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Union Bank of India Home Loan Interest Rates
Union bank of India offers home loans to Indian citizens and Non-Residents of India (NRIs). Under its various schemes, applicants can avail of a loan of up to 30 lakhs. The loan is repaid through Equated Monthly Installments (EMIs). The bank offers attractive interest rates and flexible tenures so that the pressure of repayment is not high. The bank has not disclosed its interest rate.
Home Loan offer for You
8.35% - 10.9%
Interest Rate (p.a.)Up to ₹50L
Tenure(Up to 4 Years)₹2,044 - ₹2,169
EMI Per Lakh
- Home Loan offer for You
8.35% - 10.9%
Interest Rate (p.a.)Up to ₹50L
Tenure(Up to 4 Years)Up to 3% (plus applicable taxes) of the facility amount for sanctioned cases only
Processing Fee
Compare Union Bank of India Home Loan Interest Rates with Other Lenders
The following table summarises the Union Bank of India Home Loan Interest rates with other banks.
- Starting Interest Rate (p.a)
- Processing Fee
- Rating
- Min. Loan Amount
Clix Capital HL Interest Rate
15% - 25%
Up to 10% of loan sanctioned
4.5
₹2L - ₹2Cr
Tenure(1 - 25 Years)
Hero Housing Finance HL Interest Rate
15%
Initial Processing Fees- Up to Rs 5,000 Processing Fees including initial processing fee Up to 1% for cheque salaried Up to 3% for others
4.5
₹1L - ₹3Cr
Tenure(Up to 30 Years)
Hero FinCorp HL Interest Rate
13.22%
2.5% of the loan amount + applicable taxes
4.5
₹10L - ₹3Cr
Tenure(1 - 30 Years)
Vastu Housing Finance HL Interest Rate
12.5% - 19.5%
Up to 3% of the loan amount
4.5
Up to ₹50L
Tenure(Up to 20 Years)
- 5 Lac
- 20 Cr
- 5
- 30
- 6
- 20
Monthly Loan EMI
Payment Breakdown:
Principal Amount
₹10,00,000
Interest Payable
Total Amount Payable
The Union Bank Home Loan Interest Rate commence from 8.60% per annum. A borrower can avail of a loan from this financial institution starting from Rs 30 Lakhs. The Union Bank of India also offers a wide range of facilities and features that the borrower can avail of to make the repayment of the loan more hassle-free and convenient.
Union Bank of India Home Loan Interest Rate Highlights
Refer to the following table to gain knowledge of the key highlights offered by the Union Bank of India.
Loan amount | Rs 30 Lakhs Onwards |
Tenure | Ranges from One to 30 Years |
Loan Available | To both salaried and self-employed Individuals |
Processing Fee | 1% of the loan amount |
Union Bank of India Home Loan Interest Rates on Loan Schemes
The Union Bank offers the following home loan schemes to the applicant designed based on their varying needs and catering to the housing requirement of the country.
Union Bank Home Loan Scheme
- The Union Bank home loan scheme offers an avenue for single and joint applicants to obtain properties in India.
- NRIs can also avail of funds under this scheme.
- The bank offers a wide range of repayment options making the EMIs more manageable.
- The Union Bank Home Loan Interest Rate on this scheme is 8.60% per annum.
- The processing fee under this scheme is generally 0.5% of the loan amount.
Union Bank Awas Home Loan Scheme
- Individuals with an annual income of up to Rs 48,000 can apply under this scheme.
- This scheme is designed specifically for houses with a value of up to Rs 10 Lakhs in Semi-Urban and rural areas.
- The Union Bank Home Loan Interest Rate on this scheme is 8.60% per annum.
- The processing fee charged on the loan amount is 0.50%.
Union Bank Home Loan Smart Save
- This scheme allows borrowers to deposit additional funds with their EMI repayments.
- One can also make withdrawals at their discretion.
- Union Bank Home Loan interest rate commences from 9.10% on loan amount up to and above Rs 30 Lakhs.
