Union Bank of India Home Loan

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Salaried Employee

Business Owner

✓ Home Loan from ₹2 Lakhs to ₹15 Crores ✓ Interest Rates Starting @ 7.49% Check Offer

You can apply for a Union Bank of India Home Loan and borrow ₹20 Lakhs to ₹15 Crores. Enjoy flexible repayment tenures of up to 30 years and affordable interest rates starting at 8.50% p.a. Also, benefit from zero pre-closure charges and an easy application process.

Union Bank of India Home Loan Interest Rates

Here are the interest rates of home loans offered by the Union Bank of India:

Interest Rate	8.50% p.a. onwards
Processing Fees	0.50% of the loan amount or ₹15,000 + 18% GST, whichever is higher
Prepayment/Foreclosure Charges	Nil for floating interest rates

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

Other Fees & Charges Related to Union Bank of India Home Loan

Here are some other charges related to a Union Bank of India Home Loan that you should be aware of:

Valuation fee
Legal charges
Stamp duty
CERSAI charges
Memorandum registration charges

These are usually charged as per actual and add to the overall cost of the loan.

Features and Benefits of a Union Bank of India Home Loan

Loan Amount

Borrow amounts as high as ₹15 Crores to purchase the property

Flexible Repayment Tenure

Repay the loan at your pace with repayment tenures ranging up to 30 years

Attractive Interest Rates

Benefit from interest rates starting as low as 8.50% p.a.

High LTV Ratio

Get a loan of up to 75%-90% of the property value with this loan

Multi-purpose Loans

Utilise the loan amount to buy, construct, extend, repair or renovate a home.

Eligibility Criteria for a Union Bank of India Home Loan

Given below is a comprehensive list of the criteria you must fulfil to be eligible for this loan:

Eligibility Criteria	Details
Nationality	Indian
Type of Employment	Salaried or self-employed
Age	18 to 75 years
CIBIL score	750 or more

The Union Bank of India will also check whether you have a stable source of income when determining your eligibility for the loan. Get a complete understanding of the criteria set by the lender before applying for the loan to avoid delays and rejection.

Documents Required for a Union Bank of India Home Loan

It is crucial to be aware of the documents required for this home loan. Provided below are some documents you may be asked to furnish:

Bank statements of the last 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 Return filings
Completed loan application form
Two passport-size photographs

Disclaimer

The information and suggestions provided by BFDL hereinabove is related to the Non-Partnered Banks/ NBFCs and is just for the purpose of information and under no circumstances the information provided hereinabove is intended to be source of advice or recommending any financial advice or endorsement of any sort.

The information including interest rates or fees, loan amount and other charges with regard to any product, provided on this website is gathered through publicly available sources over the internet and is considered as accurate and reliable to the best of our knowledge. BFDL disclaims any responsibility or liability regarding inaccuracies, omissions, mistakes etc. as well as offers by the Non-Partnered Banks or NBFCs. The use of information set out is entirely at the User’s own risk and User should exercise due care prior taking of any decision, on the basis of information mentioned hereinabove. You are advised to visit/ contact the respective Banks/ NBFCs to verify the information before making any application or opening an account. Further, BFDL does not undertake any responsibility or liability to update this information. YOU ARE SOLELY RESPONSIBLE FOR ANY LIABILITY OR DAMAGE YOU INCUR THROUGH ACCESS TO OR USE OF THE SITE OR SUCH INFORMATION OR MATERIALS EXCEPT WHERE THE LAWS AND REGULATIONS OF A PARTICULAR JURISDICTION CONCERNING WARRANTIES CANNOT BE WAIVED. Additionally, display of any trademarks, tradenames, logo and other subject matters of intellectual property owners. Display of such Intellectual Property along with the related product information does not imply BFDL’s partnership with the owner of the Intellectual Property of such products.

Calculators

Home Loan Statements & Customer Care

Is it mandatory to have a co-applicant while applying for Union Bank of India Home Loans?

It is not mandatory to have a co-applicant when applying for this home loan. 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.

Does UBI provide a home loan amount of up to 90% of the property’s value?

Yes. If you plan to get a loan for your home, you can borrow up to 90% of the total property cost if the loan amount is under ₹30 Lakhs. This is as per the guidelines issued by RBI.

What is the repayment period of the Union Bank of India Home Loan?

The Union Bank of India offers a repayment period of up to 30 years on home loans.

What is the current interest rate of Union Bank of India Home Loans?

The current home loan interest rate of the Union Bank of India starts at 8.50% p.a.

Is there a way to prepay my Union Bank Home Loan? Are there any additional prepayment charges?

Yes, you can prepay your Union Bank of India Home Loan. If you have borrowed the amount at floating interest rates, then you will not be required to pay any prepayment charges. Otherwise, you may be asked to pay a nominal fee.

Can NRIs (Non-Resident Indians) get home loans from the Union Bank of India?

Yes, the Union Bank of India offers home loans specially designed to meet the needs of NRIs. Reach out to the bank and check the eligibility criteria as well as the documents required before applying for the loan.

Can I apply for a second loan even if I am an existing Union Bank of India Home Loan customer?

You can apply for a second home loan from the Union Bank of India. However, whether you get the loan will depend on your repayment capability and other eligibility criteria. Reach out to the Union Bank of India and discuss the requirements and terms to make an informed financial decision.