Union Bank Home Loan Highlights | |
Interest Rate (floating) | 8.75% – 10.95% p.a. |
Loan Amount | As per the borrower’s eligibility and caps put on LTV ratio |
Loan Tenure | Up to 30 years |
Processing Charges | 0.50% of loan amount (Maximum Rs 15,000) |
Note: Rates as of 23rd March 2023

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Table of Contents |
Union Bank of India Home Loan Interest Rate
Union Home/Awas
For Loan Amount Up to Rs 30 lakh
Salaried Individuals
CIBIL Score | LTV Ratio | Interest rate (% p.a.) | |
Male | Female | ||
800 and above | Up to 80% | 8.75% | 8.75% |
More than 80% to 90% | |||
750 to 799 | Up to 80% | 8.85% | 8.85% |
More than 80% to 90% | |||
731 to 749 | Up to 75% | 9.00% | 9.00% |
731 to 749 | More than 75% to 80% | 9.35% | 9.30% |
More than 80% to 90% | 9.40% | 9.35% | |
700 to 730
and -1 and 1 to 5 | Up to 80% | 9.35% | 9.30% |
More than 80% to 90% | 9.40% | 9.35% | |
650 to 699 | Up to 80% | 9.45% | 9.40% |
More than 80% to 90% | 9.50% | 9.45% | |
600 to 649 | Up to 80% | 10.00% | 10.00% |
More than 80% to 90% | |||
Below 600 | Up to 80% | 10.50% | 10.50% |
Non-Salaried Individuals
CIBIL Score | LTV Ratio | Interest rate (% p.a.) | |
Male | Female | ||
800 and above | Up to 80% | 8.75% | 8.75% |
More than 80% to 90% | |||
750 to 799 | Up to 80% | 8.85% | 8.85% |
More than 80% to 90% | |||
731 to 749 | Up to 75% | 9.00% | 9.00% |
731 to 749 | More than 75% to 80% | 9.40% | 9.35% |
More than 80% to 90% | 9.45% | 9.40% | |
700 to 730
and -1 and 1 to 5 | Up to 80% | 9.40% | 9.35% |
More than 80% to 90% | 9.45% | 9.40% | |
650 to 699 | Up to 80% | 9.50% | 9.45% |
More than 80% to 90% | 9.55% | 9.50% | |
600 to 649 | Up to 80% | 10.00% | 10.00% |
More than 80% to 90% | |||
Below 600 | Up to 80% | 10.50% | 10.50% |
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For Loan Amount above Rs 30 Lakh
Salaried Individuals
CIBIL Score | LTV Ratio | Interest rate (% p.a.) | |
Male | Female | ||
800 and above | Up to 80% | 8.75% | 8.75% |
More than 80% to 90% | |||
750 to 799 | Up to 80% | 8.85% | 8.85% |
More than 80% to 90% | |||
731 to 749 | Up to 75% | 9.00% | 9.00% |
731 to 749 | More than 75% to 80% | 9.45% | 9.40% |
More than 80% to 90% | 9.50% | 9.45% | |
700 to 730
and -1 and 1 to 5 | Up to 80% | 9.45% | 9.40% |
More than 80% to 90% | 9.50% | 9.45% | |
650 to 699 | Up to 80% | 9.55% | 9.50% |
More than 80% to 90% | 9.60% | 9.55% | |
600 to 649 | Up to 80% | 10.15% | 10.15% |
More than 80% to 90% | |||
Below 600 | Up to 80% | 10.70% | 10.70% |
Non-Salaried Individuals
CIBIL Score | LTV Ratio | Interest rate (% p.a.) | |
Male | Female | ||
800 and above | Up to 80% | 8.75% | 8.75% |
More than 80% to 90% | |||
750 to 799 | Up to 80% | 8.85% | 8.85% |
More than 80% to 90% | |||
731 to 749 | Up to 75% | 9.00% | 9.00% |
731 to 749 | More than 75% to 80% | 9.50% | 9.45% |
More than 80% to 90% | 9.55% | 9.50% | |
700 to 730
and -1 and 1 to 5 | Up to 80% | 9.50% | 9.45% |
More than 80% to 90% | 9.55% | 9.50% | |
650 to 699 | Up to 80% | 9.60% | 9.55% |
More than 80% to 90% | 9.65% | 9.60% | |
600 to 649 | Up to 80% | 10.15% | 10.15% |
More than 80% to 90% | |||
Below 600 | Up to 80% | 10.70% | 10.70% |
Union Bank Home Loan Fixed Rates (for up to 5 years)
Loan Amount | Rate of Interest (p.a.) |
Up to Rs. 30 Lakh | 11.40% |
Rs. 30 Lakh – Rs. 50 Lakh | 12.40% |
Rs. 50 Lakh – Rs. 2 Crore | 12.65% |

