United Bank of India Launches 8% home Loan Scheme
United Bank of India (UBI) has launched an 8% home loan scheme available till March 31 2010.
The bank would charge 8% interest on home loan for the first year and 9% for the second to fourth years. From the fifth year onwards, it would charge interest on a floating basis, which would be 2 percent less than the benchmark prime lending rate (BPLR) prevailing at that time, the release said.
In this scheme the processing fee will be nil.
Under fixed rate, the bank will charge one percent less than the BPLR and the home loan interest rate would be revised every five years, it said.
Along with this United Bank of India announces reduction in its Car Loan by 1%. This is applicable on the card rates up to 31st Dec 2009. Above this there won’t be any processing fee on car loans.
The bank would charge 8% interest on home loan for the first year and 9% for the second to fourth years. From the fifth year onwards, it would charge interest on a floating basis, which would be 2 percent less than the benchmark prime lending rate (BPLR) prevailing at that time, the release said.
In this scheme the processing fee will be nil.
Under fixed rate, the bank will charge one percent less than the BPLR and the home loan interest rate would be revised every five years, it said.
Along with this United Bank of India announces reduction in its Car Loan by 1%. This is applicable on the card rates up to 31st Dec 2009. Above this there won’t be any processing fee on car loans.
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