Union Bank Overdraft, Union Bank Overdraft Interest Rates

Union Bank Overdraft offers all its account holders an overdraft facility with minimum interest rate.

Union Ashiyana Overdraft

Union Bank offers Union Ashiyana Overdraft for personal or business needs or for repayment of high cost loans.

Union Bank Overdraft Features

  • Applicant is free to use the OD amount for personal requirements or business needs
  • Applicant must be a home loan borrower of Union Bank
  • This is a secured type of OD
  • For security purpose, extension of mortgage of residential property obtained for Home Loan

Union Bank Overdraft Eligibility

  • Applicant should be home loan borrower of Union Bank either existing or a new one
  • Minimum age of the applicant is 18 years
  • Maximum age of the applicant is the retirement age for salaried individuals and 65 years for non-salaried individuals

Quantum of Union Ashiyana Overdraft

Maximum up to 20 lakhs

Union Bank Overdraft Prepayment Penalty

The prepayment penalty of Union Ashiyana Overdraft is nil

Union Bank Overdraft Repayment

  • The repayment should be made by the borrower with in the maximum permissible exit age. This will be the retirement age for salaried borrower and 65 years of age for non-salaried borrower
  • Borrower needs to reduce the overdraft sanctioned limit by 20% every year during the last 5 years of his exit age or due date of the home loan, whichever is earlier
  • Make sure that before the closure of Housing Loan facility, the overdraft account is closed