Union Bank of India Loan Against Property

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Union Bank of India Loan Against Property Highlights
Interest Rate	9.45%-12.10% p.a.
Loan amount	Up to Rs 10 crore
Repayment Tenure	Up to 15 years
Processing Charges	Up to 1% of the loan amount

Note: Rates as of 21 August 2025

Union Bank of India Loan Against Property Interest Rates 

Union Mortgage Interest Rates

For Residential Property (Self-occupied/Tenanted) – Excluding open plots

CIC Score	Interest Rates (p.a.)
800 & above	9.55%
750 to 799	9.75%
700 to 749 -1 & 1 to 5	10.55%
Below 700	11.35%

For Non-Residential property but Self-occupied commercial/industrial; Excluding open Plots

CIC Score	Interest Rates (p.a.)
800 & above	9.95%
750 to 799	10.15%
700 to 749 -1 & 1 to 5	10.95%
Below 700	11.85%

For Non-Residential property which is not self-occupied like Hospital Leased to third Parties, Multi-tenanted Commercial Building- Excluding Open plots.

CIC Score	Interest Rates (p.a.)
800 & above	10.40%
750 to 799	10.60%
700 to 749 -1 & 1 to 5	11.20%
Below 700	12.10%

Special Retail Lending Scheme for Government Employee, SRLGE:

For Residential Property (Self-occupied/Tenanted) – Excluding open plots

CIC Score	Interest Rates (p.a.)
800 & above	9.45%
750 to 799	9.65%
700 to 749 -1 & 1 to 5	10.45%
Below 700	11.25%

For Non-Residential property but Self-occupied commercial/industrial; Excluding open Plots

CIC Score	Interest Rates (p.a.)
800 & above	9.85%
750 to 799	10.05%
700 to 749 -1 & 1 to 5	10.85%
Below 700	11.75%

For Non-Residential property which is not self-occupied like Hospital Leased to third Parties, Multi-tenanted Commercial Building- Excluding Open plots.

CIC Score	Interest Rates (p.a.)
800 & above	10.30%
750 to 799	10.50%
700 to 749 -1 & 1 to 5	11.10%
Below 700	12.00%

Compare Interest Rates on Loan Against Property for Top Banks & HFCs

Name of the Lender	Interest Rate (% p.a.)
State Bank of India	9.20-10.50	Apply Now
Bank of Baroda	10.85-18.35	Apply Now
PNB Housing Finance	9.25-15.00	Apply Now
IDFC First Bank	9.00-16.50	Apply Now
HDFC Bank Limited	9.50-11.00	Apply Now
L&T Housing Finance	9.50 onwards	Apply Now
LIC Housing Finance	9.50-11.55	Apply Now
Godrej Housing Finance	9.75 onwards	Apply Now
ICICI Bank	10.85-12.50	Apply Now
Tata Capital	9.00 onwards	Apply Now
Axis Bank	10.50-10.95	Apply Now
Punjab National Bank	10.15-14.00	Apply Now

Types of Union Bank of India Loan Against Property

Union Mortgage Loan

Purpose: This Loan Against Property facility is offered to borrowers in the age group of 18 to 75 years to meet their personal needs such as higher education, marriages, medical emergencies, business travel, or any unforeseen expenses

Loan Amount:

Minimum: Rs 5 lakhs

Maximum (for resident Indian): Rs 10 crore

Maximum (for non-resident Indians): Rs 5 crore

LTV Ratio: 50% of property value

Union Mortgage (Overdraft facility)

• The sanction limit will reduce every month so that the total principal component is repaid by the end of the loan tenure
• On the basis of actual use of the limit, the interest will be debited every month and be serviced monthly
• Account to be adjusted 5 years prior to the remaining property life

Tenure:

Term Loan: The maximum tenure will be the lowest of the following:

• 15 years
• Residual period till the borrower reaches the age of 75 years
• 5 years prior to the residual life of the property

Overdraft: Maximum tenure: 15 years

Security:

• Residential or Commercial property in the name of the borrower(s)
• Property should be located at metro/urban/Semi-urban areas coming within municipal limits only
• All property co-owner(s) need to jointly apply as co-applicant(s)
• Open Plot or Land is not acceptable

Union Bank of India Loan Against Property Fees & Charges

For Union Mortgage Loan

Processing Fees:

Term Loan	1 % of the loan amount – Minimum Rs 5000; Maximum Rs 1 lakh For Staff Members: 0.25% of the loan amount
Union Mortgage (secured overdraft)	0.25% of loan amount with no minimum charges; Maximum: Rs 1 lakh For Staff: NIL

Eligibility Criteria For Union Bank of India LAP

• Indian citizens (both residents & non-residents) with a steady source of income and non-agricultural (residential, commercial, or industrial) property.
• Minimum age – 18 years; Maximum age – 75 years.
• Individuals may apply individually or jointly with other eligible people.

Documents Required for Union Bank of India Loan Against Property

• Application form and Credit Information
• KYC documents of applicant & co-applicant/guarantor (if any): Identity proof (PAN Card/Passport/Voters ID/Aadhaar etc), Address proof (Passport/Driving License/Aadhaar etc) & 2 passport size photographs (latest)
• Income proof for Salaried: ITR/Form 16 of last 2 years, latest 3 months salary slips, and proof of any other income (in case not mentioned in ITRs/Form 16)
• Income proof for other than Salaried: ITR of last 2 years and proof of other income (in case not mentioned in ITRs/Form 16)
• Last 6 months’ bank statements
• Property documents: Agreement to sell/Allotment letter, Original Sale Deed/Title deed/ advance payment receipts or own contribution receipts, Copy of approved plan by the local body, NOC from Developer/Builder/Society, Statutory and regulatory approval as per state laws, the estimated cost of construction/extension/repairs/renovations
• Additional documents required in case of Take-over from other Bank/Financial Institution:
  • Sanction letter
  • Last 12 months’ statement of account
  • Confidential credit report required from existing bank
• Additional documents in case applicant/co-applicant are NRIs:
  • Employment contract/offer letter
  • Latest work permit
  • Passport copy
  • Local address proof, if any
  • Visa stamped on the passport
  • Identity card issued by current employer
  • The document attested by the respective Indian Embassy in case NRI borrowers execute the power of attorney (POA) abroad

Banks may also ask for additional loan aganist property documents of the applicants based on their credit profiles.