Union Bank of India Plot Loans

What Is Union Bank of India Plot Loan?

The Union Bank of India plot loan is a housing finance product offered for purchasing residential plots or sites. Unlike a regular Union Bank of India home loan, which finances a ready house or construction, this loan is meant specifically for buying approved residential land.

Eligible plots include:

• Residential plots allotted by State Development Authorities or Town Planning Authorities.
• Plots developed by statutory authorities of Central or State Governments or local authorities.
• Residential layouts approved by statutory authorities and RERA-approved projects developed by eligible private developers.
• Residential plots purchased directly from approved private developers or through second sale.
• Residential plots developed by authorities such as DDA, LDA, JDA, HUDA and similar development authorities.

What are the Features & Benefits of Union Bank of India Plot Loans?

The features and benefits of UBI loans for plots are:

• Finance for approved residential plots only.
• Available for plots purchased from government authorities, statutory bodies and approved private developers.
• Loan amount is determined based on repayment capacity and the value of the property.
• Maximum repayment tenure of up to 30 Years.
• Financing available for eligible second-sale residential plots.
• Floating-rate housing finance linked to the bank’s applicable lending rate.
• Suitable for borrowers planning future home construction.

Interest Rate for Union Bank Plot Loan

The Union Bank plot loan interest rate 2026 follows the bank’s applicable housing loan interest rate structure and varies according to the borrower’s profile, credit assessment and prevailing lending rates. For the full current rate details, refer to the Union Bank of India home loan interest rate page. Compare rates across all lenders on the home loan interest rate page.

Eligibility Criteria & Eligible Plots for Union Bank Plot Loan

The Union Bank land purchase loan eligibility conditions include:

• Resident individuals satisfying the bank’s income and repayment norms.
• Applicants must meet the bank’s age and credit requirements.
• Loan eligibility depends on repayment capacity.
• The property must be an approved residential plot.

Eligible plots include:

• Government development authority plots.
• Statutory authority-approved layouts.
• RERA-approved residential plotted developments.
• Approved residential plots purchased from eligible private developers.
• Approved residential plots purchased through second sale.

The scheme does not cover agricultural land or unapproved layouts. Use the Home Loan Eligibility Calculator to estimate your borrowing capacity before applying.

LTV Ratio & Maximum Loan Amount for Union Bank Plot Loan

The maximum loan amount is decided by the bank based on repayment capacity and property valuation.

The official product page does not prescribe fixed city-wise loan limits. Use the Home Loan EMI Calculator to estimate your monthly repayments based on the likely sanctioned amount and tenure before applying.

Documents Required for Union Bank Plot Loan

The Union Bank plot loan documents required generally include:

• Duly completed loan application form.
• Identity proof.
• Address proof.
• PAN.
• Income proof (salary slips, Form 16, bank statements for salaried applicants).
• ITRs and financial statements for self-employed applicants.
• Property documents relating to the plot.
• Approved layout plan.
• Sale agreement or allotment letter.
• Passport-size photographs.

The bank may request additional documents depending on the borrower’s profile and the property being financed.

Union Bank Plot Loan vs SBI Plot Loan Comparison

Here is a comparison between the Union Bank and SBI plot loans:

This comparison also highlights the Union Bank plot loan vs home loan difference. A plot loan finances only land purchase, whereas a regular home loan finances a completed house or construction project. Once your loan is sanctioned, use 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.

How to Apply for a Home Loan with Urban Money

Borrowers can apply for a loan through the Urban Money platform:

• Visit the official Urban Money website.
• Choose Home Loan from the main loan category menu.
• Browse and compare home loan options side by side.
• Click Enquire Now on the plan that matches your current budget.
• Enter a few basic details, including your full name, city, and mobile number.
• Verify your identity instantly using the secure OTP sent to your phone.

An Urban Money loan specialist will contact you shortly to walk you through the rest of the process until your funds are disbursed.