You are currently viewing Union Bank Mortgage Loan

Union Bank Mortgage Loan

Lender

Union Bank of Nigeria

Eligibility

For Employees of both government and private organisations who earn at least N250,000 per month, have identified a property with valid title located in any of Lagos, Abuja, Port Harcourt or Enugu who must have received at least one month salary through Union Bank (with at least six months statement from some other bank.)

Loan Limit

Maximum Limit: No limit. It depends on the applicant’s salary.

Interest Rate

Interest Rate: 12% p.a.
Insurance: 1%
Management Fee: 1%

Max Tenor

The repayment period is a maximum of: 15 years or 180 months

Security Required

Salary domiciliation.
Insurance.
Title to the property bought

Documents Required

Standard Letter of undertaking.
Duly filled Application form and Offer letter.
Account statement.
Document in Transit.
Retail loan Checklist.
Property lien/mortgage agreement

Approval Time

About two to twenty-one working days from the time you submit all the required documentation

Thinking About Repayment Plan?

Calculate the monthly payment and overpayment for the loan
10 00010 000 000
160
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