Union bank cuts interest rate on home loans
The Union bank of India, a Mumbai based public sector lender, has decreased the interest rates on home loans above Rs 30 lakhs by 25 basis points.
The bank is now offering home loans up to 75 lakhs at the base rate which is 10.5 percent. Loans above Rs 75 lakh and up to Rs 5 crore will be charged an interest rate of 10.75 percent.
For home loans up to Rs 30 lakhs, SBI charges an interest rate of 10 percent and for home loans above 30 lakhs will be charged interest rates of 10.15 percent.
SBI has the lowest rates for which they have seen a rise in the customers applying for home loan or customers shifting from other private banks.
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