Union Bank of India Home Loan Interest for Salaried and Self-Employed
The Union Bank of India Home loan interest rate for salaried and self-employed individuals differs based on the applicant. The Bank evaluates the applicant’s creditworthiness by referring to their CIBIL Score. Generally, the interest rate offered to salaried and self-employed individuals commences from 8.60% per annum.
Union Bank of India Home Loan Interest Rates for Govt Employees
Government employees can avail of lucrative interest rates from the Union Bank of India. They must reach out to the official channels established to understand the discounts and rebates offered on the interest rates and processing charges.
Union Bank of India Home Loan Interest Rates For Women
Union Bank of India offers subsidies on interest rates to women to stimulate female home ownership. The eligible applicants can visit the nearest branch of the Union Bank of India for further information.
Union Bank of India Home Loan Interest Rate For NRI
Non-Resident Indians invested in obtaining funds to acquire properties in India can apply under the Union Bank Home Loan scheme. The interest rate offered by the banks varies based on the CIBIL score and Financial stability of the applicant.
Union Bank of India Home Loan Interest Rate and Other Charges
The following table showcases the interest rates and the processing fee charged by the Union Bank of India.
Interest Rate | 8.25% – 10.35% |
Processing Fee | 0.50% of the loan amount |
Loan Amount | 75% to 90% of the property |
Tenure | Up to 30 Years |
How to Calculate Union Bank of India Home Loan Interest?
The Union Bank of India home loan interest rate can be calculated using the following formulae.
EMI = [P x r x (1+r)^n]/[(1+r)^n-1]
Where,
- P is the Principal amount.
- r is the rate of interest on the loan
- n is the tenure of the repayment
One can also employ a Union Bank Home Loan calculator to compute the Interest amount from the comfort of their home. This AI-powered tool allows users to review the interest and loan repayment almost instantaneously.
Why is the Union Bank of India Home Loan Best for Customers?
The Union Bank of India has established a wide range of Home loan schemes to cater to the housing requirements of the population in India in both rural and urban areas. Customers can avail of attractive interest rates and flexible repayment tenures.
Union Bank of India Home Loan Interest Rates for Existing Customers
The Union Bank of India home loan interest rates commence from 8.60% per annum. The existing customers can reach out to the nearest bank branch to learn about the discounts offered to the current customers on Home Loans.
Factors that affect Union Bank of India Home Loan Interest Rates and EMI
The following factors impact the Union Bank of India Home Loan Interest Rates.
- The interest offered to the borrower varies based on their CIBIL score. The bank evaluates its creditworthiness through the CIBIL score to determine the risk of the loan.
- The repayment tenure on loans also severely impacts the EMIs. As a longer tenure spreads out the repayment and reduces the monthly payments against the loan, making it more budget-friendly.
- The applicant’s financial standing also impacts the loan interest rate offered, as applicants with a steady income stream are offered lucrative interest rates.
Frequently Asked Questions (FAQs)
What's the interest rate for the Union Bank of India?
The interest rate on Union Bank of India commences from 8.60% per annum.
Does Union Bank of India provide 90% of a home loan?
The loan-to-value ratio on a home loan depends on the scheme under which the applicant has applied for a home loan.
What is the EMI for 30 lakhs home loan for 20 years?
The EMI amount on the home loan of 30 Lakhs with a repayment tenure of 30 years would vary based on the interest rate.
How can I reduce my Union Bank of India home loan interest rate?
A borrower can avail of lucrative interest rates from the Union Bank home loan by maintaining a satisfactory CIBIL Score.
What is the average interest rate for a home loan in Union Bank of India?
The average interest rate offered by Union Bank of India varies from scheme to scheme and applicant to applicant.
