(IBNS): Union Bank of India on Friday announced it has slashed their Home Loan interest rates.
The revised rates are applicable to all new and existing floating rate customers.
Fixed rate customers can also avail the new rates by switching to floating rate.
The present base rate of the bank is 10.50%.
The rates offered are one of the lowest in the banking sector, said and official statement.
The bank said it has also simplified the tenure of Home Loans with a single slab up to 25 years.
Chairman and Managing Director D Sarkar said the reduction in interest rates will help people access home loans at affordable rates and realize their long cherished dream.
Union Bank of India is the fifth largest nationalized bank of the country with a pan India presence.