85 Lakh Union Bank of India Home Loan

If you want to find a home loan that is convenient for you, Union Bank of India provides multiple options. The Union Bank of India 85 lakh home loan is a substantial financing option the bank provides. This loan offers attractive interest rates, flexible repayment tenures, and minimal processing fees, making it a viable choice for those looking to invest in their dream home. The bank’s customer-friendly policies ensure an easy application process with quick approvals and disbursals. Union Bank of India also provides customised loan solutions to individual requirements, including loans for ready-built homes, under-construction properties, and home renovations. Union Bank of India ensures borrowers receive support throughout their home-buying journey. Whether you are a first-time homebuyer or looking to upgrade, the Union Bank of India 85 Lakh Home Loan can be an excellent financial solution for achieving your housing goals.

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Table of Content

1. 85 Lakh Home Loan Union Bank of India Highlights

2. 85 Lakh Home Loan EMI for 5 Years Union Bank of India

3. 85 Lakh Home Loan EMI for 10 Years Union Bank of India

4. 85 Lakh Home Loan EMI for 15 Years Union Bank of India

5. 85 Lakh Home Home Loan EMI for 20 Years Union Bank of India

6. 85 Lakh Home Home Loan EMI for 25 Years Union Bank of India

7. 85 Lakh Union Bank of India Home Loan Fees and Charges

8. 85 Lakh Union Bank of India Home Loan Documents Required

9. 85 Lakh Union Bank of India Home Loan Eligibility Criteria

Written By

Hepson Franklin

Hepson Franklin is a seasoned financial expert and accomplished writer specialising in Financial Services, Investments, Loan Assessments, Mutual Funds, Banking & loan products. With a wealth of experience in the financial industry, he has established himself as a trusted voice, providing invaluable insights and guidance to both seasoned investors and those new to the world of finance. With a comprehensive understanding of the intricate facets of the financial landscape, he is dedicated to demystifying complex financial concepts for readers of all backgrounds.

Reviewed By

Amit Prakash Singh

Co-Founder, Square Yards & Chief Business Officer, Urban Money

Amit Prakash Singh is the Chief Business Officer at Urban Money. With over nine years of experience at Square Capital, he has played a crucial role in establishing it as one of India's premier loan advisory services. Amit's deep financial insights and extensive knowledge have driven significant business growth and strategic advancements. He has successfully built and managed large sales teams, optimised costs, and created leaders within the industry. Amit's financial expertise and strategic vision are key to the ongoing success and expansion of Square Yards and Urban Money.

85 Lakh Home Loan Union Bank of India – Highlights

The Union Bank of India 85 Lakh Home Loan offers an excellent financing solution with competitive interest rates and flexible tenure options.

Feature	Details
Loan Amount	85 Lakh
Interest Rate	8.35% to 10.90% p.a.
Loan Tenure	Up to 30 years

85 Lakh Home Loan EMI for 5 Years Union Bank of India

A 5-year tenure provides a swift loan repayment period, making it suitable for borrowers looking to clear their debt quickly while managing higher monthly EMIs.

Tenure	EMI Payable	Total Amount Payable
5 years	1,73,776	1,04,26,599

85 Lakh Home Loan EMI for 10 Years Union Bank of India

Choosing a 10-year tenure balances monthly EMI payments and the loan repayment duration, making it easier for borrowers to manage their finances effectively.

Tenure	EMI Payable	Total Amount Payable
10 years	1,04,707	1,25,64,858

85 Lakh Home Loan EMI for 15 Years Union Bank of India

A 15-year tenure spreads the loan repayment over an extended period, reducing the monthly EMI burden and allowing for more financial flexibility.

Tenure	EMI Payable	Total Amount Payable
15 years	82,957	1,49,32,291

85 Lakh Home Home Loan EMI for 20 Years Union Bank of India

Opting for a 20-year tenure offers lower EMIs, making it suitable for individuals seeking long-term financial planning with manageable monthly outflows.

Tenure	EMI Payable	Total Amount Payable
20 years	72,960	1,75,10,400

85 Lakh Home Home Loan EMI for 25 Years Union Bank of India

A 25-year tenure provides the lowest monthly EMIs, ensuring maximum affordability and ease in managing long-term financial commitments.

Tenure	EMI Payable	Total Amount Payable
25 years	67,587	2,02,76,170

85 Lakh Union Bank of India Home Loan – Fees and Charges

The Union Bank of India 85 Lakh Home Loan features transparent and minimal fees, with no charges for part-prepayment, improving the loan’s affordability and flexibility.

Fee/Charge	Details
Processing Fee	Up to 2% of the loan amount
Part-Prepayment Charges	Nil

85 Lakh Union Bank of India Home Loan – Documents Required

Documents required to avail of the Union Bank of India 85 lakh home loan are listed below

KYC Documents: Aadhaar Card, Driving License etc.
Address Proof: Any government-approved Identity proof clearly showing your address. Utility bills are also accepted.
Income Proof: Salary slips for the last 3 months, Form 16, and Income Tax Returns for the previous 2 years.
Bank Statements: Bank account statements for the last six month

85 Lakh Union Bank of India Home Loan – Eligibility Criteria

The eligibility criteria to qualify for an 85 lakh Union Bank of India home loan are minimal, which allows a vast customer base to qualify for the loan amount

Indian residents and Non-Resident Indians.
Minimum age of 18 years at the time of application, maximum 75 years at maturity.
Individual and joint applicants are eligible.

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Frequently Asked Questions

What is the EMI for an 85-lakh home loan for 20 years at Union Bank of India?

The EMI for an 85-Lakh Home Loan with a 20-year tenure is ₹72,960, totalling ₹1,75,10,400 over the entire loan period.

Who is eligible for an 85 lakh home loan at Union Bank of India?

Indian residents, NRIs, individuals, and joint applicants aged between 18 and 75 can apply for the 85 lakh home loan.

What is the monthly interest rate of an 85 lakh home loan at Union Bank of India?

The monthly interest rate varies from approximately 0.696% to 0.908%, reflecting annual rates of 8.35% to 10.90%.