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Union Bank of India offers generous support for individuals who want to own a house. Whether the applicants wish to buy, build, or renovate, the banks have options and resources to disburse funds on time. The bank further guarantees eligible candidates will receive the best rates available in the market, associated with flexible repayment plans. However, before finalising your decision, you should have a clear insight into the 70 lakh home loan EMI with Union Bank of India. This helps determine whether you can manage such a substantial financial commitment, empowering you to make a more informed decision. We further detail the Union Bank of India home loan interest rate for 70 lakhs, applicable eligibility, documentation, and associated fees, ensuring a seamless borrowing experience. Let’s scroll down.
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70 Lakh Home Loan Union Bank of India – Highlights
The following is the Union Bank of India home loan interest rate for 70 lakhs and other key parameters:
Interest Rates | Starting at 8.50% p.a. |
Loan-to-value ratio (LTV) | 75% of the property price |
Loan Tenure | Up to 30 years |
Eligibility | Both Indian citizens and NRIs |
70 Lakh Home Loan EMI for 5 Years Union Bank of India
Have a look at the 70 lakh home loan EMI in Union Bank of India with a tenure of 5 years:
Loan Amount | Interest Rate | Loan Tenure | EMI Amount | Total Interest Payable | Total Amount Payment |
70 Lakh | 8.50% p.a. | 5 years | ₹1,43,616 | ₹16,16,943 | ₹86,16,943 |
70 Lakh Home Loan EMI for 10 Years Union Bank of India
Below is the 70 lakh home loan EMI for 10 years from the Union Bank of India:
Loan Amount | Interest Rate | Loan Tenure | EMI Amount | Total Interest Payable | Total Amount Payment |
70 Lakh | 8.50% p.a. | 10 years | ₹86,790 | ₹34,14,798 | ₹1,04,14,798 |
70 Lakh Home Loan EMI for 15 Years Union Bank of India
Here is the Union Bank of India home loan 70 lakh EMI amount with a tenure of 15 years:
Loan Amount | Interest Rate | Loan Tenure | EMI Amount | Total Interest Payable | Total Amount Payment |
70 Lakh | 8.50% p.a. | 15 years | ₹68,932 | ₹54,07,718 | ₹1,24,07,718 |
70 Lakh Home Loan EMI for 20 Years Union Bank of India
Following is the 70 lakh home loan EMI for 20 years from the Union Bank of India:
Loan Amount | Interest Rate | Loan Tenure | EMI Amount | Total Interest Payable | Total Amount Payment |
70 Lakh | 8.50% p.a. | 20 years | ₹60,748 | ₹75,79,430 | ₹1,45,79,430 |
70 Lakh Home Loan EMI for 25 Years Union Bank of India
Let’s examine the 70 lakh home loan EMI in Union Bank of India with a tenure of 25 years:
Loan Amount | Interest Rate | Loan Tenure | EMI Amount | Total Interest Payable | Total Amount Payment |
70 Lakh | 8.50% p.a. | 25 years | ₹56,366 | ₹99,09,769 | ₹1,69,09,769 |
70 Lakh Union Bank of India Home Loan – Fees and Charges
Following are the fees and charges in addition to the Union Bank of India home loan interest rate of 70 lakhs:
Fee/Charge | Amount |
Processing Fee | 0.50% of the loan amount |
Foreclosure Charges | Nil |
Penal Interest Rate | 2% of the default amount |
Stamp Duty & Other Statutory Charges | At actuals |
70 Lakh Union Bank of India Home Loan – Documents Required
Have a look at the required documents for the Union Bank of India 70 lakh home loan:
- Proof of Identity: PAN card, aadhar card, voter ID, passport, etc.
- Proof of Address: Utility bill, rental agreement, aadhar card, driving license, etc.
- Proof of Salaried: Last 2-year ITR/Form 16 and 3-month salary slips (Applicable only to salaried individuals).
- Proof of Business: Last 3-year ITR and other documents show your business existence (Applicable only to self-employed).
- Proof of Property: Sale agreement, title deed, payment receipts, NOC from the builder, etc.
- Additional Documents: Bank statement for the last 6 months and two recent passport-size photographs.
70 Lakh Union Bank of India Home Loan – Eligibility Criteria
Below is the applicable 70 lakh home loan eligibility in Union Bank of India:
- Age: You should be between 18 and 75 years of age.
- Employment Criteria: You should be either a salaried or self-employed individual.
- Credit Score: You should have a good credit score, typically 700 or higher.
- Residential Status: You must be an Indian citizen, including the NRIs.
Frequently Asked Questions
What is the EMI for a 70 lakh home loan for 20 years in Union Bank of India?
For a home loan of 70 lakh from Union Bank of India with a 20-year tenure and an annual interest rate of 8.50%, the estimated EMI amounts to ₹60,748.
Who is eligible for a 70 lakh home loan in Union Bank of India?
What is the monthly interest rate of a 70 lakh home loan in Union Bank of India?
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