United Bank of India Mortgage Scheme
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United Bank of India Mortgage Scheme is one of the most important part of the financial portfolio of the United Bank of India. The United Bank of India was set up in the year 1950, and since then the bank has catered to different types of customers with different requirements. The United Bank of India Mortgage Scheme is highly reputed and the bank provides the customers with a variety of financial products. 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 United Bank of India Mortgage Scheme 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 main purpose of the United Bank of India Mortgage scheme is to provide mortgage loans for purchase, expansion, construction, repairs, and renovations of flats, apartments, residential complexes, purchase of land for the purpose of construction. The Canara Bank Mortgage service also provides the facility to take over of liability of the customers pertaining to other housing boards, housing finance companies, co-operative societies, co-operative banks, and commercial banks.
Any individual who are professionals, employees, self-employed, individual person, can take out a United Bank of India Mortgage Scheme loan. Others people who are income tax assessee and people who are salaried individuals and people who are self employed individuals. The salaried class can get a maximum of 48 times gross monthly income and others can get a maximum of the net annual income of three years. The type of loans given is current account overdraft or term loan. The contribution of the customer ranges from 15% to 20% of the total loan amount depending on the loan.
Last Updated on 5/26/2011
The main purpose of the United Bank of India Mortgage scheme is to provide mortgage loans for purchase, expansion, construction, repairs, and renovations of flats, apartments, residential complexes, purchase of land for the purpose of construction. The Canara Bank Mortgage service also provides the facility to take over of liability of the customers pertaining to other housing boards, housing finance companies, co-operative societies, co-operative banks, and commercial banks.
Any individual who are professionals, employees, self-employed, individual person, can take out a United Bank of India Mortgage Scheme loan. Others people who are income tax assessee and people who are salaried individuals and people who are self employed individuals. The salaried class can get a maximum of 48 times gross monthly income and others can get a maximum of the net annual income of three years. The type of loans given is current account overdraft or term loan. The contribution of the customer ranges from 15% to 20% of the total loan amount depending on the loan.
Last Updated on 5/26/2011
India Mortgage Loans
