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.
