Home Loan EMI is a fixed sum that you pay to Union Bank of India towards reimbursement of credit taken. The EMI is paid monthly on a fixed day till your Home Loan is completely paid off.
Union Bank Home Loan EMI
Union Bank of India offers Home Loans with loan tenure up to 30 years, and the most minimal EMI offered by the bank is Rs. 741 for every lakh. The lowest interest rate offered by Union Bank of India on a home loan is 8.25% and is one of the most well-known home loans in India.
Eligibility Factors for Union Bank of India Home Loan
- Applicant’s Age: Age to apply for the home loan from Union Bank of India is between 21-60 years.
- Candidate’s Income: Income helps in deciding your ability to reimburse the loan. Union Bank of India gives the home loan to just those whose minimum net salary income is Rs.25000.
- Amount of loan: Applicants can apply for Home Loan in Union Bank of India with a minimum loan amount of Rs. 1,500,000 and up to the most extreme amount of Rs. 50,000,000.
- Loan Period: The more extended tenure you pick, the more is your Home Loan eligibility. Union Bank of India gives you home loans for a period of up to 360 months.
Read More – How to Make the Best Use of SBI Personal Loan
Benefits of Using Union Bank of India Home Loan EMI Calculator
Manually calculating the EMI of the home loan is tedious. Manual calculation results in some mistakes, yet the result given from the online EMI calculator is exact and instant. Utilizing the EMI calculator will produce the result within seconds and make it simpler to process your loan for housing EMIs. This encourages you to get the information on interest to be paid according to the tenure and loan amount. After getting relevant data, you can able to make wise decisions on your home loan. You can even negotiate with the lender and fix a better rate of interest.
The Most Effective Method to Apply for a Home Loan with Union Bank of India:
The Union Bank of India’s home loan approval and verification process is basic and a lot faster for the existing Union Bank of India users. The application procedure is distinctive for new users. The borrower needs to either apply online or legitimately download the application form from the official site or visit the closest bank office. You can also call the Union Bank of India home loan customer care to continue with the application procedure.
Generally, the bank’s delegate will go to your workplace or your home to gather the filled in application form and all the important records required for confirmation whenever you determine. A background verification would enable the moneylender to think about the personal and professional status of the candidate. If there are any errors with the data given, the Union Bank of India’s home loan application is probably going to be denied. After verifying the document and eligibility, the approval procedure moves to the last level. At the last stage and after conversations with the lender, the Union Bank of India’s home loan interest rate and the repayment period is fixed and sent for your acknowledgment.