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    UBI Home Loan Eligibility

    Union Bank of India offers eligible customers home loan products at competitive interest rates with minimal documentation and longer repayment period. Read more for UBI home loan eligibility criteria and other loan details.

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    Home Loan BYTES FROM OUR KITCHEN

    Union Bank of India is one of the biggest government-owned banks. UBI has over 4214 branches across pan India. With headquarter in Mumbai, UBI was established in 1919. The bank offers various types of banking services to individuals and businesses across India.

    The bank offers home loans for the following types of applications:

    • Buying a house or flat
    • Constructing a house or flat
    • Buying a plot to construct a house or flat later
    • For repairs, renovations, adding an extension to the existing property, etc.
    • Balance transfer or take-over of housing loan that was taken from another bank

    Home Loan Eligibility Criteria

    UBI accepts home loan applications from Indian citizens and NRIs who are at least minimum of 21 years of age. The applicant needs to have a regular income or the applicant can opt for a joint application by showing the income of their spouse. Close family members such as father, mother, spouse, son, or daughter, are eligible to be a co-applicant.

    Depending on the value of the property and the applicant’s repayment capability, the bank will determine whether a loan can be provided to the applicant.

    The bank provide loans for repayment up to a maximum of 30 years. If the loan application is for repairs or renovation, the loan will be provided for repayment up to a maximum of 10 years. The borrower can take advantage of the flexible repayment methods the bank has to offer.

    Documents required for UBI Home Loan Application

    The applicant is required to furnish the completed application forms with the following documents:

    • Proof of Identity (PoI)
    • Proof of Address (PoA)
    • Copy of PAN Card
    • Bank statement for last 12 months
    • Proof of income for salaried applicants:
      • Last one year ITR
      • Form-16/ letter from Employer
      • Last 6 months salary slip
    • Proof of income for self-employed and business applicants:
      • Last three years ITR
      • P and L Balance sheet
    • Proof of income for agriculturists:
      • Income certificate from concerned revenue officer (Tahsildar)
      • Proof of land holding
    • Property papers (allotment letter, title deed, etc.)
    • 3 photographs, and other details applicable for salaried and self-employed applicants

    Home Loan EMI Calculator

    The applicant can make use of the Home Loan EMI calculator available on the bank’s website to determine their EMI based on several factors. By providing details such as total loan amount, interest rate (per annum), and loan tenure in months, you can see the approximate amount you will be repaying as EMIs.

    UBI will go through various parameters and factors to determine your eligibility for a home loan. Factors such as monthly age, income, qualifications, assets and liabilities of the borrower, joint application by co-applicants, etc. will be reviewed by the bank to determine the eligibility.

    Credit score

    Credit Score is an important aspect that can turn to be the deciding factors for the bank to decide whether the loan application can be approved or not. The Credit Score indicates your financial credibility based on your credit/loan history. Based on the history of repayments, late payments, secured and/or unsecured loan, and various other details related to credit and loan history, the Credit Score is generated. The Credit Score helps the banks in avoiding defaulters and check their repayment capability.

    The bank charges 0.50% as the processing fee for loan amount for a maximum of Rs.15,000 + GST as applicable. If needed, the bank can provide a top-up loan for the existing home loan borrowers. The bank takes about five working days to sanction the loan applications upon receiving all required documents from the applicant.

    UBI’s Approved Housing projects

    The bank also offers a list of pre-approved housing projects across India. You can visit the bank’s website to view the entire list of properties that are eligible for a pre-approved home loan. The pre-approved housing projects can help you save a significant amount of time that applicants waste by waiting for the loan application to get approved. At times, the loan application gets rejected and you end of realizing that you have wasted a lot of time. The pre-approved housing projects will help you avoid a situation like that since the listed properties are already approved for a loan. For pre-approved housing project, the bank will carry out an in-depth check on the property to assess the builder’s or developer’s track record, turnaround time for completing projects, and various other factors to determine whether the property will qualify for a pre-approved loan or not. Here, the borrower can obtain the list of properties, choose a property that suits the requirements, and contact the branch for a quick pre-approved loan. The bank will still look into your qualifications, total income, credit score and other details to approve or reject the application.

