Tuesday, November 19, 2019

Union Bank of India- Union Top-up Scheme

Purpose of Loan:

To meet any type of expenditure in respect of the House viz. repairs/ renovation/ remodeling / furnishing etc.


Existing home loan borrowers (Standard Assets with regular EMI repayment) who:

  • Are salaried/professional & self employed, agriculturists or business men having regular source of Income.

  • Have repaid minimum 24 EMIs in Home loan account.

  • Where net take home pay/monthly income is not be less than 35% of gross monthly income/earnings after considering all deductions including the EMI of the proposed TOP-up Loan.

Quantum of Loan:

The maximum amount of loan can be extended upto 50% of EMIs repaid subject to minimum of Rs.50,000/- to Maximum of Rs.5,00,000/-

Rate of Interest:

Term Loan

BPLR 1.75% i.e. 10.00% (Floating) BPLR 1.00% i.e. 10.75% (Floating)


50% [i.e. only 50% of the amount already repaid will be considered as top-up loan subject to maximum cap].

Processing Fee:

0.50% of the Top-up Loan amount.

Repayment of Loan:

The maximum repayment period is of 5 years or left over period for the borrower before he attains retirement or 60 years of age which ever is earlier. Term loan is subject to review every year.

For more information: Website