I learned about the current home loan interest rates Union Bank of India during my last visit there. The rate of interest is different based on the loan amount, loan tenure, Credit Information Company or CIC score and other aspects. On average, it starts at around 8.35%.
What is the Home Loan Rate in Union Bank of India?
There has been the latest update about the home loan interest of union bank of india in January. The interest rates differ based on the
Loan amount
CIC score
Category of applicants
Tenure and other factors
Here is a list to help you understand the interest rate that has been effective in Union Bank of India against its home loans since January 20, 2024:
Government or PSU Employees:
Loan Amount |
CIC Score |
Interest Rate |
For any amount |
750 and above |
EBLR – 0.90% = 8.35% |
Salaried/Professional and Non-Salaried:
Loan amount |
LTV |
CIC Score |
Interest Rate |
Any Loan Amount |
As per quantum wise LTV Rules |
800 & above |
EBLR-0.90% = 8.35% |
750 to 799 |
EBLR-0.75% = 8.50% |
||
From 700 to 749 (Including -1 & 1 to 5) |
9.10% to 9.20% (as per male or female category) |
||
From 650 to 699 |
9.45% to 9.45% (as per male or female category) |
||
From 600 to 649 |
EBLR+1.00% = 10.25 |
||
Below 600 |
EBLR+1.50% = 10.75 |
You can know about the interest rates precisely by visiting their official website or their
Home Loan Interest PDF. In case you find this difficult to understand, visit your nearest Union Bank of India branch and ask the loan executives to help you.
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My friend suggested I take a home loan from the Union Bank of India, as they lend money at a low interest rate. This month, I visited the bank to ask about the UBI home loan interest rate and learned that the interest rate will be revised. The new interest rate on lending based on the marginal cost of funds has become applicable as of July 11, 2023, and will continue until August 10, 2023. You must be aware of what is Union Bank of home loan interest currently if you are really interested in availing a loan from here.
What is the current interest rate for home loan in UBI?
The current home loan interest rates in UBI is as follows-
| Types | Proposed MCLR |
Overnight MCLR |
7.90% |
1 month MCLR |
8.05% |
3 Months MCLR |
8.25% |
6 Months MCLR |
8.45% |
1 year MCLR |
8.65% |
2 year MCLR |
8.85% |
3 year MCLR |
9.00% |
What is the eligibility criteria to apply for a home loan in UBI?
Here is the set of criteria you must follow to apply for a home loan in UBI-
The applicant must be an Indian citizen or an NRI
He or she must be at least 18 years old and under the age of 75.
People may apply singly or jointly
This is the latest ubi home loan interest rate and eligibility criteria I was told by the bank officials. You should verify these details again while applying for a home loan in UBI.
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What is Union Bank of India Home Loan Interest?
Satabdi
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2023-07-25T10:16:58+00:00 2023-07-25T10:24:00+00:00Comment
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