General information

Unian Bank Home loan

Union Bank Home Loan, Union Bank Of India

Union Bank offers home loans at competitive rates starting at 6.40% pa. The best part is that you don’t have to pay any prepayment penalties if you decide to foreclose on the loan.

The applicable processing fee is 0.5% of the sanctioned amount and GST.

Eligibility criteria

Age is at least 21 years and below 70 years

Interest rate 6.40% – 7.35% pa
Current EBLR 6.80% pa
Processing fees 0.50% of loan amount
Maximum repayment period 30 years

Union Bank of India offers loans to prospective home buyers at competitive interest rates starting at 6.80%.

Longer periods up to 30 years and EMIs below Rs 652 per lakh ensures flexible repayment periods. Longer periods up to 30 years and EMIs below Rs 652 per lakh ensures flexible repayment periods.

You can borrow up to Rs 30 lakh for home repairs. The bank offers full waiver of prepayment penalty on floating rate loans.

Union Bank of India Home Loan Interest Rates 2022

UBI Home Loan Plans Interest rates
Union Home 6.40% – 7.35% pa
Union Avas 6.40% – 7.35% pa
Union Smart Save 7.05% ರಿಂದ 7.65% pa

Note: Union Bank of India women borrowers who get a home loan can get 6.40% interest rate when their Sibyl score is equal to 800 or when applying for a loan up to Rs 30 lakh.

Union Bank of India Home Loan Eligibility Criteria

Eligibility criteria The need
Age Minimum age: 21 years Maximum age: 70 years
Residency status Indian Resident, Non Resident Indian (NRI)
According to employment Salaried, self-employed

Union Home

Also available for single and joint application with siblings

Several convenient ways to repay

Nisarga are also available for purchase of property in India Floating Rate Home Loan Interest Rate 6.40% to 7.35% pa Fixed Rate Home Loan Interest (up to 5 years) 11.40% to 12.65% pa Refinancing fee of 0.50% (Maximum Rs 15,000 and GST as applicable)

Union Avas

Customized for individuals with a minimum income of Rs 48,000 per year
Especially for the purchase or construction of houses with a maximum loan amount of up to Rs 10 lakh for semi urban areas and Rs 7 lakh for rural areas. 7 lakhs of the cost.
Interest on floating-rate home loans 6.40% to 7.35% pa Fixed rate home loan interest (for 5 years) 11.40% to 12.65% pa

Union Smart Save

Allows borrowers to deposit extra cash with regular EMIs
Savings on interest payments in case of additional deposits
Effective Interest Rate (Salary) Effective Interest Rate (Non Salary) Upto 30 lakhs 7.05% to 7.50% pa7.10% to 7.60% pa30 lakh 7.15% to 7.60% pa7.20% to 7.65% pa

Document required for all home loan applicants under UNION Bank

  • Proof of identity
  • Proof of residence
  • Proof of income
  • Property records
  • Other documents

Union Bank of India Prime Minister Awas Plan
Union Bank of India provides central assistance to the urban poor, including slum dwellers, to buy a home under Prime Minister Awas Plan. Eligible Beneficiaries

Economically Weaker Section (EWS)
Low Income Group (LIG)
Middle Income Group – I (MIG – I)
Middle Income Group – II (MIG – II)

In addition, no beneficiary or any beneficiary’s family shall have any house in any part of the country in their name.

Home loans received under the PMAY scheme are eligible for interest subsidy up to 6.50% depending on the category of beneficiary.

Union Bank of India also offers moratorium period of up to 36 months. However, the moratorium period does not apply to loans received for a completed home / flat purchase.

How to apply for a Union Bank home loan

To apply from the Bank’s website, you must visit the official website of Union Bank of India.

Go to the Home Loan section and click Apply Now online

And follow the steps outlined there.

If you need any help, you can contact Union Bank Customer Service at toll-free numbers.

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