Union Bank of India (UBI) Home Loan Features & Benefits

Union Bank of India (UBI) Home Loan offers attractive interest rates from 6.80% p.a. The bank has kept separate schemes for different purposes. Whether you are planning to purchase an apartment or apply for a loan to renovate the house, Union Bank of India (UBI) Home Loan has easy repayment facilities within 15 years to 30 years span. There is no limit on the loan amount. The bank releases the loan amount depending on the applicant’s repayment capacity.

1. Loan Amount: The Union Bank of India’s home loan varies depending upon an individual’s eligibility. Nature of work, income, credit score, etc. are some of the factors that help in determining the eligibility of an individual

2. Attractive Interest Rate: Ensuring to keep your EMIs affordable, Union Bank of India offers an interest rate of as low as $$Bank name -home-Loan-for-salaried-self-employed$$

3. Prepayment/Foreclosure Charge: In case the interest rate of your home loan from Union Bank of India is floating, there are no prepayment/foreclosure charges involved. However, if the interest rate is fixed, the charges may go up to the 2%

4. Processing Fee: To save you from the heavy additional charges, Union Bank of India has kept the processing fee on a home loan minimum as it starts from 0.50% of the loan amount

5. Digital Application Process: To save you from the hassle of standing in a queue at the bank’s branch, Union Bank of India allows all its customers to apply for a home loan online

6. Flexible Tenure: Union Bank of India offers a long tenure that goes up to 30 years on a home loan. The tenure is flexible and can be selected by the borrower as per his repayment ability

7. Balance Transfer Facility:  To save your money, Union Bank of India allows all the home loan borrowers to transfer their existing home loan from a bank or NBFC to Union Bank of India for better interest rates

8. Documentation: You can upload all the documentation required to apply for the Union Bank of India Home Loan online as the documentation process is digital