Quick Links
Bank Wise Home Loan Interest Rate
- Reliance Capital Home Loan Interest Rate
- DCB Bank Home Loan Interest Rate
- YES Bank Home Loan Interest Rate
- RBL Bank Home Loan Interest Rate
- ICICI Bank Home Loan Interest Rate
- Federal Bank Home Loan Interest Rate
- IDFC FIRST Bank Home Loan Interest Rate
- Deutsche Bank Home Loan Interest Rate
- HDFC Bank Home Loan Interest Rate
- Axis Bank Home Loan Interest Rate
- Kotak Bank Home Loan Interest Rate
- Housing Development Finance Corporation Home Loan Interest Rate
- IndusInd Bank Home Loan Interest Rate
- karnataka bank Home Loan Interest Rate
- LIC Housing Finance Home Loan Interest Rate
- IDBI Bank Home Loan Interest Rate
- HSBC Home Loan Interest Rate
- CITI Bank Home Loan Interest Rate
- HDFC Sales Home Loan Interest Rate
- Punjab & Sind Bank Home Loan Interest Rate
- Canara Bank Home Loan Interest Rate
- Bank of Baroda Home Loan Interest Rate
- State Bank of India Home Loan Interest Rate
- Punjab National Bank Home Loan Interest Rate
- Indian bank Home Loan Interest Rate
- Bank of India Home Loan Interest Rate
- Union Bank of India Home Loan Interest Rate
- Bank of Maharashtra Home Loan Interest Rate
- Clix Capital Home Loan Interest Rate
- Hero Housing Finance Home Loan Interest Rate
- Hero FinCorp Home Loan Interest Rate
- Vastu Housing Finance Home Loan Interest Rate
- Aadhar housing Finance Home Loan Interest Rate
- DHFL Home Loan Interest Rate
- Muthoot Finance Ltd Home Loan Interest Rate
- Edelweiss Financial Services Home Loan Interest Rate
- Piramal Housing Finance Home Loan Interest Rate
- Fullerton India Home Loan Interest Rate
- Aditya Birla Finance Limited Home Loan Interest Rate
- Capri Global Home Loan Interest Rate
- Capital First Ltd. Home Loan Interest Rate
- Poonawalla Fincorp Limited Home Loan Interest Rate
- Cholamandalam Finance Home Loan Interest Rate
- IndiaBulls Home Loan Interest Rate
- Ujjivan Small Finance Bank Home Loan Interest Rate
- Tata Capital Housing Finance Limited Home Loan Interest Rate
- L&T Finance Home Loan Interest Rate
- Godrej Housing Finance Home Loan Interest Rate
- Punjab National Bank Housing Finance Home Loan Interest Rate
- IIFL Finance Home Loan Interest Rate
- Bajaj Finserv Home Loan Interest Rate
- Home First Finance Company Home Loan Interest Rate
Home Loan by Private Bank
- Reliance Capital Home Loan
- DCB Bank Home Loan
- YES Bank Home Loan
- RBL Bank Home Loan
- ICICI Bank Home Loan
- Federal Bank Home Loan
- IDFC FIRST Bank Home Loan
- Deutsche Bank Home Loan
- HDFC Bank Home Loan
- Axis Bank Home Loan
- Kotak Bank Home Loan
- Housing Development Finance Corporation Home Loan
- IndusInd Bank Home Loan
- karnataka bank Home Loan
- LIC Housing Finance Home Loan
- IDBI Bank Home Loan
- HSBC Home Loan
- CITI Bank Home Loan
- HDFC Sales Home Loan
Home Loan by Nationalized Bank
Home Loan by NBFC
- Clix Capital Home Loan
- Hero Housing Finance Home Loan
- Hero FinCorp Home Loan
- Vastu Housing Finance Home Loan
- Aadhar housing Finance Home Loan
- DHFL Home Loan
- Muthoot Finance Ltd Home Loan
- Edelweiss Financial Services Home Loan
- Piramal Housing Finance Home Loan
- Fullerton India Home Loan
- Aditya Birla Finance Limited Home Loan
- Capri Global Home Loan
- Capital First Ltd. Home Loan
- Poonawalla Fincorp Limited Home Loan
- Cholamandalam Finance Home Loan
- IndiaBulls Home Loan
- Ujjivan Small Finance Bank Home Loan
- Tata Capital Housing Finance Limited Home Loan
- L&T Finance Home Loan
- Godrej Housing Finance Home Loan
- Punjab National Bank Housing Finance Home Loan
- IIFL Finance Home Loan
- Bajaj Finserv Home Loan
- Home First Finance Company Home Loan
Home Loan Calculators
Union Bank Of India Calculators