Apply for Union Bank of India Home Loan Balance Transfer

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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.

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

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

Disclaimer

The information and suggestions provided by BFDL hereinabove is related to the Non-Partnered Banks/ NBFCs and is just for the purpose of information and under no circumstances the information provided hereinabove is intended to be source of advice or recommending any financial advice or endorsement of any sort.

The information including interest rates or fees, loan amount and other charges with regard to any product, provided on this website is gathered through publicly available sources over the internet and is considered as accurate and reliable to the best of our knowledge. BFDL disclaims any responsibility or liability regarding inaccuracies, omissions, mistakes etc. as well as offers by the Non-Partnered Banks or NBFCs. The use of information set out is entirely at the User’s own risk and User should exercise due care prior taking of any decision, on the basis of information mentioned hereinabove. You are advised to visit/ contact the respective Banks/ NBFCs to verify the information before making any application or opening an account. Further, BFDL does not undertake any responsibility or liability to update this information. YOU ARE SOLELY RESPONSIBLE FOR ANY LIABILITY OR DAMAGE YOU INCUR THROUGH ACCESS TO OR USE OF THE SITE OR SUCH INFORMATION OR MATERIALS EXCEPT WHERE THE LAWS AND REGULATIONS OF A PARTICULAR JURISDICTION CONCERNING WARRANTIES CANNOT BE WAIVED. Additionally, display of any trademarks, tradenames, logo and other subject matters of intellectual property owners. Display of such Intellectual Property along with the related product information does not imply BFDL’s partnership with the owner of the Intellectual Property of such products.

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.