Union Bank Home Loan-2025
Union Bank housing loan is designed to make home ownership easy and affordable. With attractive interest rates, fast approvals, and simple eligibility criteria, Union Bank home loan is a trusted choice for buying, constructing, or renovating your hous
Union Bank of India, headquartered in Mumbai, is one of the largest government-owned banks in the country. With over 8,400 branches, it provides a wide range of financial services, including home loans.
Union Bank home loan schemes cater to various needs, offering options for salaried individuals, non-salaried professionals and NRIs. With competitive Union Bank home loan interest rates, it is an ideal choice for those looking to turn their dream of owning a home into reality. In this blog, we will discuss the different home loan options, interest rates and benefits offered by Union Bank of India to help you make an informed decision.
Union Bank Home Loan Interest Rates
Union Bank offers competitive interest rates on its home loan schemes. The interest rates may vary based on the specific loan scheme, tenure, type of rate package chosen and the applicant’s profile.
By understanding the interest rates associated with different Union Bank Home Loan schemes and the availability of top-up loans, clients can make informed decisions and choose the most suitable option that aligns with their financial goals and repayment capacity.
Types of Union Bank of India Home Loan
Union Bank of India offers a variety of options tailored to meet different financial needs. Let us explore the different types of home loans available to find the perfect fit for you.
1. Union Home
Union Bank of India provides regular home loans to help you buy a new or old home. You can also get loans for building a house, buying a plot or renovating your current home. These loans can help you finance adding extensions and finishing homes that are still under construction.
Now, let us take a look at the different interest rates applicable to Union Bank home loans.
Floating Interest:
Here is a breakdown of the floating rate package for Union Bank home loans:
| Applicable for Government/PSU Employees | ||
| Loan Amount | CIC Score | Rate of Interest |
| Irrespective of the loan amount | 750 and above | 8.35% |
| Applicable for Salaried and Non-Salaried Professionals | ||
| Loan Amount | CIC Score | Rate of Interest |
| Irrespective of the loan amount | 800 and above | 8.35% |
| Between 750 to 799 | 8.50% | |
| Between 700 to 749 | 9.10% for salaried women | |
| 9.15% for salaried men | ||
| 9.20% for non-salaried women | ||
| 9.25% for non-salaried men | ||
| Between 650 to 699 | 9.40% for salaried women | |
| 9.45% for salaried men & non-salaried women | ||
| 9.50% for non-salaried men | ||
| Between 600 to 649 | 10.25% | |
| Below 600 | 10.75% | |
Fixed Interest
Let us now take a look at the fixed rate package applicable as of 2025:
| Loan Amount | Rate of Interest |
| Up to ₹30 lakh | 11.40% |
| Above ₹30 lakh to ₹50 lakh | 12.40% |
| Above ₹50 lakh to ₹200 lakh | 12.65% |
2. Union Awas
Union Awas is a special home loan scheme designed to help you purchase or construct a house in semi-urban or rural areas. It also provides financial support for repairs, improvements or extensions to existing residential properties in these regions. The interest rates for this scheme are the same as those applicable to Union Bank’s regular home loans.
3. Union Smart Save
Union Smart Save is a home loan with an overdraft facility that allows applicants to deposit surplus amounts into a linked account and withdraw funds as needed. The balance in this account is deducted from the outstanding home loan amount, lowering the overall interest cost for the borrowers.
The given below table highlights the interest applicable to such a home loan scheme.
