MUMBAI: Union Bank of India slashed its Interest rate by 10 BPS for Home Loans above Rs.30 lacs. Women borrowers will get further concessions of 5 BPS in the rate of interest over and above this reduction for such loans. There will be Zero processing charges for Home Loans till 31st December 2020. In addition to this it also waived Legal &Valuation charges up to Rs.10000 in case of take over of Home Loans by Union Bank of India.
All these Interest concessions will be effective from 1st November 2020. There are no Processing charges also for Car and Educational loans. Bank has launched multiple campaigns of Retail and MSME loans to reach the customers. In view of the festive season, Bank expects borrowers to utilize the advantage of lower interest rates offered by the Bank and avail of the loans.
