Union Bank home loan for bank employees

Union Bank Home Loan for Government and Bank Employees 2026 : Concessions & Benefits

Union Bank of India offers a dedicated Staff Housing Loan Scheme for its eligible employees with benefits available under the bank’s staff lending policy. One of the key benefits is a 0.50% interest rate concession on staff housing loans, helping employees reduce their overall borrowing cost. Staff housing loans are also covered under the bank’s Group Insurance Scheme, providing financial protection during the loan tenure.

Eligible government employees who maintain salary accounts with Union Bank under approved salary account schemes may also receive home loan benefits. Under the Union Bank Salary Scheme, eligible borrowers can avail up to 0.10% concession on the applicable home loan interest rate, while eligible women employees may receive an additional concession of up to 0.10%. The scheme also provides a 100% waiver of processing and documentation charges on housing loans.

Interest Rate Concession for Eligible Employees

Union Bank of India offers interest rate concessions on home loans to eligible employees under its Staff Housing Loan Scheme. Eligible serving and retired employees can avail a 0.50% concession on the applicable home loan interest rate. In addition, employees covered under the Union Bank Salary Scheme may receive up to 0.10% concession, while eligible women employees can avail an additional concession of up to 0.10%. The scheme also provides a 100% waiver of processing and documentation charges on housing loans.

For the full current rate details, refer to the Union Bank home loan interest rate page and compare rates across all lenders on the home loan interest rate page before finalising your application.

Eligibility Criteria

Applicants must satisfy the eligibility requirements prescribed under the relevant Union Bank home loan scheme. Use the Home Loan Eligibility Calculator to estimate your eligible loan amount before applying. The Union Bank home loan employee eligibility conditions include:

• Serving employees of Union Bank of India covered under the Staff Housing Loan Scheme.
• Retired Union Bank employees eligible under the applicable staff housing loan policy.
• Government employees applying under eligible salary account or retail home loan schemes.
• Minimum age of 18 years at the time of loan application.
• Maximum age at loan maturity of 75 years, subject to the applicable home loan scheme.
• Sufficient and stable income to meet the bank’s repayment capacity assessment.
• A satisfactory credit profile and repayment history.
• A legally and technically approved residential property that satisfies the bank’s financing norms.

Documents Required

Applicants applying for a Union Bank of India home loan under the staff housing loan or other eligible home loan schemes should keep the following documents ready:

• Duly filled and signed home loan application form.
• Identity proof (Aadhaar Card, PAN Card, Passport, Voter ID, or Driving Licence).
• Address proof (Aadhaar Card, Passport, utility bill, or other valid proof accepted by the bank).
• PAN Card and Aadhaar Card.
• Recent passport-size photographs of all applicants.
• Latest salary slips and salary certificate.
• Form 16 or Income Tax Returns, wherever applicable.
• Employee ID card and employment certificate issued by the employer.
• Bank account statements for the period specified by the bank.
• Property documents, including the title deed, approved building plan, sale agreement, and other legal papers required for property verification.

Union Bank Employee Loan vs Regular Home Loan

Eligible Union Bank employees may benefit from staff-specific concessions and lending terms that are not available under standard retail home loans.

Apply for a Home Loan with Urban Money

Urban Money simplifies the home loan application process by helping you compare lenders and providing end-to-end assistance. Once your loan is sanctioned, use the Home Loan EMI Calculator to plan your monthly repayments, the Home Loan Prepayment Calculator to estimate interest savings from early repayments, the Home Loan Tax Benefit Calculator to estimate your annual deductions under Section 80C and Section 24(b), and the Home Loan Balance Transfer Calculator to evaluate whether switching to a lower-rate lender makes financial sense.

To apply:

1. Visit the Urban Money website and navigate to ‘Products & Offers’ from the top menu.
2. Choose ‘Home Loan’ to view available loan options.
3. Compare interest rates and features offered by different lenders.
4. Click ‘Enquire Now’ for the loan that matches your requirements.
5. Enter the requested details and submit the inquiry form.
6. An Urban Money loan expert will get in touch to assist you with eligibility assessment, documentation, and the remaining application formalities.