Union Bank Home Loan Interest Rate Calculator - Dec 2016

Union Bank of India Home Loan Interest Rates

Last Updated 07th Dec 2016
7th Dec 2016 - RBI keeps interest rates unchanged. Repo rate stays at 6.25%. CRR at 4%. 100% CRR on fresh deposits withdrawn
Interest Rate 9.40% - 9.45%
Check Special Offers
Lowest EMI Rs. 834 per lakh
Max Tenure 30 years
Processing Fee Upto 0.50%
Prepayment, Foreclosure Charges Allowed with nil charges for floating rate loans
Age Min 21 and Max 60 years for Salaried
Min 21 and Max 65 years for Self Employed
Apply Home Loan Online
 Salaried   Self Employed - Professional   Self Employed - Business 





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Union Bank of India Home Loan

Union Bank of India offers home loan to the people who want money to purchase a house, home renovation and home extension etc. The house itself acts as a security to the loan.

Home Loan Union Bank

Home loan interest rates offered by Union Bank of India depends upon MCLR.
  • Fixed rates allow you to borrow loan at a fixed price which won’t change in the whole tenure in case of change in MCLR rate and should be chosen only if you believe that the rates will not hike in future.
  • Floating rates changes with a single change in MCLR rate in your loan tenure. You should go for floating rates if you can take the risk of hike in interest rates.
Union Bank of India offers home loan based on 1 Year MCLR rates which is currently 9.30%.
Union Bank of India home loan interest rate depends upon
  • Loan amount: Home loan rate in Union Bank of India depends upon the loan amount you apply for. Higher the loan amount, lesser will be the interest rate
  • Company where you work: Union Bank of India has a list of companies to which they lend Home loan. Interest rate will be less if your company is listed
  • Your Salary: Income helps you in identifying your rate of interest. Union Bank of India interest rate varies with your monthly income. Higher the income, less will the rate of interest

Home Loan Charges

  • Foreclosure Charges - These charges are to be paid in case you want to repay your entire loan amount before the end of tenure period. Union Bank of India allows prepayment of home loan with Nil prepayment charges
  • Processing Fee - Union Bank of India asks for a processing fee of 0.50% of loan amount with applicable service tax

Union Bank Home Loan EMI Calculator

    Home Loan EMI of Union Bank of India is a fixed amount that you pay each month towards the repayment of your home loan till the end of tenure
  • Home Loan EMI calculator of Union Bank of India helps you to calculate your monthly EMI at different rate of interest and also check lowest EMI per lakh on home loan.
  • You can plan your loan amount according to your monthly repayment capacity because higher the loan amount, higher will be the EMI
  • Rate of interest is an important factor which affects your EMI. Higher the interest rate, higher will be the EMI
  • Loan tenure matters equally as higher tenure reduces your EMI
What are the benefits of calculating Union Bank of India Home Loan EMI?
  • EMI calculator of Union Bank of India helps you to calculate your monthly EMI at different rate of interest
  • Union Bank of India Housing Loan EMI calculator helps you to know your capacity to repay the loan after maintaining your standard of living
  • You get a rough idea about your monthly EMI and can plan your monthly budget accordingly

Union Bank Home Loan Eligibility Calculator

Home Loan eligibility criteria Union Bank of India
Eligibility of House loan in Union Bank of India relies upon different factors but the most important factor is your ability to repay the loan. The main factors on which the eligibility of an applicant depends are
  • Age: Age plays an important role to know your eligibility and repayment capacity. Union Bank of India offers Home loan to salaried at the age of 21 to 60 years and self employed individuals at 21 to 65 years
  • Income: In case of salaried person, Union Bank of India Loan eligibility significantly depends upon the income. Usually bank set minimum levels of income to apply for house loan. Salaried employee should be in government job or working with a reputed private company and getting regular salary in bank account with salary slip, form 16
  • Job stability and Profession: Job stability is important to improve your status and eligibility for Home loan from Union Bank of India. Minimum turnover and minimum net income criteria may apply. Business must be registered with at least one government agency such as service tax, VAT, excise, shops and establishment registrar. Other than job stability, profession is also an important factor which can affect your Union Bank of India eligibility. If you are working with a reputed company, probability of getting home loan from Union Bank of India increases as the income is considered to be more stable
  • CIBIL Score: Your past CIBIL history and repayment record of existing loans and credit cards has direct impact on your Home loan eligibility. If you have a poor repayment record, then you may not get the loan but on the other side, a regular repayment record increases your Home loan eligibility
  • Loan Amount: Union Bank of India gives you Home loan depending upon your income. Union Bank of India gives you an amount ranging from Rs. 1,500,000 to Rs. 50,000,000. To improve chances of approval, apply for a loan amount that you can comfortably service
  • Estimated eligibility online by using Eligibility Calculator.

