Union Plus Bank's Home Equity Loan is a fixed rate, fixed term loan based on the available equity in the customers home. Loan amounts start from $10,000 to $350,000 and interest is usually tax deductible. This loan has a fixed monthly payment, quick and easy closing process and a 25% interest rate reduction for automatic deduction from any checking or savings account. The bank does not charge any closing cost as well as no prepayment penalty or appraisal fee is applicable.