Rate of Interest – House Building Loan at UBI

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Government of West Bengal
Finance Department
Budget Branch

No. 2151-F.B.  Dated: 14th March, 2013


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.

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 and 2242-F.B. dt. 30.11.2011, 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 08.11.2012.

Sl. No. Period Rate
1. Repayment upto 5 years 10.75% p.a.
2. Above 5 years to 15 years 11.00% p.a.
3. Above 15 years to 20 years 11.25% p.a.

All the above rates will remain valid for first 5 years for the new loans sanctioned during the period and then these rates will be subject to “Reset” clause at an interval of 5 years.

3. 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/- Secretary to the
Government of West Bengal

No. 2151-F.B. dated 14.03.2013, Source