City Union Bank Home Loan Interest Rates

Last Updated : Feb. 4, 2025, 4:08 p.m.
City Union Bank home loan interest rates are based on loan amount, tenure, and applicant’s credit profile. The interest rates starting from 8.25% p.a. are typically linked to the bank’s Marginal Cost of Funds-Based Lending Rate (MCLR) or the Repo Linked Lending Rate (RLLR). Borrowers can choose from flexible repayment options, and the loan can be used for purchasing, constructing, or renovating a house. The bank may also offer special rates for salaried individuals and women borrowers.
For the latest interest rates, it’s best to check the content given below -
City Union Bank Home Loan Interest Rate 2025
Here are the latest home loan interest rates of City Union Bank Home Loan, understand the table to know better -
Interest Rate | 8.25% p.a. upto 9.50% p.a |
Processing charges | 0.35% on the loan amount + GST |
Loan Tenure | Up to 30 years |
Loan Amount | Rs.5.00 lakh up to Rs.30.00 lakh |
Purpose of City Union Bank Home Loan
Here is the purpose of City Union Bank Home Loan , read the content below to understand better -
- Purchase of Ready-Built Properties : This includes flats, villas, or apartments.
- Acquisition of Older Residential Properties : The bank finances the purchase of existing houses, flats, or apartments, provided the building's age does not exceed 30 years.
- Purchase of Residential Plots : The bank provides loans for purchasing non-agricultural land intended for residential construction.
- Completion of Under-Construction Homes : If you have an ongoing residential construction, the bank can assist with funds to complete it.
- Repairs, Improvements, or Extensions : For existing properties, the bank offers loans ranging from Rs.5 lakh to Rs.30 lakh, depending on the property's location, to fund repairs, improvements, or extensions.
- Balance Transfer of Existing Home Loans : The bank facilitates the takeover of existing housing loans from other financial institutions, based on the remaining repayment period.
- Builder Tie-Ups : The bank funds housing loans for borrowers intending to purchase villas or flats from builders whose projects are approved or funded by the bank.
- Furnishing and Interior Works : For undertaking any furnishing or interior works, a minimum margin of 50% is required for funding.
For furnishing or interior work loans, borrowers are required to contribute at least 50% of the total cost from their funds, with the bank financing the remaining amount .
Eligibility Criteria For City Union Bank Home Loan
Here are the eligibility criteria for the City Union Bank Home Loan -
Loan amount | Rs 25 lakhs & above | Salaried - Rs 50,000 p.m | Non-Salaried - Rs 5 lakhs p.a |
Below Rs 25 lakhs | Rs 35,000 p.m | Rs 4.25 lakhs p.a | |
Residency | Indian | Non-resident Indians (NRIs) or Persons of Indian Origin (PIOs) holding foreign passports. | |
Age | Minimum- Above 21 years of age | Co – Co-borrower/ Co-applicant – above 18 years may be permitted. | |
Maximum - 60 years (for salaried) and 65 years (for non-salaried) | |||
Employment Type | Salaried Individuals: Regular employees of MNCs, reputed companies, educational institutions, Central/State Government, and Public Sector Undertakings. Minimum of 2 years of confirmed service. Relaxed to 1 year for employees of PSUs/Quasi-PSUs. | Non-Salaried Individuals: Minimum of 3 years of business activity in the related field. |
Documentation Required For City Union Bank Home Loan
When applying for a home loan with City Union Bank, you'll need to provide the following documents:
Identity Proof :
- Aadhaar Card
- Passport
- PAN Card
- Voter’s Identity Card
- Driving License
- Ration Card
- Employer-issued ID or confirmation (subject to branch satisfaction)
- ID cards from recognized educational institutions
- Letter from a public authority or servant (not below the rank of Tahsildar) verifying identity and residence
- A State Government official's signature on an NREGA job card
- Letter from UIDAI with details of name, address, and Aadhaar number
Address Proof :
- Aadhaar Card
- Passport
- Voter’s Identity Card
- Driving License
- Telephone Bill (not older than 2 months, with installation at least 6 months prior)
- Bank Account Statement
- Letter from a public servant or authority (not below the rank of Tahsildar) verifying identity and residence
- Electricity Bill (latest)
- Ration Card
- Employer-issued letter (subject to bank’s satisfaction)
- ID issued by Postal Authorities
- A State Government official's signature on an NREGA job card
- Letter from UIDAI with details of name, address, and Aadhaar number
- Consumer Pass Book from Gas Agency
- Rent agreement indicating the customer's address, duly registered with the State Government or similar authority.
Please Note: City Union Bank may request additional documents based on individual circumstances. For more detailed information, you can visit the bank's official website.
Calculate Monthly EMIs of City Union Bank Home Loan
Here is an example of a different EMI with a loan tenure of up to 30 years with a home loan of Rs. 30,00,000 and interest rates ranging from 8.25% p.a. upto 9.50% p.a. You can easily get an idea of your monthly EMIs for the City Union Bank home loans with the help of Home Loan EMI Calculator .
You just need to enter the following details -
- Loan Amount
- Loan Tenure
- Interest Rate
Tenure (In Years) | EMI (at 8.25% interest rate) | EMI (at 9.50% interest rate) |
---|---|---|
5 | Rs. 61,188.75 | Rs. 63,005.58 |
10 | Rs. 36,795.79 | Rs. 38,819.27 |
15 | Rs. 29,104.21 | Rs. 31,326.74 |
20 | Rs. 25,561.97 | Rs. 27,963.94 |
25 | Rs. 23,653.50 | Rs. 26,210.90 |
30 | Rs. 22,538.00 | Rs. 25,225.63 |
Other Charges of City Union Bank Home Loan
These are some other fees applicable on the City Union Bank Home Loan, understand them better -
Prepayment Penalty | Floating Rate Loans: No prepayment charges or penalties apply if the loan is repaid early or transferred to another bank. Fixed Rate Loans: No prepayment penalty if the loan is repaid using the borrower's funds; however, a 2% takeover penalty above the card rate is charged on the outstanding balance if the loan is transferred to another bank. |
Security | Secures home loans by creating an equitable mortgage on the property being financed. |
Interim Security Pending Mortgage | If creating a mortgage is delayed beyond 24 months, City Union Bank may require interim security, such as a third-party guarantee. |
How to Apply For City Union Bank Home Loan Online?
To apply for a City Union Bank home loan online, follow these steps:
- Visit the Official Website: Go to the City Union Bank home loan page.
- Navigate to Home Loans: Select the 'Home Loans' section.
- Choose a Scheme: Click on 'Apply for Home Loan' and select your preferred scheme.
- Fill Out the Application: Complete the online form with the required details and upload the necessary documents.
- Submit the Application: Click 'Submit' to complete the process.
After submission, the bank will contact you regarding your application.
Conclusion
Do you know, the most affordable City Union Bank home loan interest rates that start at 8.25% p.a. upto 9.50% p.a for the loan amount up to 35 Lakhs with repayment tenures extending up to 30 years? The loan amount, term, and applicant's credit score are some of the variables that affect the precise rate. For personalized assistance and to explore the options for the best home loans in India , consider visiting your nearest City Union Bank branch or contacting their customer service.
Frequently Asked Questions (FAQs)
What is the City Union Bank home loan interest rate?
What is the repayment tenure for the City Union Bank Home Loan?
How is the interest rate determined?
What is the loan-to-value (LTV) ratio under the City Union Bank Home Loan Interest Rate?
Are there any processing fees for City Union Bank Home Loan Interest Rate?
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