Union Bank of India Home Loan
Union Bank of India offers home loans at interest rates starting from 7.15% p.a., with tenures of up to 30 years and EMIs as low as Rs.675 per lakh. Floating-rate borrowers pay no prepayment penalty on foreclosure, and the processing fee is 0.50% of the loan amount plus GST.
Union Bank of India Home Loan Details
The details about Union Bank of India home loan are given in the table below:
Interest rate | 7.15% p.a. onwards |
Current EBLR | 8.00% p.a. |
Processing Fees | with a maximum of Rs.15000 + GST |
Max Repayment Tenure | 30 years |
Note: These interest rates are effective from September 2026
Union Bank of India offers prospective homebuyers loans at competitive interest rates starting from 7.15% p.a. , longer tenures of up to 30 years coupled with EMIs as low as Rs.675 per lakh ensures a flexible repayment period. The bank also offers a full waiver of prepayment penalty on floating rate loans.
Union Bank of India Home Loan Interest Rates
UBI Home Loan Schemes | Interest Rates |
Union Home | 7.15% p.a. onwards |
Union Awas | 7.15% p.a. onwards |
Union Smart Save | 7.40% p.a. to 9.60% p.a. |
The final rate you get within this range depends on your CIBIL score: Union Bank of India's best rate of 7.15% p.a. applies to a CIBIL score of 825 and above, rising in slabs to 9.35% p.a. for scores between 600 and 649. A higher credit score therefore directly lowers your Union Bank home loan interest rate.
Compare Union Home Loan Interest Rate with other Banks
Name of Bank | Interest Rate |
7.75% p.a. onwards | |
8.00% p.a. onwards | |
7.50% p.a. onwards | |
7.60% p.a. onwards | |
7.15% p.a. onwards | |
7.75% p.a. onwards | |
8.75% p.a. onwards | |
7.20% p.a. onwards | |
7.75% p.a. onwards | |
7.35% p.a. onwards | |
7.755% p.a. onwards | |
Bajaj Housing Finance | 7.25% p.a. onwards |
Note: Interest rates updated on September 2026.
Union Bank of India Home Loan EMI Calculator
Knowing the Equated Monthly Instalments (EMIs) payable on your loan is of utmost importance when it comes to getting a housing loan. BankBazaar Union Bank of India Home Loan EMI Calculator is one such online tool that will help you get an idea of the EMIs you need to pay to the bank during the tenure.
This automated tool takes into account basic parameters such as the principal, rate of interest, loan tenure and the processing fee to calculate the EMI you will have to make against a loan.
Union Bank of India Home Loan Eligibility Criteria
Eligibility Criteria | Requirement |
Age |
|
Residency Status |
|
Type of Employment |
|
Union Bank of India Home Loan Schemes
- Union Home
- Available for single and joint application, even with siblings
- Several convenient ways to make repayments
- Also available for NRIs to purchase property in India
Interest rate for floating rate home loan | 7.15% p.a. onwards |
Processing fee | 0.50% of the loan amount (Subject to maximum of Rs.15,000 plus GST as applicable) |
- Union Awas -
- Customised for individuals with a minimum income of Rs.48,000 per year
- Can be availed for purchase/construction of a house, repairs/improvements/extension of an existing property.
- Customised for individuals with a minimum income of Rs.48,000 per year
- For purchase/construction: Maximum loan amount up to Rs.20 lakhs for semi-urban areas and up to Rs.15 Lakhs for rural areas.
- For repairs/improvement: Maximum loan amount up to Rs.10 lakhs for semi-urban areas and rural areas.
Interest rate for floating rate home loan | 7.15% p.a onwards |
Processing fee | 0.50% of the loan amount (Subject to maximum of Rs.15,000 plus GST as applicable) |
Union Green Home
Union Bank of India also offers Union Green Home, which prices eligible home loans at 10 basis points below the applicable Union Home rate once the property holds a recognised green-building certification. It follows the same CIBIL-linked rate slabs and repayment tenure as Union Home.
- Union Smart Save -
- Allows borrowers to deposit additional funds with the regular EMIs
- Savings on interest payments in case of additional deposits
- Opportunity to withdraw the excess funds later for personal requirements
- Interest rates range from 7.40% p.a. to 9.60% p.a.