| Loan Amount | CIC Score | Rate of Interest | |
| Up to ₹30 lakh | 750 and above | 9.30% | |
| Between 700 to 749 | 9.50% to 9.55% for salaried women | ||
| 9.55% to 9.60% for salaried men and non-salaried women | |||
| 9.60% to 9.65% for non-salaried men | |||
| Between 650 to 699 | 9.60% to 9.65% for salaried women | ||
| 9.65% to 9,70% for salaried men and non-salaried women | |||
| 9.70% to 9.75% for non-salaried men | |||
| Between 600 to 649 | 10.20% | ||
| Below 600 | 10.70% | ||
| Above ₹30 lakh | 750 and above | 9.30% | |
| Between 700 to 749 | 9.60% to 9.65% for salaried women | ||
| 9.65% to 9.70% for salaried men and non-salaried women | |||
| 9.70% to 9.75% for non-salaried men | |||
| Between 650 to 699 | 9.70% to 9.75% for salaried women | ||
| 9.75% to 9.80% for salaried men and non-salaried women | |||
| 9.80% to 9.85% for non-salaried men | |||
| Between 600 to 649 | 10.35% | ||
| Below 600 | 10.90% |
Compare the Union Bank Home Loan Interest Rate with Other Lenders
If you plan to take a home loan, it is wise to compare the various rates offered by leading banks and financial institutions. Let us now compare the Union Bank home loan interest rates with those offered by other leading lenders. For more detailed comparison home loan interest rates charged by different banks you can check out the page: Home Loan Interest Rates- 2025
| Name of Lender
|
Up to ₹30 lakh | Above ₹30 lakh to ₹75 lakh | Above ₹75 lakh |
| SBI | 8.50% to 9.85% p.a. | 8.50% to 9.85% p.a. | 8.50%-9.85% p.a. |
| HDFC Bank Limited | 8.70% p.a. onwards | 8.70% p.a. onwards | 8.70% p.a. onwards |
| ICICI Bank | 8.75% p.a. onwards | 8.75% p.a. onwards | 8.75% p.a. onwards |
| Kotak Mahindra Bank | 8.75% p.a. onwards | 8.75% p.a. onwards | 8.75% p.a. onwards |
Union Bank Home Loan Details
Take advantage of the Union Bank of India Home Loan’s enticing features and flexible options when it comes to home loans, ensuring a seamless and affordable home-buying journey.
| Interest Rate | Union Bank offers competitive home loan interest rates ranging from 8.35% to 12.65%, ensuring affordability for all applicants. |
| Loan Amount | Borrowers can take any amount as a loan from the bank, depending on their financial capacity and ability to repay. However, the maximum loan amount for repairs or renovations is capped at ₹30 lakh. |
| Processing Fees | The Union Bank home loan processing charges are set at 0.50% of the loan amount, capped at a maximum of ₹15,000, plus applicable GST. |
| Prepayment/Foreclosure Charges | Union Bank allows prepayment or foreclosure of home loans with minimal charges, including no penalty for loans paid off from verifiable personal sources. However, a 2% takeover penalty applies to the average outstanding balance if the loan is transferred to another bank or settled by a third party. |
| Maximum Tenure | Union Bank provides flexible repayment options for home loans, with a maximum tenure of up to 30 years for property purchases or construction. For repairs and renovations, the repayment period is set at 15 years |
| Rate Packages | Union Bank provides various rate packages, including fixed rate, floating rate and hybrid options, to cater to different client preferences. |
Union Bank of India Home Loan Processing Fees & Charges
When considering a home loan with Union Bank of India, it is important to be aware of the processing fees and charges involved. Here is a table outlining the key processing fees and charges associated with Union Bank home loans.
| Type of Fees & Charges | Amount |
| Processing Fees | 0.50% of the loan amount, subject to a maximum of ₹15,000 + GST |
| Relaxation Charges | 0.10% of the loan amount, subject to a minimum of ₹500 and a maximum of ₹5,000 |
| Documentation Charges | 0.02% subject to a maximum ₹35,000 |
| Pre-Payment Charges | At 2% flat on the loan amount prepaid as on the date of closure of the account |
| Legal & Valuation Charges | For new home loans: As applicable |
| For home loan balance transfer: Waiver of up to ₹10,000 |
Union Bank of India Home Loan EMI Calculator
Finding out the EMI amount you need to pay is crucial when taking a home loan, and an online calculator makes it easy to estimate. The NoBroker Union Bank home loan EMI calculator uses simple details like the loan amount, interest rate and time period to give you quick and accurate results.
By entering these details, you can instantly find out your monthly payments along with average and monthly interest, helping you plan your finances and make informed choices.
Try the NoBroker Union Bank home loan EMI calculator today and take a step closer to owning your dream home!
