Union Bank of India Home Loan

Union Bank of India provides home loans up to ₹15 Cr with interest rates starting from 8.50% p.a. Enjoy a repayment period of up to 30 years. With minimal paperwork & hassle-free approval, this home loan makes it easier to get your dream home.

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✓ Home Loan from ₹2 Lakhs to ₹15 Crores ✓ Interest Rates Starting @ 8.50% Apply Now

The Union Bank of India Home Loan is a financial instrument that can help you purchase, construct, or renovate a home. Union Bank of India provides various types of home loans at competitive interest rates with flexible repayment options.

You can use the loan amount for various purposes, such as buying a new property, renovating an existing property, or transferring an existing home loan from another bank.

Furthermore, you can get a loan of up to ₹15 Cr at attractive interest rates from 8.50% onwards.

Continue reading to understand more about Union Bank of India Home Loan eligibility and other essential Union Bank home loan details.

Union Bank Home Loan Interest Rates and Charges 2023

Interest Rate	8.50% p.a. onwards
Loan Amount	Up to ₹15 Crores
Processing Fees	0.50% of the loan amount or ₹15,000 + 18% GST (Whichever is higher).
Prepayment/Foreclosure Charges	Nil for floating interest rates
Maximum Repayment Tenure	Up to 30 years
Types Available	Fixed and floating interest rates

Disclaimer: Above-mentioned rates and charges are subject to change at the lender’s discretion.

Check the current interest rates for home loans in 2023

Compare Union Bank Home Loan With Other Partners

The following table compares Union Bank housing loan interest rates with other partners of Bajaj Markets.

Name of the Financial Institution	Interest Rates (% p.a.)
Bajaj Housing Finance Limited	8.50% onwards
Home First Finance Company	9.50% onwards
ICICI Bank	9.00% onwards
India Shelter	10.50% onwards
Kotak Mahindra Bank	9.00% onwards
LIC Housing Finance	8.65% onwards
PNB Housing Finance	8.50% onwards
Shriram Housing Finance	10.90% onwards
Shubham Housing Finance	11.50% onwards

Disclaimer: The Union Bank of India housing loan interest rate and any rates of any other lenders are subject to change at the lender’s discretion.

Union Bank of India Housing Loan - Features & Benefits

Loan Amount

You can get the funds you need for purchasing or constructing your home

Flexible Repayment Tenure

The repayment tenure ranges between 12-360 months, allowing you to pay your EMIs without financial burden.

Attractive Interest Rates

The UBI Home Loan Interest Rates start at 8.50% p.a., thus being very pocket-friendly.

Balance Transfer Options

You can also transfer your home loan balance at an affordable Union Bank of India Home Loan interest rate through the facility of a balance transfer.

Property Value

Get a loan of up to 75%-90% of the property value when you apply for a Union Bank home loan online/offline.

Loans for Varied Purposes

You can avail a home loan at nominal Union Bank of India Home Loan rates to purchase a new or old house or a flat for residential purposes, construct a residential unit or extend, repair or renovate an existing house.

Knowing these Union Bank of India Home Loan details can help you avail one without much hassle. All you have to do is check if you meet the required Union Bank housing loan eligibility and then submit the necessary documents for a Union Bank of India Home Loan. That’s all, and you can get the amount credited to your bank account quickly once approved.

Union Bank Home Loan Eligibility

Now that you are familiar with Union Bank housing loan details, you must also know about home loan eligibility at Union Bank of India. This helps avoid unnecessary delays in your loan approval process.

Given below is a comprehensive list of UBI home loan eligibility criteria:

You must be an Indian citizen who may be a salaried/self-employed professional
You must have a regular source of income
You must be at least 18 years of age to avail the loan and a maximum of 75 years of age at the loan exit

You need to maintain a good credit score of 750 or above with a stable credit history

Calculate your home loan eligibility criteria to check if you can avail the requested loan amount. Moreover, checking also helps you assess the Union Bank of India housing loan interest applicable to you.

Documents Required for Union Bank Home Loan

After checking the United Bank of India Home Loan eligibility, you must submit the necessary documents after approval. This helps you avail the loan hassle-free.

Here are the documents you need to submit when you apply for a Union Bank of India Home Loan online/offline:

Bank statements for the previous six months
Salary slips of the last three months (for salaried applicants)
Certificate & Proof of business existence (for self-employed applicants)
Property Documents
Form 16 / Income Tax Returns
Completed loan application form
Two passport-size photographs

How to Apply for a Union Bank Home Loan Online

To apply for a Union Bank home loan online on Bajaj Markets, follow the steps mentioned below:

Click on the ‘Apply Now’ tab in the ‘Home Loan’ section
Fill in your personal, income details and check for a loan offer
Select Union Bank from the list of partners
Find out the home loan amount you can avail
Fill in your required home loan amount & details of the property
Check out your loan details, along with the Union Bank of India Home Loan processing fee, charges and net disbursal amount
Once you have completed these steps, a loan expert will connect with you to process your application further. Check current home loan interest rates at Union Bank of India before applying.

Home Loan Partners

Home Loan Quick Links

Government Schemes

If you are a male, your wife, father, mother, son, daughter-in-law, or unmarried daughter can be co-applicants. Also, if the property is owned jointly, your brother, unmarried sister, grandchildren from son, and grandparents can be co-applicants.

Your father or mother can be your co-applicant if you are an unmarried female. However, if you are married, your co-applicants can be your husband, son, daughter-in-law, unmarried daughter, father-in-law, or mother-in-law.

Yes. If you plan to get a loan for your home, Union Bank of India can offer up to 90% of the total property cost for a maximum tenure of 30 years. However, note that the housing loan interest rate at Union Bank of India can vary depending on the tenure and the borrowed amount.

Union Bank of India offers a 0.05% concession on home loan interest rates for women borrowers.

The moratorium period for the Union Bank of India Home Loan is up to 36 months if you are constructing or purchasing a house. However, if you are availing a home loan for renovation or repair, there is a moratorium period of 12 months.

There is a maximum repayment period of up to 30 years to repay your loan at affordable housing loan interest rates in Union Bank of India.

As mentioned earlier, you must meet the required eligibility criteria and submit the relevant documentation, when you avail a home loan from Union Bank of India.

It is not mandatory to have a co-applicant for Union Bank Home Loans. However, having a co-applicant with a good credit score and a regular source of income can increase the chances of loan approval and help avail a higher loan amount.

Yes, you can claim tax benefits under Section 80C and Section 24B of the Income Tax Act on the principal repayment and interest payments on the home loan.

The current home loan interest rate of the Union Bank of India starts at 8.50% p.a. You can get the lowest rate as per your employment profile by meeting the eligibility criteria and maintaining a good credit history.