Union Bank Union Awas (Rural & Semi-Urban)
Primary Lending Institution:Union Bank of India
Up to ₹20 Lakh (Rural / Semi-Urban) home loan at 8.40% – 9.10% with Up to 30 years tenure.
This loan requires the property to be on clear patta or revenue-recorded land with valid Gram Panchayat NOC. Urban commercial properties ineligible.
What is Union Bank Union Awas (Rural & Semi-Urban)?
Rural and semi-urban focused home loan tailored for farmers, agri-allied entrepreneurs, and rural artisans constructing homes on ancestral or patta land.
Key Benefits & Features
Tailored for rural locations; accepts agricultural income proof and local revenue patta; flexible annual/half-yearly repayment aligned with crop harvests.
Property & Project Eligibility Requirements
Rural homestead or patta land with clear hereditary or purchase title deed and Gram Panchayat sanction.
Borrower Eligibility Criteria
Farmer, rural artisan, or small entrepreneur residing in rural or semi-urban centre with verified land title.
How to Apply (3 Verified Paths)
Apply online through net banking portal or visit lending branch with loan inquiry.
Apply online at https://www.unionbankofindia.co.in/english/union-awas.aspx with digital KYC and property details.
Visit nearest branch of the institution with income proofs and sale agreement.
Documents Required Checklist
Aadhaar Card, PAN Card, Last 3 months salary slips or 2 years ITR-V, 6 months bank account statement, Title deed, Approved building plan and municipal tax receipts.
Frequently Asked Questions
What is the maximum loan tenure available for Union Bank Union Awas (Rural & Semi-Urban)?
The maximum repayment tenure offered for Union Bank Union Awas (Rural & Semi-Urban) is Up to 30 years, subject to borrower's age not exceeding 70 years at loan maturity.
What are the processing charges and prepayment rules for Union Bank Union Awas (Rural & Semi-Urban)?
The processing fee is 0.25% (Min ₹1,000, Max ₹5,000) + GST. As per RBI guidelines, zero prepayment penalties apply to all individual floating-rate home loans.
What documents are required to apply for Union Bank Union Awas (Rural & Semi-Urban)?
Applicants must provide KYC (Aadhaar, PAN), 3 months salary slips or 2 years ITR with computation, 6 months bank statements, and clear property title documents with municipal sanctions.
Why does Union Bank Union Awas (Rural & Semi-Urban) require property approval in a formal layout?
This loan requires the property to be on clear patta or revenue-recorded land with valid Gram Panchayat NOC. Urban commercial properties ineligible.