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Compare Union Bank of India vs Allahabad Bank Home Loan

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Bank
Interest Rate
Interest Rate
8.25% - 8.35%
8.25% - 8.85%
Processing Fees
Processing Fees
Upto 0.50%
Max ₹ 15,000
Upto 0.40%
Max ₹ 50,000
Maximum Loan Amount
Maximum Loan Amount
₹ 5 Cr
₹ 10 Cr
Maximum Tenure
Maximum Tenure
30 Years
20 Years
Lowest EMI Per Lakh
Lowest EMI Per Lakh
₹ 751
₹ 852
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
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Compare Home Loan EMI of Union Bank of India and Allahabad Bank

Loan Amount Union Bank of India Allahabad Bank
₹ 10 Lakh ₹ 7,513 ₹ 8,521
₹ 25 Lakh ₹ 18,782 ₹ 21,302
₹ 30 Lakh ₹ 22,538 ₹ 25,562
₹ 50 Lakh ₹ 37,563 ₹ 42,603

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

Union Bank of India offers lower Home Loan EMI at ₹ 751 on a Home Loan for 30 Years as compared to Allahabad Bank with a minimum EMI of ₹ 852 for 20 Years. Average customer ratings for Union Bank of India is currently at /5.0 which makes it a good choice for taking a Home Loan.

How does Allahabad Bank Home Loan compare with Union Bank of India Home Loan?

It is important to do a detailed comparison of Allahabad Bank and Union 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 Allahabad Bank and Union Bank of India Home Loan is 8.25%. 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, Allahabad Bank charges a lower processing fees of 0.40% of the loan amount vs Union Bank of India with a processing fees of 0.50% of loan amount.
  • Allahabad Bank is a with its Home Loan rates benchmarked to RLLR. On the other hand, Union 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.
  • Allahabad Bank has an average customer ratings of 2.5, while has an average customer rating of , based on which it is clear that Allahabad Bank 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 – Allahabad Bank or Union Bank of India?

The lowest interest rate for both Allahabad Bank and Union Bank of India on Home Loan currently starts from 8.25%, and hence, both banks are a good choice for potential borrowers.

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Home Loan News - May 2022
  • 2022-05-13 : South Indian Bank Posts all-time High Net Profit in Q4
    The Bank has posted an all-time high net profit of ₹272 crores for Q4 in FY 22 against ₹6.79 crores during the corresponding period of the previous year.
  • 2022-05-13 : Ujjivan Small Finance Bank Profit Falls by 7% for Q4
    The bank has reported a 7 percent fall in its net profit to Rs 126.5 crore. Earlier, the bank had posted a net profit of Rs 136 crore in the same quarter of the preceding fiscal year 2020-21.
  • 2022-05-03 : HDFC Profit Rises by 16% for Q4 of FY 2022
    Housing Development Finance Corporation has reported a 16% year-on-year rise in its standalone net profit for the March quarter to Rs 3,700 crore on the back of strong growth in loans and net interest income (NII).
  • 2022-05-02 : HDFC Increase Interest Rates on Home Loans
    The lender has hiked the lending rates by 5 basis points for existing customers. The adjustable-rate home loans for new customers with a credit score of above 750, however, will continue to be 6.70 percent.
  • 2022-05-02 : Union Bank Becomes the First Public Sector Bank to Go Live on Account Aggregator Framework.
    The Account Aggregator Framework has linked 332,000 accounts and has fulfilled over 310,000 consent requests since it has gone live. AA ensures swift data sharing with the consent of the user and eliminates the need for physical documents.
*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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