Union Bank Home Loan Eligibility
To qualify for a home loan, applicants must meet specific criteria, which may vary depending on the loan scheme. The table below highlights the criteria you must fulfil to meet the Union Bank home loan requirements when applying for your loan:
| Type of Loan | Criteria |
| Union Home | Applicants must be Indian citizens or NRIs. |
| The minimum entry age is 18 years, while the maximum exit age is 75 years. | |
| Union Awas | Applicable for residents of rural and semi-urban areas |
| Eligible applicants are permanent employees of schools, colleges and other establishments, as well as good farmers with a regular income of not less than ₹48,000 per annum | |
| The minimum entry age for applicants is 18 years, while the maximum exit age is 75 years | |
| The repayment capacity of applicants will be assessed based on the income certificate issued by the Tehsildar or Mandal Revenue Officer | |
| Union Smart Save | Applicants must be Indian citizens aged 21 years or older |
| Individuals can apply either singly or jointly with family members, such as parents, children or spouses, who have regular sources of income as co-applicants | |
| Siblings, whether brothers or sisters, can also apply as co-applicants, provided the property is jointly owned | |
| Non-Resident Indians (NRIs) are eligible |
Documents Required for Union Bank Home Loan Application
When applying for an Home Loan, you need to submit certain documents. The documentation requirements may vary based on the client type and loan scheme. Once you have met the Union Bank housing loan requirements, you will need to gather the following documents:
| 1. Identity Proof | PAN Card
Aadhaar Card Passport Voter ID Driving Licence |
| 2. Address Proof | Aadhaar Card
Passport Voter ID Utility Bills Rental Agreement |
| 3. Income Proof | Salary slips
Bank statements Income tax returns Audited financial statements for self-employed individuals |
| 4. Property Documents | Sale agreement
Property title deed Approved building plan Property tax receipts |
| 5. Other Documents | Passport-size photographs
Bank statements Employment proof |
Submitting accurate and complete documents is crucial for a smooth loan application process.
How to Apply for Union Bank Home Loan
Applying for a Union Bank home loan is a simple and easy process with NoBroker Home Loan services.. Here is a step-by-step guide to help you apply for a Union Bank home loan with NoBroker:
Step 1: EMI Calculation
Before you plan to apply for an Union Bank home loan, calculate how much you need to pay as EMI or how much you can afford as EMI for the amount you are taking the loan with NoBroker Union Bank Home of India Home Loan EMI Calculator.
Step 2: Check Eligibility
Check your eligibility for Union Bank of India Home Loan using NoBroker Home Loan Eligibility Calculator.
Step 3: Visit the NoBroker Platform:
Go to the NoBroker Home Loan page and select Axis Bank as your preferred lender from the list of available options.
Step 4: Details and Documents
Fill in all the necessary details like name, phone number contact details, income, employment/business details, and the desired loan amount. And Upload the necessary documents, including proof of identity, address, income, property details, and more
Step 5: Submit Application
Once you fill in all the details and required documents, review your application and submit the application .
Step 6: Wait for Verification:
Union Bank of India will verify your application and documents. If there is any additional document required, the representative will contact you.
Step 7: Loan Approval and Disbursement
Once the application is approved, the loan amount will be disbursed to your bank account.
By following these steps, you can complete the Axis Bank Home Loan application process conveniently and efficiently with NoBroker Home Loan services.
How to Repay Union Bank Home Loan?
Repaying your Union Bank home loan is simple and easy, with several flexible payment options to choose from. Here’s how you can repay your home loan seamlessly:
1. Equated Monthly Instalments:
Your home loan can be repaid through Equated Monthly Instalments (EMIs). Under this method, a fixed amount will be debited at the end of the monthly cycle from the bank account you specify. For borrowers engaged in agriculture or allied activities, Equated Quarterly Instalments (EQI) may be allowed as an alternative to EMI.
2. Step-Up Repayment:
This method sets the EMI at a lower amount for the initial months. After this period, the EMI increases to a higher level for the remainder of the loan tenure, making it easier to manage payments early on.
3. Balloon Repayment:
With this option, you start with a lower-than-normal EMI at the beginning of the repayment tenure. At the end of the term, a lump sum amount is due, which is expected to be covered by funds available at that time.
4. Flexible Loan Instalment Plan:
This plan allows you to make adjustments after receiving a lump-sum amount midway through the loan tenure. As a result, the EMI for the remaining period can be set at a lower value than the normal EMI.
5. Bullet Payment:
This option lets you make a lump sum payment during the loan period. After this payment, your EMIs for the rest of the term will be lowered, making them easier to manage.
Union Bank Home Loan Customer Care
If you have any queries or require assistance regarding Union Bank Home Loans, you can reach out to their customer care team. Here are the contact details for Customer Care:
| Toll-Free Number | 1800 22 2244 |
Feel free to contact them for any information or support related to your Home Loan journey.
Conclusion
A home loan presents a great opportunity for individuals to make their dream of owning a home a reality. With attractive Union Bank home loan interest rates, flexible loan options and an extensive range of schemes, the bank caters to the diverse needs of its clients.
By exploring this blog, you have acquired valuable insights into Union Bank’s home loan particulars, including details about interest rates, eligibility criteria, the application process and customer care contacts. Seize the opportunity to leverage the knowledge shared here and begin your journey towards homeownership with Union Bank home loans!