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Union Bank Smart Save Home Loan
For Loan Amount Up to Rs 30 lakh
Salaried Individuals
CIBIL Score | LTV Ratio | Interest rate (% p.a.) | |
Male | Female | ||
750 and above | Up to 80% | 9.35% | 9.35% |
More than 80% to 90% | |||
700 to 749 | Up to 80% | 9.60% | 9.55% |
More than 80% to 90% | 9.65% | 9.60% | |
650 to 699 | Up to 80% | 9.70% | 9.65% |
More than 80% to 90% | 9.75% | 9.70% | |
600 to 649 | Up to 80% | 10.25% | 10.25% |
More than 80% to 90% | |||
Below 600 | Up to 80% | 10.75% | 10.75% |
Non-Salaried Individuals
CIBIL Score | LTV Ratio | Interest rate (% p.a.) | |
Male | Female | ||
750 and above | Up to 80% | 9.35% | 9.35% |
More than 80% to 90% | |||
700 to 749 | Up to 80% | 9.65% | 9.60% |
More than 80% to 90% | 9.70% | 9.65% | |
650 to 699 | Up to 80% | 9.75% | 9.70% |
More than 80% to 90% | 9.80% | 9.75% | |
600 to 649 | Up to 80% | 10.25% | 10.25% |
More than 80% to 90% | |||
Below 600 | Up to 80% | 10.75% | 10.75% |
For Loan Amount above Rs 30 lakh
Salaried Individuals
CIBIL Score | LTV Ratio | Interest rate (% p.a.) | |
Male | Female | ||
750 and above | Up to 80% | 9.35% | 9.35% |
More than 80% to 90% | |||
700 to 749 | Up to 80% | 9.70% | 9.65% |
More than 80% to 90% | 9.75% | 9.70% | |
650 to 699 | Up to 80% | 9.80% | 9.75% |
More than 80% to 90% | 9.85% | 9.80% | |
600 to 649 | Up to 80% | 10.40% | 10.40% |
More than 80% to 90% | |||
Below 600 | Up to 80% | 10.95% | 10.95% |
Non Salaried individuals
CIBIL Score | LTV Ratio | Interest rate (% p.a.) | |
Male | Female | ||
750 and above | Up to 80% | 9.35% | 9.35% |
More than 80% to 90% | |||
700 to 749 | Up to 80% | 9.75% | 9.70% |
More than 80% to 90% | 9.80% | 9.75% | |
650 to 699 | Up to 80% | 9.85% | 9.80% |
More than 80% to 90% | 9.90% | 9.85% | |
600 to 649 | Up to 80% | 10.40% | 10.40% |
More than 80% to 90% | |||
Below 600 | Up to 80% | 10.95% | 10.95% |

