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UBI to launch reverse mortgage scheme by April 2008

UBI to launch reverse mortgage scheme by April 2008

Apnaloan.com Research Bureau

23 Mar 2008

The clarifications on tax treatment of reverse mortgage loans seem to have boosted the sector. The latest player expected on field is the Union Bank of India (UBI).

Reverse mortgage loans are loans that are offered to senior citizens against their self-owned, self-occupied residential properties.

The bank will launch the loan scheme by April 2008.