Documents Required for All Home Loan Applicants under Union Bank
Identity Proof (any one) |
|
Proof of Residence (any one) |
|
Proof of Income |
|
Property Documents |
|
Other Documents |
|
Union Bank of India Pradhan Mantri Awas Yojana
Union Bank of India provides central assistance to the urban poor including slum dwellers to buy a house under the Pradhan Mantri Awas Yojana. The scheme can be availed by eligible beneficiaries looking to:
- Purchase/construct a new residential house
- Purchase of plot and construction of a residential house
- Extend/renovate an existing property
In order to be eligible for benefits under PMAY, the applicant must be a resident Indian citizen of at least 21 years of age and belong to one of the following categories:
- Economically Weaker Section (EWS)
- Low-Income Group (LIG)
- Middle Income Group (MIG)
Furthermore, the beneficiary or any of the beneficiary's family should not own a pucca house under their name in any part of the country.
Housing loans availed under the PMAY scheme are eligible for an interest subsidy of 4% on the first Rs.8 lakh of the loan amount, for a tenure of up to 12 years, under the PMAY-U 2.0 Interest Subsidy Scheme, subject to income and property-value limits.
Union Bank of India Home Loan Moratorium Period
The moratorium period for various home loan purposes is as given below:
- For purchase or construction: Moratorium period of up to 36 months
- For repair and renovation: Moratorium period of 12 months
- For Composite Home Loans, from the date of first disbursement or up to the period allowed by Development Authority from the date of purchase of plot, whichever is earlier: Moratorium period of up to 48 months
How to Apply for Union Bank Home Loan
A home loan from Union Bank of India can be applied using any of the three ways mentioned below:
- Application through BankBazaar: To apply for a home loan from Union Bank of India through BankBazaar, you need to visit the BankBazaar website and go to the home loan section. There, click on the 'Apply Now' button against Union Bank Home Loan. Next, provide the details asked for and click on 'Submit'.
- Applying through the website of Union Bank: In order to apply from the bank's website, you need to visit the official website of Union Bank of India. Following that go to the home loan section and click on 'Apply Online' and follow the steps mentioned there. In case, you need any assistance you can contact Union Bank customer care on the toll-free numbers.
- Applying offline: To apply offline, you can visit any branch of the bank with the required documents.
Union Bank of India Home Loan Customer Care
Union Bank of India Central Office:
Union Bank Bhavan, 239,
Vidhan Bhavan Marg, Nariman Point,
Mumbai - 400021
Toll Free numbers: 1800 2333/1800 8333
Email - customercare@unionbankofindia.bank.in
FAQs on Union Bank of India Home Loan
1.How long does it take for a Union Bank of India home loan to get sanctioned?
A Union Bank of India home loan is typically sanctioned within a few working days of submitting a complete application. The exact timeline depends on document verification and the property check. Submitting accurate paperwork upfront usually results in faster approval.
2.What is EBLR in a Union Bank of India home loan?
EBLR stands for External Benchmark Lending Rate, the RBI-mandated benchmark banks use to price floating-rate loans. Union Bank of India links its home loan rate to the RBI repo rate as its EBLR. Your final home loan rate is this benchmark plus a spread based on your credit profile.
3.What documents are required for a Union Bank of India home loan?
A Union Bank of India home loan application needs proof of identity, address, income and property ownership, along with a duly filled application form. Salaried and self-employed applicants submit slightly different income documents. The full checklist is listed in the documents table above.
4.Can NRIs apply for a Union Bank of India home loan?
Yes, Non-Resident Indians can apply for a Union Bank of India home loan to purchase residential property in India. The loan is subject to RBI's foreign exchange regulations for NRI lending. Eligibility and documentation requirements are similar to those for resident Indian applicants, with some additional NRI-specific paperwork.
5. Can an existing Union Bank of India home loan customer take another home loan?
Yes, an existing Union Bank of India home loan customer can apply for an additional home loan. The bank assesses the new application on its own eligibility and repayment capacity, alongside the existing loan obligation. Approval depends on your overall credit profile at the time of application.
6.Who can be a co-applicant for a Union Bank of India home loan?
An immediate family member, such as a parent, spouse, earning child or sibling, can be a co-applicant for a Union Bank of India home loan. Adding a co-applicant combines both incomes for eligibility purposes, which can raise the loan amount you qualify for. Every co-applicant shares equal responsibility for repaying the loan.
7.Can I apply for a Union Bank of India home loan online?
Yes, you can apply for a Union Bank of India home loan online through the bank's website or through BankBazaar. The online process involves filling in your personal, income and property details before uploading the required documents. You can also complete the application offline at any Union Bank branch.
8. Are there charges for prepaying a Union Bank of India home loan?
Union Bank of India does not charge a prepayment penalty on floating-rate home loans repaid through personal sources or balance transfer to another lender. This waiver makes it easier to close your Union Bank home loan early and save on interest. Fixed-rate loans may follow different prepayment terms, so it is worth checking your loan agreement.
Disclaimer
Credit Card:
Credit Score:
Personal Loan:
Home Loan:
Fixed Deposit:
Copyright © 2026 BankBazaar.com.