Union bank of India offers housing loans on floating interest rates or fixed interest rates. The floating interest rates for Union bank of India housing loan is the sum of RBI repo rate, Spread and premium.
At present (wef 11 May 2022) - RBI repo rate is 5.40%. Union bank of India spread is 2.80%
Your premium is based on the below 4 factors
Gender
As a special gesture union bank of india offers interest concessions to women applicants.
CIBIL score
Since CIBIL score reflects the applicant’s borrowing history the high scoring applicants shall have better interest rates
LTV
LTV is the loan to value ratio and is expressed in percentage. The higher LTV ratio shall entitle better interest rates.
Loan amount
As a special gesture Union bank of India offers better interest rates for those borrowers who have lesser loan requirements.
Your housing loan is based on the above factors and the current interest rate in Union bank of India is given below.
Interest rates with effective from 27.10.2021
1. UNION HOME / AWAS: (From 05.09.2023 to 31.03.2024)
A. Floating rate:
The approved rate of interest will be effective for all new Union Home and Union Awas loan customers (including switchover from other Benchmark, viz. MCLR / Base Rate / BPLR to EBLR)
|
Loan Amount
|
CIC Score
|
LTV
|
Government / PSU Employees
|
|
Irrespective of the loan amt
|
750 and above
|
<=90
|
EBLR – 0.90% = 8.40%
|
|
Loan amount
|
CIC Score
|
LTV
|
Applicable ROI category wise
|
|
|
|
|
Salaried/ Professional
|
Non-Salaried
|
|
Male
|
Female
|
Male
|
Female
|
|
Irrespective of Loan amount
|
750 and above
|
As per quantum wise LTV Norms
|
EBLR-0.75% = 8.55%
|
|
From 700
to 749 (Including
-1 & 1 to
5)
|
EBLR-0.10%
= 9.20%
|
EBLR-0.15%
= 9.15%
|
EBLR
= 9.30%
|
EBLR-0.05% =
9.25%
|
|
From 650
to 699
|
EBLR+0.20%
= 9.50%
|
EBLR+0.15%
= 9.45%
|
EBLR+0.25%
= 9.55%
|
EBLR+0.20% =
9.50%
|
|
From 600
to 649
|
EBLR+1.00% = 10.30%
|
|
Below 600
|
EBLR+1.50% = 10.80%
|
* The above benefit of 5 bps concession will be applicable, only if the house is singly/jointly owned by female borrower.
- B. Fixed Rate (for maximum 5 years)
|
Loan Amount
|
Rate of Interest
|
|
Upto Rs.30 Lakh
|
11.40%
|
|
Above Rs.30 Lakh to Rs.50.00 Lakh
|
12.40%
|
|
Above Rs.50 lakh to Rs.200 Lakh
|
12.65%
|
- SMART SAVE:
|
Loan Amount
|
CIC Score
|
LTV
|
Salaried/Professional
|
Non-Salaried
|
|
Male
|
Female
|
Male
|
Female
|
|
| |
|
|
|
|
|
|
|
|
Up to 30 Lakh
|
750 &
Above
|
<=80
|
EBLR + 0.05% = 9.35%
|
|
>80&<=90
|
|
From 700
to 749
|
<=80
|
EBLR + 0.30% =
9.60%
|
EBLR + 0.25%
= 9.55%
|
EBLR + 0.35% = 9.65%
|
