion. With all this development the ration between the gross domestic product to mortgage in India is poor when compared to other developed countries. The ratio in India is very low in comparison to The ratio in the foreign countries ranges from 25% to 60% whereas in India the ratio is 2.5%.

The financial products offered under Union Bank of India Mortgage Scheme

• Union Home
• Union Comfort
• Union Trade
• Union Education
• Union Miles
• Union Top-up
• Special Loan Scheme for Education for the students of Indian School of Business, Indian Institute of Management, Indian Institute of Technology and National Institute of Technology
• Union Education Scheme for training course and program for commercial pilots
• Union Cash
• Union Smile
• Union Rent Scheme
• Union Mortgage
• Union Shares
• Union Health

Last Updated on 5/26/2011