Union Bank of India Latest Home Loan Interest Rates

As Generation has changed, now-a-days youngsters are preferring to buy a house in their early careers! As they are getting 4-5 digit salary figures in their initial earning years, they are preferring to take a home loan and fulfill their dream.

As banks are coming forward to issue home loans who have good earning capacity and cibil score, generally taking housing loans has become a common thing these days!

Let us discuss Union Bank of India housing loan details –


  • The loan borrower should have a valid income source
  • The loan should taken for residential purposes only
  • The loan borrower should submit his proof of address, proof of identity and income sources
  • Maximum age to take housing loan is up to 75 Years
  • He should have good credit history


  • There is no maximum ceiling on the quantum of the loan
  • Loan amount would be sanctioned purely on loan repayment capacity of the borrower and on the value of the property
  • If the loan is taken for renovation and repairs, maximum loan amount sanctioned will be 30 Lakh

Margin of Loan

  • 10% of the total purchase cost is the loan amount is below 30 Lakhs
  • 20% of the total purchase cost if the loan is above 30 Lakhs
  • 20% of the total cost for renovation charges.

Loan Repayment Period

  • The Maximum Repayment period for renovation/ repairs of house is 15 years
  • The Maximum Repayment Period for Construction of a house is 30 Years

Mode of Payment

  • Loan can be paid through ECS(Electronic Clearing Service)
  • Instructions would be given to bank for EMI Debits
  • EMIs can be paid monthly, quarterly, half yearly or even yearly but the customer has to maintain sufficient balance at the time of ECS Clearance

Housing Loan Interest RateUpto 30 Lakh

CIBIL ScoreSalariedNon Salaried
800 and aboveExternal Benchmark Lending Rate(EBLR)-0.40=6.40%EBLR-0.50=6.50%
From 750 to 799EBLR-0.30=6.50%EBLR-0.20=6.40%
From 700 to 749EBLR+0.05=6.85%EBLR+0.10=6.90
From 650 To 699EBLR+0.10=6.90%EBLR+0.20=7%
Less Than 650EBLR+0.35=7.15%EBLR+0.45=7.25%
Floating Rate

Above 30 Lakh

CIC ScoreSalariedNon Salaried
800 and aboveEBLR-0.40=6.40%EBLR-0.30=6.50%
From 750 To 799EBLR-0.30=6.50%EBLR-0.20=6.60%
From 700 To 749EBLR+0.15=6.95%EBLR+0.20=7%
From 650 To 699EBLR+0.25=7.05%EBLR+0.30=7.10%
Less Than 650EBLR+0.50=7.30%EBLR+0.55=7.35

The above interest rates are “Floating Interest Rates”. Let us consider the -“Fixed Rates

Loan AmountRate of Interest
Upto 30 Lakh11.40%
30 Lakhs to 50 Lakhs12.40%
Above 50 Lakhs12.65%

The above interest rates are taken from the official webiste of union bank and the bank has the right to change interestrates without prior notice!

Consult your union bank branch and make a informed choice of the latest interest rates

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