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Compare Bank of India vs United Bank of India Home Loan

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Bank
Interest Rate
Interest Rate
6.95% - 7.15%
6.95% - 7.75%
Processing Fees
Processing Fees
Upto 0.25%
Min ₹ 1,500; Max ₹ 20,000
Upto 0.59%
Min ₹ 1,180; Max ₹ 11,800
Maximum Loan Amount
Maximum Loan Amount
₹ 5 Cr
₹ 3 Cr
Maximum Tenure
Maximum Tenure
30 Years
30 Years
Lowest EMI Per Lakh
Lowest EMI Per Lakh
₹ 662
₹ 662
Benchmark Rate (Check Rates)
Benchmark Rate (Check Rates)
RLLR
RLLR
Minimum Age
Minimum Age
21 Years
21 Years
Maximum Age
Maximum Age
65 Years
65 Years
For Women
For Women
N
N
Overdraft Facility
Overdraft Facility
N
N
Customer Ratings (Read Reviews)
Customer Ratings (Read Reviews)
2.5/5.0
3.5/5.0
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Compare Home Loan EMI of Bank of India and United Bank of India

Loan Amount Bank of India United Bank of India
₹ 10 Lakh ₹ 6,619 ₹ 6,619
₹ 25 Lakh ₹ 16,549 ₹ 16,549
₹ 30 Lakh ₹ 19,858 ₹ 19,858
₹ 50 Lakh ₹ 33,097 ₹ 33,097

Which is a better bank for Home Loan – Bank of India or United Bank of India?

Bank of India and United Bank of India have the same interest rate on Home Loan, starting from 6.95%. Lowest EMI of Bank of India is ₹ 662 for a maximum tenure of 30 Years. Lowest EMI of United Bank of India is ₹ 662 for a maximum tenure of 30 Years.

How does Bank of India Home Loan compare with United Bank of India Home Loan?

It is important to do a detailed comparison of Bank of India and United Bank of India on all loan terms and conditions to understand their differences and make an informed decision. Keep in mind that each bank’s scheme has its pros and cons that have to be evaluated before choosing the best offer. Some of the key results of the comparison between the two banks are:

  • Lowest Interest rate of Bank of India and United Bank of India Home Loan is 6.95%. Hence, both banks are at par in terms of interest rates on Home Loan.
  • When compared on other Home Loan charges such as processing fees, Bank of India charges a lower processing fees of 0.25% of the loan amount vs United Bank of India with a processing fees of 0.59% of loan amount.
  • Bank of India is a with its Home Loan rates benchmarked to RLLR. On the other hand, United Bank of India is a with its home loan rates benchmarked to RLLR. Hence, both banks are benchmarked to the same rate, making them a comparable option to choose from.
  • United Bank of India has an average customer ratings of 3.5, while Bank of India has an average customer rating of 2.5, based on which it is clear that United Bank of India has a high customer service focus, an easy Home Loan process and a quick turnaround.

Which bank offers a lower interest rate on Home Loan – Bank of India or United Bank of India?

The lowest interest rate for both Bank of India and United Bank of India on Home Loan currently starts from 6.95%, and hence, both banks are a good choice for potential borrowers.

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Home Loan News - Sep 2021
  • 2021-09-14 : DCB Bank Revises MCLR Rate
    DCB Bank has revised the Marginal Cost of Funds Lending Rate (MCLR) for different tenures. Now, the one-year and six-month MCLR are 9.02%. Three-months MCLR is at 8.77%, one month and overnight MCLR is 8.07%.
  • 2021-09-10 : Kotak Mahindra Bank Cuts Home Loan Interest Rate
    Kotak Mahindra Bank has reduced the home loan interest rate by 15 basis points (bps), ahead of the festive season. Currently, the minimum rate of interest is 6.50%, the special rate is applicable from 10 September 2021 to November 8, 2021.
  • 2021-09-07 : LIC Housing Finance Partners with IPPB for Home Loans
    India Post Payments Bank (IPPB) and LIC Housing Finance announced a strategic partnership for providing home loan products to over 4.5 crore customers of IPPB. IPPB will make LICHFL home loan products accessible to its customers pan-India.
  • 2021-09-06 : Bank of Baroda is offering a promising home loan
    Bank of Baroda is offering attractive offers on home loans. The lender is offering lower interest rates and longer tenure. A borrower can loan approved within 30 minutes digitally.
  • 2021-09-01 : Mortgage lending has increased GDP by 11%
    National Housing Bank has informed that mortgage lending in India has increased India’s Gross Domestic Product (GDP) by 11%, an economy worth Rs 27 trillion. 65% of the loans are provided by banks and the rest 35% by NBFCs.
*Terms and conditions apply. Credit at sole discretion of lender, which is subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and collected from public sources. Read More
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