    How to contact Union Bank of India

    You can visit the nearest UBI Branch to obtain more details on home loans. The branch will also guide you through the entire process of loan application and help you submit the application at the branch itself. You can also visit the bank’s website to fill in your details so a representative from the UBI Home Loan team can get in touch with you.

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    UBI Home Loan Eligibility Reviews

    • Union Bank of India Home Loan
      "Good Loan services"
      0.5 4.0/5 "Great!"
      I have taken a home loan from Union bank. Since my builder had a tie up with union bank, they have not asked the much documentation and they have sanctioned the loan on time. They have offered me a interest rate of 8.75% and the processing fee was around Rs. 9000.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jan 22, 2019
    • Union Bank of India Home Loan
      "Good Loan services"
      0.5 4.0/5 "Great!"
      I have taken a home loan from Union bank. Since my builder had a tie up with union bank, they have not asked the much documentation and they have sanctioned the loan on time. They have offered me a interest rate of 8.75% and the processing fee was around Rs. 9000.
      Was this review helpful? 1
      , bangalore
      Reviewed on Jan 22, 2019
    • Union Bank of India Home Loan
      "Good Experience"
      0.5 4.5/5 "Excellent!"
      In 2008, I took the housing loan from Union bank of india, they gave me the set of documentation list, I have submitted it got approved on time. The interest rate is good around 8.2% it was the floating one it was fine for me. The response is good, I directly deal with the bank manager.
      Was this review helpful? 3
      , bangalore
      Reviewed on Jan 09, 2019
    • Union Bank of India Home Loan
      "Good in Service"
      0.5 3.0/5 "Satisfactory"
      I had taken a home loan from Union Bank of India. Well at the time of applying, there was not much delay and it was processed on time. I have compared the rate of interest with other banks as well and i found union bank given that same market value . Well the loan tenure period is 30 years.
      Was this review helpful? 2
      , ahmedabad
      Reviewed on Nov 24, 2018
    • Union Bank of India Home Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      It has been a good experience i had with this loan where the loan amount has been satisfactory and the interest rate has been nominal when compared with the market rate. There is almost 9 months left to close this loan and there has not been any hassle faced with their banking services so far.
      Was this review helpful? 4
      , ahmedabad
      Reviewed on Oct 23, 2018
    • Union Bank of India Home Loan
      "Very Good Service"
      0.5 4.0/5 "Great!"
      The experience i had with this Home Loan has been easy, the loan amount which they had provided me has been satisfactory as well. The interest rate with them has been around 8.4% which has been nominal when compared with the market rate. Their customer support team also had been helpful and had been good as well.
      Was this review helpful? 5
      , chandigarh
      Reviewed on Oct 06, 2018
    • Union Bank of India Home Loan
      "Best Service"
      0.5 5.0/5 "Blown Away!"
      I have taken a home loan with Union Bank of India and my loan experience was good, the loan amount was for Rs 12-13 lacs with little high interest when compared to others. Customer service was good and the tenure period was 15 years but i preclosed in 8 years, there was no penalty charged for preclosure.
      Was this review helpful? 9
      , kolkata
      Reviewed on Sep 06, 2018
    • Union Bank of India Home Loan
      "Average service"
      0.5 3.0/5 "Satisfactory"
      I have taken a home loan with Uniion Bank of India and my experience was average. The loan amount was for Rs 17 lacs with nominal interest rate when compared to others. Customer service was good and they responded on time. The tenure period for this loan is 20 years.
      Was this review helpful? 2
      , kolkata
      Reviewed on Aug 29, 2018
    • Union Bank of India Home Loan
      "Good Service so far"
      0.5 5.0/5 "Blown Away!"
      I took a home loan from the Union Bank of India. The whole loan process took considerable time. The loan amount was 10 lacs, the interest rate is nominal and they offered a floating rate of interest. Overall it has been a very good experience with the home loan with the Union Bank of India.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Jun 23, 2018
    • Union Bank of India Home Loan
      "Better service"
      0.5 5.0/5 "Blown Away!"