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Union Ashiyana Personal Loan Scheme
Scheme | CIBIL Score | Interest Rate (p.a.) |
Union Ashiyana- Salaried | 700 and above Below 700 | 11.80% 12.05% |
Union Ashiyana- Non-Salaried | 700 and above Below 700 | 12.30% 12.55% |
Union Ashiyana Overdraft Scheme
Scheme | CIBIL Score | Interest Rate (p.a.) |
Union Ashiyana Overdraft- Salaried | 700 and above Below 700 | 11.00% 11.35% |
Union Ashiyana Overdraft- Non-Salaried | 700 and above Below 700 | 11.05% 11.40% |
Compare Union Bank of India Home Loan Interest Rates with Other Lenders
Name of Lender | Up to Rs. 30 Lakh | Above Rs. 30 Lakh to Rs. 75 Lakh | Above Rs. 75 Lakh |
SBI | 8.50% - 10.15% | 8.50% - 10.05% | 8.50% - 10.05% |
HDFC | 8.50% - 10.35% | 8.50% - 10.60% | 8.50% - 10.70% |
LIC Housing Finance | 8.45% – 10.10% | 8.45% – 10.30% | 8.45% – 10.50% |
ICICI Bank | 9.00%-9.80% | 9.00%-9.95% | 9.00%-10.05% |
Kotak Mahindra Bank | 8.85% onwards | 8.85% onwards | 8.85% onwards |
PNB Housing Finance | 8.50% - 14.50% | 8.50% - 13.00% | 8.50%-10.85% |
Punjab National Bank | 8.65%-9.60% | 8.60%-9.50% | 8.60%-9.50% |
Bank of Baroda | 8.50% - 10.65% | 8.50% - 10.65% | 8.50% - 10.90% |
Union Bank of India | 8.75% – 10.75% | 8.75% – 10.95% | 8.75% – 10.95% |
IDFC First Bank | 8.85% onwards | 8.85% onwards | 8.85% onwards |
L&T Housing Finance | 8.65%-8.75% | 8.65%-8.75% | 8.65%-8.75% |
Bajaj Housing Finance | 8.70% onwards | 8.70% onwards | 8.70% onwards |
Tata Capital | 8.95% onwards | 8.95% onwards | 8.95% onwards |
Federal Bank | 10.15%-10.20% | 10.20%-10.25% | 10.25%-10.30% |
Union Bank of India Home Loan Processing Fees & Charges
Particulars | Charges |
Processing fees | 0.50% of loan amount (Maximum Rs 15,000) |
Legal & Valuation Charges | For new home loans: As applicable For home loan balance transfer: Waiver of up to Rs.10,000 |
Stamp Duty/ CERSAI/ Memorandum Registration Charges | As per actuals |
Prepayment charges | For floating rate home loans: No charges For fixed rate home loans:
|
Compare the home loan processing fee of top lenders
Types of Union Bank of India Home Loan
Union Home Loan
This regular home loan scheme can be used for the following purposes:
Purpose:
- For purchase of new/old dwelling unit and construction of house/flat
- For plot purchase and construction of house on the same
- For repair and renovation of existing home properties, addition in existing dwelling unit and extension of existing home
- For home loan balance transfer at lower interest rates
- Completion of residential property under construction
Loan Amount:
- As per the repayment capacity of the borrower
- For repair/renovation: Up to Rs 30 lakh
LTV Ratio:
Loan Amount up to Rs 30 lakh | Up to 90% of total purchase cost |
Loan Amount Above Rs 30 lakh | Up to 80% of total purchase cost |
Repair/renovation | Up to 80% of total cost |
Tenure:
- For purchase/construction: Up to 30 years
- For repair/renovation: Up to 15 years

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Union Awas
Purpose:
- Special home loan scheme for purchasing or constructing houses in rural/semi-urban areas
- Also allowed for carry out repair/improvement/extension of existing dwelling units in rural or semi-urban areas
Loan Amount:
- For construction/purchase: Up to Rs 10 lakh (semi-urban); Up to Rs 7 lakh (rural)
- For repair/improvement: Up to Rs 5 lakh (semi urban and rural)
LTV Ratio:
- Up to 90% of total cost of purchase/construction
- Up to 80% of total cost of repair/improvement
Tenure:
- For purchase/construction: Up to 30 years
- For repair/renovation: Up to 15 years

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Union Home-Smart Save
Purpose: Home loan with overdraft facility for purchase/construction of flat/house
Loan Amount: As per borrower’s eligibility
Pradhan Mantri Awas Yojna (PMAY)
Purpose: For purchase/construction of a new house/flat, for repair/renovation/extension/addition for Economically Weaker Sections, Lower Income Groups and Middle Income Groups
Loan Amount:
- Up to Rs 30 lakh as per the borrower’s eligibility
- Up to Rs 6 lakh where self declaration applicant is considered as income proof
Note: Interest subsidy 6.5% is provided for loan amount up to Rs 6 lakh. Loan amount above Rs 6 lakh will be at normal interest rate.
Union Ashiyana Personal Loan Scheme
Purpose: To meet the personal expenses of existing and fresh home loan borrowers
Loan Amount: Up to Rs 15 lakh
Tenure: Up to 7 years
Union Ashiyana Overdraft Scheme
Purpose: Home Loan overdraft for personal or business needs of home loan borrowers or repayment of high cost loans
Loan Amount: Up to Rs 20 lakh
Tenure:
- Retirement age of salaried applicants and up to 65 years for non-salaried applicants
- Overdraft account should be closed along with the home loan account

