Union Bank of India: Cuts Housing Loan Interest Rates ..!

PSU bank says there will not be any processing fees on Home loans..!

Mumbai based public sector bank, Union Bank of India (UBI) has reduced interest rates on housing loans above Rs. 30 lakh by 0.25% and is now offering the housing loans up to. Rs 75 lakh at the base rate (10.5 per cent). However, the bank has kept its base rate unchanged at 10.5 per cent.

In August, 2012 UBI had announced the reduction in interest rates on home loans up to Rs, 30 lakh and was giving it a base rate.

Now, it is offering loans up to Rs. 75 lakh at the base rate. Loans above Rs. 75 lakh and up to Rs. 5 crore will be charged interest rate of 10.75%.

The UBI said, There will not be any processing fees on these loans. .

State Bank of India..!

However, India’s largest bank,  SBI's (State Bank of India’s) home loan rates are lowest among the banks. SBI charges interest rate of 10 per cent for the loans up to Rs. 30 lakh & 10.15 per cent for the loans above Rs. 30 lakh.

SBI's lowest rates have seen its housing loan disbursals tripling. SBI's 25 per cent new housing loan customers are from other banks, Mr. Pratip Chaudhuri, chairman had said.  

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