      I got the housing loan service with the UNION BANK OF INDIA around 4 years ago. The customer support service and the response is good with the Union bank of India and they took around a week time to disburse the loan amount. The rate of interest and the charges are average with the UNION BANK OF INDIA home loan services.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Jun 13, 2018
    • Union Bank of India Home Loan
      "Very good service"
      0.5 4.0/5 "Great!"
      I have taken this loan almost 4 and a half years ago. The rate of interest which they have provided was 8.3% which is very good. The whole process had been very good. Everything has been very good and even the customer service had been good where they had been making calls at time to time for updates.
      Was this review helpful? 1
      , mumbai
      Reviewed on May 24, 2018
    • Union Bank of India Home Loan
      "Very good service"
      0.5 5.0/5 "Blown Away!"
      The home loan service is excellent with the UNION BANK OF INDIA. I have got the home loan from the Union bank around 6 years ago. The customer support service and the response is good with the UNION BANK OF INDIA and they have approved and disbursed the loan amount within a week time.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Apr 30, 2018
    • Union Bank of India Home Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I had got the home loan from the Union bank of India around 3 years ago and this loan has the tenure of 20years. The customer support service is good with the Union bank of India and they give good response to the customers. The rate of interest and the charges are average with the UBI.
      Was this review helpful? 4
      , hyderabad
      Reviewed on Mar 31, 2018
    • Union Bank of India Home Loan
      "Good service"
      0.5 4.0/5 "Great!"
      The home loan got approved from the UNION BANK OF INDIA around 3 years ago. The customer support service is good with the UNION BANK OF INDIA and they gave me the required loan amount and it was disbursed on time. The customer support service is excellent and they supported me a lot.
      Was this review helpful? 1
      , noida
      Reviewed on Mar 19, 2018
    • Union Bank of India Home Loan
      "Good"
      0.5 5.0/5 "Blown Away!"
      My home loan is running in Union Bank of India. I have taken it for 10 years and completed 6 years. They processed the loan faster. The rate of interest and charges are good. I have purchased a residential property. I am paying monthly 3500 rupees through net banking.
      Was this review helpful? 0
      , mumbai
      Reviewed on Feb 28, 2018
    • Union Bank of India Home Loan
      "Better service"
      0.5 4.0/5 "Great!"
      Got the Home loan from the UNION BANK OF INDIA within 25 days of time,. The customer support service is good with the UNION BANK OF INDIA. The rate of interest and the charges are low with the UNION BANK OF INDIA when compared with the ICICI bank.
      Was this review helpful? 0
      , surat
      Reviewed on Feb 12, 2018
    • Union Bank of India Home Loan
      "Good product"
      0.5 4.0/5 "Great!"
      I had applied and got the Hose loan in Union bank of India. I am paying the EMI on time, a part from that I didn't have that much interactions with the Union bank of India. But to what I had experienced I would say it was a very good service that I had with Union bank of India.
      Was this review helpful? 0
      , new delhi
      Reviewed on Jan 30, 2018
    • Union Bank of India Home Loan
      "Good home loan"
      0.5 4.0/5 "Great!"
      Expect for the statements UNION Bank of India is doing good when it comes to housing loan. The process was a bit lengthy ultimately I had taken loan from Union bank of INDIA. Interest rate is good when compared to others in the market. It is a sole account not a joint home loan.
      Was this review helpful? 0
      , new delhi
      Reviewed on Sep 26, 2017
    • Union Bank of India Home Loan
      "Good Service"
      0.5 4.0/5 "Great!"
      I availed home loan from Union bank. The rate of interest is 9.8% and I almost done with the loan. I had paid till eleven lakhs still have to pay the balance amount. The services are good with Union bank for the home loan and their customer support is fine.
      Was this review helpful? 3
      , hyderabad
      Reviewed on Jul 06, 2017
    • Union Bank of India Home Loan
      "Its Good"
      0.5 4.0/5 "Great!"
      Union bank of India is really good, their service is also excellent. I had taken the housing loan during the year 2012, at the time they charged me 10.5% of interest rate on home loan. My loan amount is Rs.10 lakhs for the tenure of ten years. I am very much fine with their service completely.
      Was this review helpful? 3
      , chennai
      Reviewed on Jun 15, 2017
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