Union Bank of India Union Home Loan
Primary Lending Institution:Union Bank of India
Up to ₹10 Crore home loan at 8.40% – 9.25% with Up to 30 years tenure.
This loan requires the property to be in an approved society/project — self-constructed rural properties often ineligible without formal revenue layout approval.
What is Union Bank of India Union Home Loan?
Competitive housing finance from Union Bank of India linked to EBLR for purchase of ready/under-construction homes or self-construction.
Key Benefits & Features
Special interest rates for CIBIL ≥ 750; customized repayment plans (step-up and balloon options); 5 bps concession for women borrowers.
Property & Project Eligibility Requirements
Approved housing layout with legal title verification by bank legal counsel.
Borrower Eligibility Criteria
Indian citizen, salaried with 2 years service or self-employed with 3 years business history.
How to Apply (3 Verified Paths)
Apply online through net banking portal or visit lending branch with loan inquiry.
Apply online at https://www.unionbankofindia.co.in/english/personal-retail-home-loans.aspx with digital KYC and property details.
Visit nearest branch of the institution with income proofs and sale agreement.
Documents Required Checklist
Aadhaar Card, PAN Card, Last 3 months salary slips or 2 years ITR-V, 6 months bank account statement, Title deed, Approved building plan and municipal tax receipts.
Frequently Asked Questions
What is the maximum loan tenure available for Union Bank of India Union Home Loan?
The maximum repayment tenure offered for Union Bank of India Union Home Loan is Up to 30 years, subject to borrower's age not exceeding 75 years at loan maturity.
What are the processing charges and prepayment rules for Union Bank of India Union Home Loan?
The processing fee is 0.50% (Max ₹15,000) + GST. As per RBI guidelines, zero prepayment penalties apply to all individual floating-rate home loans.
What documents are required to apply for Union Bank of India Union Home Loan?
Applicants must provide KYC (Aadhaar, PAN), 3 months salary slips or 2 years ITR with computation, 6 months bank statements, and clear property title documents with municipal sanctions.
Why does Union Bank of India Union Home Loan require property approval in a formal layout?
This loan requires the property to be in an approved society/project — self-constructed rural properties often ineligible without formal revenue layout approval.