Union Bank of India Home Loan Balance Transfer

Discover the home loan balance transfer facility offered by UBI on Bajaj Markets

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✓ Home Loan Balance Transfer Facility ✓ Multiple Lending Partners ✓ Interest Rates Starting @ 8.50% Check Offer

You can save substantially, by transferring your home loan to the Union Bank of India (UBI), one of India’s largest public sector banks. By opting for this facility, you can get lower interest rates starting from 8.50% p.a. resulting in lower EMIs and savings on interest charges of the loan. Repay the loan at your convenience over an extended repayment tenure of up to 30 years. Apply for this facility on Bajaj Markets and benefit from a hassle-free online transfer process.

Union Bank of India Home Loan Balance Transfer Interest Rates and Charges

The Union Bank of India Home Loan Balance Transfer interest rates and charges are as follows:

Interest Rate	8.50% onwards
Processing Fee	₹15,000 or 0.50% of the loan amount (whichever is higher) + GST
Prepayment Charges	NIL

*Disclaimer: These rates mentioned above are subject to change at the lender’s discretion.

It is important to check the processing and prepayment charges as they add to your loan costs. However, securing a lower interest rate from your new lender can offset this increase in loan cost. It may enable you to save a huge sum over the loan’s tenure.

Let’s consider a simple example. Assume that you have a home loan of ₹50 Lakhs for a tenure of 20 years. The interest rate charged on this loan is set at 15% p.a. Thus, the EMI you are currently liable to pay amounts to ₹65,839.48. So, how does a balance transfer help in this situation? Check the below table:

Particulars	Current Home Loan Details	Home Loan Details After Transfer
Loan Amount	₹50 Lakhs	₹50 Lakhs
Interest Rate	15% p.a.	8.50% p.a.
EMI Amount	₹65,839.48	₹43,391.16

Consider that when transferring your home loan to the Union Bank of India, you were offered an interest rate of 8.50% p.a. Now, the EMI amount reduces to ₹43,391.16. The lower EMI makes it easier for you to manage the loan and helps you save money on the overall loan costs.

Union Bank of India Home Loan Balance Transfer EMI Calculator

Loan Amount

Tenure

Rate of Interest

Your Monthly Loan EMI

Principal Amount

Total Interest

Total Amount Payable

Amortization Schedule

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Year	EMI	Principal	Interest	Balance

Features and Benefits

Low Interest Rates

Save on EMIs with low interest rates starting from just 8.50% p.a.

Flexible Repayment Tenure

Benefit from extended repayment tenures ranging up to 30 years

Smooth Transfer Process

Enjoy a seamless online transfer process by applying for the facility on Bajaj Markets

No Hidden Charges

Apply for this balance transfer facility without having to pay any hidden charges

Eligibility Criteria and Documents Required

Here is a list of the Union Bank of India Home Loan Balance Transfer eligibility criteria:

Your age must be between 18-75 years
Your net monthly income should be at least ₹15,000 a month if you are salaried

Your minimum Profit After Tax (PAT) must be ₹12,500 per month if you are self-employed

Your credit score is also taken into consideration by your lender to assess your loan eligibility. Keep these documents handy for a smooth application process:

KYC Documents: Aadhaar Card and any one of the following
- PAN card
- Passport
- Driving licence
Bank statements of the last 12 months as income proof
Salary slips of the last 3 months (for salaried applicants)
Certificate and proof of business existence (for self-employed applicants)
Property Documents:
- Original Sale Deed, Title deed, or Share Certificate issued by the society. Any other document conveying ownership shall also be accepted.
- Agreement to sell or allotment letter
- Copy of the plan approved by the local body
- NOC from the builder, developer, or society
- Statutory and regulatory approval of construction of proposed residential unit as per state laws
Form 16 or ITR filings
Duly filled credit information form
2 passport-size photographs

How to Apply?

Here are some simple steps you can follow to apply for this facility on Bajaj Markets:

Click on the ‘Apply Now’ option on this page
Provide your profession, personal and financial details
Choose ‘Union Bank of India’ from the list of lenders
Select the preferred tenure and required loan amount
Click on ‘Submit’
Following this, a representative will reach out to you for further proceedings.

Disclaimer

Reference of all T&C necessarily refers to the terms of the Partners as regards to pre-approved offers and loan processing time amongst other conditions.

Home Loan Balance Transfer Quick Links

Home Loan Quick Links

Calculators

Is it beneficial to transfer my home loan to UBI?

Yes. Similar to loan refinancing, opting for a balance transfer allows you to enjoy lower interest costs on your home loan. You can also lengthen your loan tenure. This enables you to repay the loan as per your convenience.

After transferring my loan to UBI, will the EMI remain constant or change in future?

After the transfer, a new EMI amount will be set and shall remain constant. This is unless you restructure the loan again. This new EMI is decided as per changes in interest rates, tenure, and the balance loan amount.