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Housing Loan Scheme at United Bank of India – Interest Rate

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Government of West Bengal
Finance Department
Budget Branch

No. 553-F.B. Dated: 11th August, 2014

MEMORANDUM

Sub: Housing Loan Scheme for the employees of the Government of West Bengal in association with the United Bank of India under tie-up arrangement – Rate of interest with immediate effect.

Ref No.: RBD/73/166/2014-15 dt. 13.06.2014.

In continuation of this Department Memo. Nos. 1456-F.B. dt. 08.11.2006; 828-F.B. dt. 29.07.2008; 1636-F.B. dt. 01.12.2008; 1860-F.B. dt. 06.01.2009; 2492-F.B. dt. 30.03.2009, 1300-F.B. dt. 11.09.2009; 505-F.B. dt. 11.03.2010; 2620-F.B. dt. 27.12.2010; 2242-F.B. dt. 30.11.2011 and 2151 dt. 14.03.2013, the undersigned is directed by order of the Governor to say that the Governor has been pleased to accord sanction to introduce the revised rate of interest in the Housing Loan Scheme for employees of Government of West Bengal with immediate effect in the following manner as prescribed by UNITED BANK OF INDIA.

2. Housing Loan Revised Rate of Interest (Per Annum) for loan limit upto Rs. 30.00 lakh to be valid for next one year with effect from 01.08.2014.

Sl. No. Period Rate
1 Repayment period upto 10 years 11.00% p.a. (fixed)
2 Repayment period above 10 years 11.25% p.a. (fixed)

3. The above rates will remain valid for the entire loan repayment period for all new loans sanctioned on the basis of this order.

4. All other terms and conditions as contained in the aforesaid Memo. No. 1457-F.B. dt.08.11.2006 and subsequent orders issued from time to time in the matter remain unchanged. It will be applicable to all new Housing Loan proposals sanctioned and disbursed during until further order with immediate effect.

Sd/- A. Srivastava
Joint Secretary to the
Government of West Bengal

No. 553-FB dated 11.08.2014, Source