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Union Bank of India Home Loan

PSU Bank

Union Bank of India offers home loan rates starting at 7.15%, matching Canara Bank and Bajaj Housing for the lowest entry in our tracked set. Post the 2020 three-way merger, its branch network spans the entire country.

7.15%

Starting rate

9.50%

Max rate

0.50% of loan (max ₹15,000)

Processing fee

30 yrs

Max tenure

Rates as of 2026-04-16. RBI repo rate 5.25%. Best available new-customer rate across all tracked lenders: 7.15%.

Already have a Union Bank of India home loan?

If your current Union Bank of India rate is above 7.15%, you are paying more than what Union Bank of India is offering new customers today. The gap could be anywhere from 50 to 235 basis points depending on when you took the loan and which benchmark it is on.

Check my overpayment Rate reset letter for Union Bank of India

Products offered

Union Home Loan
Union Balance Transfer
Union Plot Loan

Best for: Salaried applicants with 800+ CIBIL looking for PSU rates tied with Canara Bank at the 7.15% entry level.

Strengths and weaknesses

+ Entry rate of 7.15% tied for the lowest among all tracked lenders.

+ Processing fee capped at ₹15,000.

+ Pan-India branch network after the 2020 merger with Andhra Bank and Corporation Bank.

- Post-merger integration means some branches are still streamlining processes.

- Limited digital-first features compared to SBI.

Rate reset at Union Bank of India

Union Bank processes rate reset requests through the home loan branch. The conversion fee is typically 0.50% of outstanding, capped at ₹15,000.

Get the rate reset letter template

Balance transfer friction

Low friction

Leaving Union Bank of India for a balance transfer is straightforward. Foreclosure letters are issued within a reasonable timeline and no foreclosure fee applies on floating-rate loans (RBI 2012 circular).

Read the foreclosure charges guide

Union Bank of India home loan at a glance

Lender type	PSU Bank
Headquarters	Mumbai
Regulator	RBI
Floating rate range	7.15% to 9.50% (EBLR-linked)
Processing fee	0.50% of loan (max ₹15,000)
Max tenure	30 years
Max loan amount	No upper limit
Prepayment charge	Nil on floating rate
Balance transfer friction	low
Official website	www.unionbankofindia.co.in

Data as of 2026-04-16. Rates are for salaried borrowers with CIBIL 750+. Verify with Union Bank of India for profile-specific quotes.

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