Union Bank slashes home loan interest rate to all-time low of 6.40%, check SBI, LIC HFL’s offerings

 The Union Bank of India has lowered home loan interest rates to an all-time low of 6.40 percent as part of their Diwali promotion. The offer is beneficial to those who are looking to purchase a new home.

The Union Bank's decreased home loan interest rates are effective as of Wednesday (October 27, 2021). "Union Bank of India announces reduction in its home loan interest rates with a minimum rate of interest now starting at 6.40 percent," the bank said in a news release.

According to Union Bank, this is the bank's all-time low rate for house loans. "Customers will profit from this deal throughout the holiday season, when there is an increase in demand for home purchases. Union Bank of India's Home Loan rate is the most competitive in the business, thanks to this lower interest rate "It was stated.

The low interest rate will apply to loan transfers as well as new house purchases. Customers who want to transfer their existing loans, including balance transfers, can get a 6.40 percent interest rate on a Union Bank home loan.

Prior to Union Bank, Kotak Mahindra Bank and Bank of Baroda (BoB) were the only banks giving home loans at a 6.50 percent interest rate. Furthermore, Housing Finance Limited, the lending arm of the Life Insurance Corporation of India, is issuing home loans at a 6.60 percent interest rate, while SBI is offering a 6.7 percent rate.

Buyers are anticipated to invest in real estate since banks are selling homes at the lowest loan rates ever witnessed. As a result, the real estate market may experience a boom, giving the Indian economy a boost.

Conclusion

There's no need to be discouraged if your personal loan application is turned down. To boost your chances of loan approval, simply work on improving your credit report and following the methods outlined above. Once you've completed this checklist, you're ready to submit your personal loan application.To find about the best pricing and deals, call our toll-free number +91-9477079053. They'll help you in every way they can. Please contact me at Best Home Loan In India if you have any more. 

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