    Union Bank of India Floating Rate Home Loans

    Union Bank of India Home Loan Floating
    Upto Rs. 3,000,000 - 9.40%
    Rs. 3,000,001 - 7,500,000 - 9.40%
    Rs. 7,500,001 - 10,000,000 - 9.45%
    Above Rs. 10,000,000 - 9.45% linked to 1 Year MCLR

    Union Bank of India Fixed Rate Home Loans

    Union Bank of India Home Loan
    Upto Rs. 3,000,000 - 11.40%
    Rs. 3,000,001 - 5,000,000 - 12.40%
    Rs. 5,000,001 - 10,000,000 - 12.65%
    Above Rs. 10,000,000 - 12.65% linked to 1 Year MCLR

    Union Bank of India Home Loan Top up, Transfer

    Transfer of Home Loan from another bank to Union Bank of India?
    Union Bank of India offers home loan balance transfer from another bank. This is subject to your meeting other eligibility criteria of Union Bank of India
    You can avail additional top-up home loan from Union Bank of India, subject to your eligibility

    Housing Loan Union Bank documents required

    Home Loan for Salaried employee Union Bank of India documents required

    • Filled up loan application form
    • 2 Passport Size Photo
    • ITR of last 1 years
    • Identity Proof - Passport/ Driving Licence/ Voter ID/ PAN
    • Residential Address Proof - Leave and License/ Registered Rent Agreement/ Utility Bill (upto 3 months old), Passport
    • Income Documents – 6 months payslip, 2 years Form 16, 6 months bank statement showing salary credit and any EMI debit

    Home Loan for Self-Employed Union Bank of India documents required

    • Filled up loan application form
    • 2 Passport Size Photo
    • Identity Proof - Passport/ Driving License/ Voter ID/ PAN
    • ITR of last 3 years
    • Residential Address Proof - Leave and License/ Registered Rent Agreement/ Utility Bill (upto 3 months old), Passport
    • Business proof such as VAT/ service tax registration, incorporation details in case of companies, business address proof, profit and loss account and balance sheets certified by CA, copy of partnership deed and proof of business existence and business profile

    Frequently Asked Questions

    Why to take home loan from Union Bank of India?
    Union Bank of India offers home loan at lower rate of interest i.e. at 9.40% with the lowest EMI of Rs. 834 per lakh. If you are paying EMI more than this then you can opt for balance transfer and relocate your home loan to Union Bank of India.
    What is the maximum loan tenure I can opt under Union Bank of India house loan?
    Union Bank of India offers you a longer tenure of 30 years to repay your home loan with a benefit of paying less EMI per month.
    Do I get tax benefit on home loan from Union Bank of India?
    As per Indian Income Tax Act of 1961, residents of India are eligible for tax benefits on principal amount and interest components of a home loan under the section 24 and section 80C of Income Tax Act.
    Can I foreclosure my home loan? What are the charges applicable?
    Yes, you can foreclose your home loan with Nil charges.
    Can I transfer my home loan from another bank to Union Bank of India?
    Yes, Union Bank of India gives you the facility to transfer your existing home loan with a hassle free process. Home loan balance transfer to Union Bank of India offers you to pay lower EMIs and save money.
    Can I club the income of my spouse with mine and apply for joint home loan?
    You can club the income of your spouse to increase your loan eligibility if the spouse is co-owner of the property or guarantor of the loan.
    What is the benchmark applicable for home loan in Union Bank of India?
    The benchmark applicable for home loan in Union Bank of India is 1 Year MCLR.
    What is the effect of part payments on Union Bank of India housing loan EMI ?
    Part payments help you in reducing the outstanding amount of loan which in turn will reduce the interest amount due. After making part payments, paying the same EMI will increase your involvement towards the principal amount which will help you in repaying the loan faster.
    How to increase my eligibility on Union Bank of India housing loan?
    If your spouse or family member is earning well, you can make your spouse or family member the co-applicant for your loan. The combination of both of your income will help you in increasing your eligibility to get loan.
    How will interest rate on Union Bank of India housing loan change in future?
    • Floating interest rate on Union Bank of India housing loan is linked to its 1 Year MCLR Rate, which is currently at 9.30%. So, when Union Bank of India offers a home loan at 9.40%, it applies a premium of 0.1% to its MCLR Rate to arrive at this home loan interest rate.
    • When RBI increases interest rates, the bank may increase its MCLR rate and the applicable interest rate for all existing and new home loans would increase. When RBI cuts interest rates and the bank reduces the MCLR rate, the benefit of lower rates will have to be passed to both old borrowers and new house loan accounts.

