Compare Union Bank of India vs SBI Home Loan
Compare Home Loan EMI of Union Bank of India and SBI
| Loan Amount | Union Bank of India | SBI |
|---|---|---|
| ₹ 10 Lakh | ₹ 7,618 | ₹ 7,373 |
| ₹ 25 Lakh | ₹ 19,046 | ₹ 18,431 |
| ₹ 30 Lakh | ₹ 22,855 | ₹ 22,118 |
| ₹ 50 Lakh | ₹ 38,092 | ₹ 36,863 |
Which is a better bank for Home Loan – SBI or Union Bank of India?
SBI offers lower Home Loan EMI at ₹ 737 on a Home Loan for 30 Years as compared to Union Bank of India with a minimum EMI of ₹ 762 for 30 Years. Average customer ratings for SBI is currently at 4.2/5.0 which makes it a good choice for taking a Home Loan.
How does SBI Home Loan compare with Union Bank of India Home Loan?
It is important to do a detailed comparison of SBI 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:
Which bank offers a lower interest rate on Home Loan – SBI or Union Bank of India?
As per the current rates, SBI offers a lower interest rate of 8.05% on Home Loan when compared to Union Bank of India which offers a Home Loan at 8.40%.
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- 2022-08-18 : HDFC bank opens its first all women branch in Kerela`s kozhikode.
HDFC has opened its first all-women branch in Kozhikode. The branch, located in Cherootty Road, the hub of traders in the district, will have 4 women bankers. HDFC Bank is driving diversity and inclusion within the organization with a special focus on enhancing gender diversity. - 2022-08-18 : CCI`s nod to the merger of HDFC Bank, HDFC Ltd.
The Competition Commission of India (CCI) has approved the proposal of merger of HDFC Bank and HDFC Ltd. Commission`s positive response to the combination involving amalgamation of HDFC Limited, HDFc Bank, HDFC Investments and HDFC Holdings. - 2022-08-17 : Hike in lending rate will affect SBI’s Home Loan EMIs.
State Bank of India raised its marginal cost of funds based lending rate (MCLR) by 20 basis points (bps) across tenures. MCLR for one year is now at 7.70% compared to 7.50% previously. Since April 2022, the country’s largest bank has cumulatively hiked MCLR by 70 basis points. The bank has also increased its repo-linked lending rate (RLLR) and external benchmark lending rate (EBLR) by 50 bps to 7.65%. - 2022-08-09 : HDFC hikes MCRL by upto 10 bps on all loan tenures.
With the effect of the 50bps hike by RBI in key policy rates, private sector lender HDFC increased its marginal cost of funds-based lending rates on loans across all tenures by upto 10 basis points. The one-year MCLR will now be 8.10% compared to 8.00% previously. - 2022-08-09 : Hike in lending rate by 25 basis points, home loans to be costlier.
HDFC ltd. announced an increase in its benchmark lending rate by 25 basis points, a move that is likely to make loans dearer for both existing and new borrowers. The best home loans will be available at 7.8% compared to 7.55% previously. The move came after the RBI hiked the lending rate by 50 bps to 5.40% in its effort to cool down rising inflation.
