United Bank of India (UBI) is one of the 14 major banks which were nationalised on July 19, 1969. Its predecessor the United Bank of India Ltd., was formed in 1950 with the amalgamation of four banks viz. Comilla Banking Corporation Ltd. (1914), Bengal Central Bank Ltd. (1918), Comilla Union Bank Ltd. (1922) and Hooghly Bank Ltd. (1932) (which were established in the years indicated in brackets after the names). The origin of the Bank thus goes back as far as 1914. As against 174 branches, Rs. 147 crores of deposits and Rs. 112 crores of advances at the time of nationalisation in July, 1969, today the Bank has 1450 branches, over Rs. 37,167 crores of deposits and Rs. 22,641 crores of gross advances as on 31-03-07. Presently the Bank has a three-tier organisational set-up consisting of the Head Office, 28 Regional Offices and 1450 branches.

United Housing Loan Scheme

A shelter which you can call your own has been eluding you so far? Not any more. With the United Housing Loan Scheme, almost any one can now fulfill his long cherished dream of owning a house or a flat of his/ her choice at most attractive terms.

Eligibility

Any individual aged 21 years or above having regular income.

Purpose :

• Purchase of land, purchase or construction of house/ flat.
• Purchase of up to 35 years old house/ flat.
• Renovation/ extension/ repair/ furnishing of house/ flat.
• Taking over of existing Housing Loan form other Bank/ Financial Institution.

The loan is now extended to those cases also where flats are being constructed by promoters/ developers where immediate mortgage of the property may not be possible.

Quantum of loan :

Quantum of loan depends on the cost of house/flat, application’s age, income, repayment capacity etc. Loans of higher amount may be considered on the basis of merit of the case. The maximum quantum of loan shall be as follows :

Metro	:	100
Urban	:	50
Semi-Urban Rural	:	25
Rural	:	15

Enhancement of loan upto 10% may be allowed for furnishing of house/ flat

Margin :

Minimum 25% of the project cost in all cases
N.B.

- Project cost includes purchase price/ construction or extension or repair cost plus registration cost.
- Margin is not applicable for additional loan amount towards One Time Premium of Life Insurance cover of the borrower under the Scheme.

Rate of Interest :

Float Interest Rate	:	9.25
Float Loan Eligibility	:	19 to 27
Processing Fee	:	NIL