    Union Bank of India Home Loan in India

    Union Bank of India Home Loan Customer Care Number, Email, Application Status, Branches

    City Customer Care Number
    Agra 1800-208-2244, customercare@unionbankofindia.com
    Ahmedabad 1800-208-2244, customercare@unionbankofindia.com
    Ambala 1800-208-2244, customercare@unionbankofindia.com
    Anand 1800-208-2244, customercare@unionbankofindia.com
    Aurangabad 1800-208-2244, customercare@unionbankofindia.com
    Bangalore 1800-208-2244, customercare@unionbankofindia.com
    Bhilai 1800-208-2244, customercare@unionbankofindia.com
    Bhilwara 1800-208-2244, customercare@unionbankofindia.com
    Bhiwadi 1800-208-2244, customercare@unionbankofindia.com
    Bhopal 1800-208-2244, customercare@unionbankofindia.com
    Bhubaneswar Cuttack 1800-208-2244, customercare@unionbankofindia.com
    Bikaner 1800-208-2244, customercare@unionbankofindia.com
    Chandigarh 1800-208-2244, customercare@unionbankofindia.com
    Chennai 1800-208-2244, customercare@unionbankofindia.com
    Cochin 1800-208-2244, customercare@unionbankofindia.com
    Coimbatore 1800-208-2244, customercare@unionbankofindia.com
    Dehradun 1800-208-2244, customercare@unionbankofindia.com
    Delhi 1800-208-2244, customercare@unionbankofindia.com
    Durg 1800-208-2244, customercare@unionbankofindia.com
    Faridabad 1800-208-2244, customercare@unionbankofindia.com
    Gandhinagar 1800-208-2244, customercare@unionbankofindia.com
    Ghaziabad 1800-208-2244, customercare@unionbankofindia.com
    Goa 1800-208-2244, customercare@unionbankofindia.com
    Greater Noida 1800-208-2244, customercare@unionbankofindia.com
    Gurgaon 1800-208-2244, customercare@unionbankofindia.com
    Guwahati 1800-208-2244, customercare@unionbankofindia.com
    Gwalior 1800-208-2244, customercare@unionbankofindia.com
    Hyderabad 1800-208-2244, customercare@unionbankofindia.com
    Indore 1800-208-2244, customercare@unionbankofindia.com
    Jabalpur 1800-208-2244, customercare@unionbankofindia.com
    Jaipur 1800-208-2244, customercare@unionbankofindia.com
    Jalandhar 1800-208-2244, customercare@unionbankofindia.com
    Jodhpur 1800-208-2244, customercare@unionbankofindia.com
    Kanpur 1800-208-2244, customercare@unionbankofindia.com
    Karnal 1800-208-2244, customercare@unionbankofindia.com
    Kolhapur 1800-208-2244, customercare@unionbankofindia.com
    Kolkata 1800-208-2244, customercare@unionbankofindia.com
    Kota 1800-208-2244, customercare@unionbankofindia.com
    Kozhikode 1800-208-2244, customercare@unionbankofindia.com
    Lucknow 1800-208-2244, customercare@unionbankofindia.com
    Ludhiana 1800-208-2244, customercare@unionbankofindia.com
    Madurai 1800-208-2244, customercare@unionbankofindia.com
    Meerut 1800-208-2244, customercare@unionbankofindia.com
    Mehsana 1800-208-2244, customercare@unionbankofindia.com
    Mohali Sas Nagar 1800-208-2244, customercare@unionbankofindia.com
    Mumbai 1800-208-2244, customercare@unionbankofindia.com
    Mussoorie 1800-208-2244, customercare@unionbankofindia.com
    Nagpur 1800-208-2244, customercare@unionbankofindia.com
    Nashik 1800-208-2244, customercare@unionbankofindia.com
    Noida 1800-208-2244, customercare@unionbankofindia.com
    Noida Extn. 1800-208-2244, customercare@unionbankofindia.com
    Panipat 1800-208-2244, customercare@unionbankofindia.com
    Patna 1800-208-2244, customercare@unionbankofindia.com
    Pondicherry 1800-208-2244, customercare@unionbankofindia.com
    Pune 1800-208-2244, customercare@unionbankofindia.com
    Raipur 1800-208-2244, customercare@unionbankofindia.com
    Rajkot 1800-208-2244, customercare@unionbankofindia.com
    Ranchi 1800-208-2244, customercare@unionbankofindia.com
    Rohtak 1800-208-2244, customercare@unionbankofindia.com
    Roorkee 1800-208-2244, customercare@unionbankofindia.com
    Salem 1800-208-2244, customercare@unionbankofindia.com
    Shimla 1800-208-2244, customercare@unionbankofindia.com
    Sonepat 1800-208-2244, customercare@unionbankofindia.com
    Surat 1800-208-2244, customercare@unionbankofindia.com
    Trichy 1800-208-2244, customercare@unionbankofindia.com
    Udaipur 1800-208-2244, customercare@unionbankofindia.com
    Vadodara 1800-208-2244, customercare@unionbankofindia.com
    Varanasi 1800-208-2244, customercare@unionbankofindia.com
    Vijaywada 1800-208-2244, customercare@unionbankofindia.com
    Vizag 1800-208-2244, customercare@unionbankofindia.com
Union Bank Home Loan Interest Rate News - Dec 2016
26th May 16 Union Bank of India launches product to facilitate stamp duty and registration on property purchases
Union Bank of India launched e SBTR (Electronic Secured Bank Treasury Receipt), a facility for a single window payment facility of both stamp duty and registration fee for home purchase in Maharashtra. The e SBTR allows payment without any ceiling and is available on 24x7x365 through internet banking. The facility makes it possible to do the necessary paper work and formalities on line and get the endorsement of the final document at the branch level at one go.
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