Union Bank of India encompasses a broad variety of home loan services. The bank is favoured by millions of customers due to its wide array of financial services and loan products. The Union Bank of India Home Loans are tailored to the demands of diverse consumers and are packed with exclusive incentives.

Loan Amount

Up to 90% for loans below Rs.30 lakhs

Up to 80% for loans over and above Rs.30 lakhs

Repayment Tenure

Get up to 30 years to repay your loan

Interest Rates
  • EBLR = RBI’s Repo Rate + 2.80%
  • Currently at 6.80%
  • Interest rate = EBLR rate + Risk Premium
  • Ranges between 

Processing charges

0.50% of the loan amount subject to a maximum of Rs.15000 + GST

 

Additional Read: Union Bank of India Home Loans

Benefits of getting your home loan from Union Bank of India

  • Low interest rates
  • Low processing fees
  • Less paperwork
  • No prepayment penalties
  • No hidden costs and administrative charges
  • Balance home loan transfer

Who can get a home loan from the Union Bank of India?

Home loans can be availed by eligible Indian citizens and NRI applicants for the following reasons: 

  • Purchase/ construction of house/ flat
  • Purchase of plot and construction of house thereon
  • Repairs/ improvements/ extension of the existing residential property
  • Take-over of housing loan availed from another bank / Financial Institution

Additional Read: Check your eligibility for Union Bank of India Home Loan

Conclusion: A Home Loan with the Union Bank of India is very beneficial to borrowers, considering the low-interest rate and minimal processing fees. They also come with a long repayment tenure that will get you a lower EMI amount to repay your loan comfortably.