EBLR + 0.30% = 9.60%
|
|
|
>80&<=90
|
EBLR + 0.35%
=9.65%
|
EBLR + 0.30%
= 9.60%
|
EBLR + 0.40% = 9.70%
|
EBLR + 0.35% = 9.65%
|
|
|
From 650
to 699
|
<=80
|
EBLR + 0.40% =
9.70%
|
EBLR + 0.35%
= 9.65%
|
EBLR + 0.45% = 9.75%
|
EBLR + 0.40% = 9.70%
|
|
|
>80&<=90
|
EBLR + 0.45% =
9.75%
|
EBLR + 0.40%
= 9.70%
|
EBLR + 0.50% = 9.80%
|
EBLR + 0.45% = 9.75%
|
|
|
From 600
to 649
|
<=80
|
EBLR + 0.95% = 10.25%
|
|
>80&<=90
|
|
Below 600
|
<=80
|
EBLR + 1.45% = 10.75%
|
|
>80&<=9 0
|
|
Above 30 Lakh
|
750 &
Above
|
<=80
|
EBLR + 0.05% = 9.35%
|
|
>80&<=9 0
|
|
From 700
to 749
|
<=80
|
EBLR + 0.40% =
9.70%
|
EBLR + 0.35%
= 9.65%
|
EBLR + 0.45% = 9.75%
|
EBLR + 0.40% = 9.70%
|
|
|
>80&<=9 0
|
EBLR + 0.45% =
9.75%
|
EBLR + 0.40%
= 9.70%
|
EBLR + 0.50% = 9.80%
|
EBLR + 0.45% = 9.75%
|
|
|
From 650
to 699
|
<=80
|
EBLR + 0.50% =
9.80%
|
EBLR + 0.45%
= 9.75%
|
EBLR + 0.55% = 9.85%
|
EBLR + 0.50% = 9.80%
|
|
|
>80&<=9 0
|
EBLR + 0.55% =
9.85%
|
EBLR + 0.50%
= 9.80%
|
EBLR + 0.60% = 9.90%
|
EBLR + 0.55% = 9.85%
|
|
|
From 600
to 649
|
<=80
|
EBLR + 1.10% = 10.40%
|
|
>80&<=9 0
|
|
Below 600
|
<=80
|
EBLR + 1.65% = 10.95%
|
|
>80&<=9 0
|
* The above benefit of 5 bps concession will be applicable, only if the house is singly/jointly owned by female borrower.
- COMMERCIAL REAL ESTATE –
- Residential Housing (CRE-RH) 3rd House: (From 09.2023 to 31.03.2024)
|
Loan Amount
|
CIC Score
|
LTV
|
Government / PSU Employees
|
|
Irrespective of the loan amt
|
750 and above
|
<=90
|
EBLR – 0.65% = 8.65%
|
|
Loan amount
|
CIC Score
|
LTV
|
Applicable ROI category wise
|
|
|
|
|
Salaried/ Professional
|
Non-Salaried
|
|
Irrespective of Loan amount
|
750 and
above
|
As per
quantum wise LTV Norms
|
EBLR-0.50% = 8.80%
|
|
From 700
to 749 (Including
-1 & 1 to 5)
|
EBLR+0.15%= 9.45%
|
EBLR+0.25%= 9.55%
|
|
From 650
to 699
|
EBLR+0.45% = 9.75%
|
EBLR+0.50% = 9.80%
|
|
From 600
to 649
|
EBLR+1.25% = 10.55%
|
|
Below 600
|
EBLR+1.75% = 11.05%
|
- Residential Housing (CRE-RH) 4th House onwards: (From 09.2023 to 31.03.2024)
|
Loan Amount
|
CIC Score
|
LTV
|
Government / PSU Employees
|
|
Irrespective of the loan amt
|
750 and above
|
<=90
|
EBLR – 0.15% = 9.15%
|
|
Loan amount
|
CIC Score
|
LTV
|
Applicable ROI category wise
|
|
|
|
|
Salaried/ Professional
|
Non-Salaried
|
|
Irrespective of Loan amount
|
750 and above
|
As per quantum wise LTV Norms
|
EBLR% = 9.30%
|
|
From 700
to 749 (Including
-1 & 1 to
5)
|
EBLR+0.65%= 9.95%
|
EBLR+0.75%= 10.05%
|
|
From 650
to 699
|
EBLR+0.95% = 10.25%
|
EBLR+1.00% = 10.30%
|
|
From 600
to 649
|
EBLR+1.75% = 11.05%
|
|
Below 600
|
EBLR+2.25% = 11.55%
|