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Union Bank Slashes Loan Rates Dramatically!
23 Dec
Summary
- Interest rates on home, vehicle, and personal loans significantly reduced.
- Home loan rates now start at 7.15%, a 30 basis points decrease.
- Personal loan rates saw the steepest cut, down 160 basis points to 8.75%.
Union Bank of India has significantly lowered interest rates on several retail loan offerings, including home, vehicle, and personal loans. These revised rates, effective from December 18, 2025, aim to provide more affordable borrowing options for customers.
The bank's home loan interest rates have been reduced by 30 basis points, now starting at 7.15% per annum. Vehicle loan interest rates have seen a 40 basis point decrease, with new rates commencing at 7.50% per annum. Additionally, personal loan interest rates have been slashed by a substantial 160 basis points, now beginning at 8.75%.
These rate adjustments are in response to easing monetary conditions, notably the Reserve Bank of India's repo rate cut to 5.25% on December 5, 2025, marking the fourth such reduction in the year. Union Bank is also providing an extra 0.10% annual concession on eligible Green Finance Home Loans and Vehicle Loans.
