State-owned Union Bank of India on October 26 announced it would reduce its home loan rate to its all-time low of 6.40 percent. The reduced rate will be effective from October 27.
Union Bank said it is an all-time low rate for home loans for the bank. The new rates will be applicable to customers applying for new loans or those who wish to transfer their existing loans, including balance transfers.
"Customers will be benefited from this offering during the festive season as we see a rising demand for buying homes. With this reduced rate of interest, Union Bank of India's home loan rate is the most competitive in the industry," it said.
First Published: IST