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Eligibility Criteria for Union Bank Home Loan
For Union Home Loan
- Indian citizens and NRIs
- Age: 18-75 years
For Union Awas
- Rural and semi-urban residents
- Age: 18-75 years
- Permanent employees of schools/colleges/other establishment and good farmers with regular income not less than Rs 48,000 p.a.
- Repayment capacity to be assessed by the certificate issued by Tehsildar/Manal Revenue Officer
PMAY
- Age: 21-70 years
- Resident Indian, NRIs, Person of Indian Origin, Overseas Citizenship of India
- Economically Weaker Sections with household income less than Rs 3 lakh p.a. and Low Income Groups with household income Rs 3 lakh-Rs 6 lakh
- The borrower or his family should not own a pucca house anywhere in the country
- The borrower/family should not be a part of any other component of Pradhan Mantri Awas Yojna
- The property to be purchased should be in statutory towns as per census 2011
Union Ashiyana
- The applicant should be a new or existing home borrower
- Age: 18-retirement age for salaried; 18-65 years for non-salaried
- The Union Ashiyana Personal Loan will be sanctioned along with home loan for new applicants but will be disbursed only after possession/completion of property and perfection of security
- Existing home loan borrowers should have a satisfactory repayment record
Union Ashiyana Overdraft
- Applicant should be new/existing home loan borrower
- Age: 18-retirement age for salaried; 18-65 years for non-salaried
- For applicants with balance transfer home loans, loan is sanctioned along with the housing loan
Also check home loan eligibility of top 10 home loan lenders
Documents Required for Union Bank of India Home Loan
- Duly filled application form and credit information
- KYC documents- ID proof, address proof, passport size 2 photographs
- For Salaried: Last 2 year ITR/Form 16, latest 3 salary slips and proof of any other income
- For other than Salaried: Last 3 years ITR and [roof of any other income
- Bank statement for last 6 months
In case of takeover of loans from other financial institution-
- Sanction letter
- Last 12 months account statement
- List of documents on the letter head of financial institution
- Authority letter from the bank or financial institution to directly handle over the security
- documents to the Union Bank authorized officials
In case the applicant is an NRI
- Latest work permit
- Passport copy
- Local address proof
- VISA stamp on passport
- ID card issued by current employer
- Offer letter or employment contract
Know more about the home loan documents required for top lenders

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Union Bank of India Home Loan EMI Calculator
Monthly EMI ₹ 15,622
Total Amount Payble ₹ 5,62,395(Principal + interest)
Principal Amount ₹ 5,00,000
Total Interest Payble ₹ 62,395

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FAQs
1. Can I choose between fixed and floating interest rates?
Ans. Yes, Union Bank of India offers home loans at both fixed and floating rates. However, the interest rates of its fixed rate home loans are much higher than its floating rate home loans.
2. Can I prepay my home loans availed from Union Bank of India?
Ans. Yes, you can prepay your home loans availed from Union Bank of India. However, the bank does not charge any prepayment fees for home loans.
3. What is the moratorium period for Union Home Loans?
Ans. The moratorium period for Union Home Loans availed for purchase/construction is up to 3 years. For home loans availed for repair/renovation, the moratorium period can go up to 1 year. In case of composite home loans (i.e. loan availed for plot purchase and house construction thereon, the moratorium period can go up to 4 years from the date of first loan disbursement of the plot loan or up to the period allowed by Development Authority from the date of plot purchase, whichever is earlier.
4. Does Union Bank of India offer preferential interest rates on home loans to women applicants?
Ans. Yes, Union Bank of India offers concession of 5 bps on home loan interest rates to its women applicants.
5. Is it mandatory to have a co-applicant while applying for Union Bank Home Loans?
Ans. No, it is not mandatory to have a co-applicant while applying for Union Bank Home Loans. The applicants can apply singly or jointly for home loans.
6. What is the minimum credit score required to avail home loans from Union Bank of India?
Ans. Union Bank of India has not specified the cut-off credit score for home loan applicants. However, the bank offers lower interest rates to applicants with higher credit scores. For example, home loan applicants having credit scores of 800 and above are offered lowest interest rates following those having credit scores of 750-799, 700-749, 650-699, 600-649 and below 600.