United Commercial Bank Home Loan
United Commercial Bank Home Loan is a personal loan that is an amount of money lent by a bank or other lender to finance the purchase of a property or the construction of a home. The lender and the borrower agree on a term in which the principal amount of the loan must be repaid with interest. Home loans generally have a tenure of 25 to 30 years. The borrower will agree to a repayment schedule, which will usually be in monthly installments but can vary.
What is UCBL home loan?
UCB home loan is a personal loan that is money lent by a bank or other lender to finance the purchase of a property or the construction of a house.
There are many types of home loans available in Bangladesh, but each home loan is generally defined by four main factors:
- Principal: The amount of money you have borrowed. This amount is usually the purchase price of the home minus your down payment, minus closing costs, and other related fees.
- Tenure: How many days do you have to repay the entire loan. A home loan tenure can range from five to a maximum of 30 years.
- The interest rate: The annual amount you have to pay the lender to borrow money, is shown as a percentage of the current principal balance.
- Payment frequency: How often you make payments. That is, how often the borrower pays back their mortgage, usually on a monthly or bi-weekly basis.
Features of the United Commercial Bank Home Loan
- Interest rate: 9.00%
- Take over: 7.50% (Maximum)
- Loan Amount: 2 crore
- No hidden charges
- Equated Monthly Installment (EMI) facility
- Early settlement facility
- Tenure: Up to 25 Years (Maximum)
- Disbursement against the tripartite agreement and registered mortgage
- Loan facility for Non-Resident Bangladeshis (NRB)
Fee and Charges
Loan processing Fees for General Customers: UCBL Home Loan
- 0.50% for Loan Amount up to 50 Lac, Maximum. Tk15000
- 0.30 % for Loan Amounts above Tk. 50 Lac, Maximum Tk. 20000
- Early Settlement fee: 0.50%
- Partial settlement fee: Maximum 30% of outstanding
- Stamp Charge: At actual
- Penal Charge Arrear: 2% per annum
- Home Guarantor Replacement Fee: Nil
- CIB Fee: BDT 100
- Documentation Charge Incident at actual.
Eligibility for the United Commercial Bank Home Loan
- Customer Segments:
- Salaried Personnel, Self-employed Professional, Business Person, Landlord/ Landlady with a minimum 3 years of experience.
- Age: Minimum 25 Years
- Applicant must have a minimum income of:
- Salaried clients: BDT 40,000
- Professional: BDT 60,000
- Self-employed clients: BDT 60,000
- Businessmen: BDT 60,000
Required common documents for the applicant
Common Documents for all:
- Completed KYC form and signed by the applicant
- Passport size color photograph
- National ID/ Smart Home
- Bank Statement last six months
- Policy first-party comprehensive insurance
- Home price quotation
- Visiting Home
- Copy of utility bill
- e-TIN/ TIN certificate/ copy of Income Tax acknowledgment
- Home Guarantee along with color photographs, NID, Visiting home/Office ID/Business Home of the home guarantor(s).
- Other documents or information as deemed necessary
Self-employed and businessman
- Photocopy of the latest trade license
- Latest 12 months Home or Business bank statement
- Partnership Deed (Registered/ Notarized)
- Copy of Memorandum and Articles of Association
- Copy of Certificate of Incorporation
- Latest 6(six) months Home bank statement
- Professional Certificate
- Declared Income on home letterhead
- Ownership Proof (i.e. Registered Deed/ Utility Bill/ Mutation Copy/ Duplicate Carbon Receipt/ Holding Tax etc.)
- Rental Agreement (Should be on Government Revenue Stamp Paper)
- Latest 6(six) months Home bank statement.
For Salaried Individuals:
- LOI on official letterhead with proper Salary breakdown (signed by Manager Branch/Accounts/HR/Admin/Finance) or Pay slip stating Company Name
- Cash Voucher
- Office ID
- Latest 6(six) months original bank statement
Frequently Asked Questions (FAQs) on United Commercial Bank Home Loan
Q: What is the purpose of the United Commercial Bank Home Loan?
A: The United Commercial Bank Home Loan serves various purposes including buying a new or old house/flat, constructing/extending a house/apartment, or renovating/altering an existing house/flat.
Q: What is the maximum loan tenure?
A: The maximum loan tenure for a United Commercial Bank Home Loan is up to 25 years.
Q: What is the interest rate for UCB Home Loan?
A: The interest rate for UCB Home Loan is 9.00%.
Q: What is the minimum income to be eligible for a Home Loan?
A: The minimum income requirements for eligibility are as follows:
- For Salaried Individuals: BDT 40,000
- For Professionals: BDT 60,000
- For Landlord/Landlady: BDT 60,000
- For Business Individuals: BDT 60,000
Q: What is the maximum loan amount?
A: The maximum loan amount for United Commercial Bank Home Loan is BDT 2 crore.
Q: What is the minimum age to apply for a Home Loan?
A: The minimum age to apply for a Home Loan is 25 years.
Q: What is the processing fee for the Home loan?
A: The processing fee for the Home loan is a maximum of 0.50% as per the schedule of charges of UCBL.
Q: What is the Early Settlement Charge for a Home loan?
A: The Early Settlement Charge for a Home loan is 0.50% of the settled amount.
Q: Is there any fee for changing home loan EMI?
A: No, there is no fee for changing home loan EMI.
Q: How to contact for UCB home loan?
A: You can contact any nearest branch or reach out to the following address:
Bulus Center, Plot – CWS- (A)-1, Road No – 34, Gulshan Avenue, Dhaka-1212
Phone: +88-02-55668070, +88-09610999999
Fax: +88-02-55668070-6000, +88-09610999911-5200
E-Mail: info@ucb.com.bd