UUCB SPECIAL OVERDRAFT SCHEME ON HOUSING LOANS

1	Type of Advance	Overdraft
2	Purpose	For Personal Need
3	Eligibility	All existing Housing Loan Borrowers or those acquired/being acquired by way of takeover from other banks. (Jointly/severally)
4	Quantum of Loan	Minimum Rs. 50,000/- Maximum Rs. 25 Lakh The limits are subject to:- Net take home pay should be at least 40% of the income (net of proposed EMI) Note: No new Borrower(s) /Co-borrower(s) / Joint borrower(s) is/are to be added considered at the time of sanctioning of Overdraft limit.
5	Margin	20%  of the value residential house including outstanding of Housing Loan
6	Rate of Interest	0.50% higher than Housing Loan at monthly rest
7	Review of OD Facility	Annual Renewal Overdraft facility can be continued/renewed till the closure of Housing Loan.
8	Security	Extension of Existing Equitable / Registered Mortgage (1st charge) on flat / house financed. Existing guarantors in Home Loan
9	Processing charges	NIL
10	Inspection charges	As per existing guidelines
11	Deviation	For every item of Deviation from the scheme norms,  additional interest of 0.25% on the applicable rate of interest.
12	Out of Pocket Expenses for Documentation, LSR and Valuation Report to be borne by the applicants / borrowers.