They have recently come up with a loan scheme that ensures the safety of future rent assets for the proprietors of houses. This is a new form of loans provided by banks in India. The homeowners can get the returns against renting or leasing out of their properties to the bank, multinational companies, insurance companies, financial bodies, public sector undertakings or central government offices.
Eligibility for United Bank of India Cash Rental Loans
UBI cash loans are offered to individuals or couples, firms, insurance companies, financial institutions, reputed companies and organizations having a healthy market status.
Other Features
The minimum amount of United Bank of India Cash Rental Loans is 0.50 lacs. The maximum amount is flexible depending on the total amount of loan assets and/or property being mortgaged.
Repayment options of United Bank of India Cash Rental Loans are more lenient if compared to other banks. The loan is either to be paid back within the tenure of the lease period or within 8 years, whichever is less.
The security deposits needed to submit at the time of issuing the loan include the assignment documents for future rent assets and/or LIP/KVP/bank's Term Deposit/Relief Bond.
The rate of interest for the landlords of UBI is 13% per annum, and for others is 14% per annum.
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