The bank offers Loan Against Property (LAP) to salaried individuals, self-employed professionals, firms, and entrepreneurs seeking funds for business expansion, debt consolidation, or personal financial needs.
| Feature | Details |
|---|
| Interest Rate (Loan Against Property) | Starts from 12 (as low as 12 p.a. For select profiles) |
| Loan Amount Range | ₹5 lakh up to ₹10 crore |
| Repayment Tenure | Up to 15 years |
| Loan Variants Available | Mortgage Term Loans, Lease Rental Discounting, Overdraft Facilities |
| Property Type Accepted | Residential and Commercial (non-agricultural) |
| Eligible Applicants | Indian residents, NRIs, entrepreneurs, professionals, partnership firms, NGOs |
| Minimum Age at Application | 21 years |
| Maximum Age at Loan Maturity | 60 years |
| Minimum Income Requirement (Salaried) | ₹25,000 net monthly income |
| Minimum Income Requirement (Self-Employed) | ₹3 lakh annual profit |
| Loan-to-Value (LTV) Ratio | 60–70% of market value of mortgaged property |
| Processing Time | 7–15 working days post document submission |
| Pre-Approval Check | Available online via Union Bank website (completed in under 2 minutes) |
| Application Mode | Online or at any Union Bank branch |
| Document Verification | KYC, income proof, property title documents, PAN, Aadhaar, latest 3 salary slips (salaried), ITR (self-employed) |
| Disbursement Time | Within 7 working days of final approval and document clearance |
| Takeover Penalty | 2% on average outstanding balance of previous 12 months if loan is transferred to another lender or repaid in lump sum from third-party source |
| Prepayment Charges | Nil (RBI mandate for floating rate loans) |
| Part-Prepayment Facility | Allowed, subject to bank's terms and conditions |
| Overdue Interest Rate | As per Union Bank's standard lending policy (penal rate applicable) |
| Security Requirement | Registered mortgage of residential/commercial property |
| Joint Applicant Allowed | Yes, with co-owner or spouse |
| Customer Support | Available via toll-free number, email, and branch network (over 8,000 branches across India) |
| Digital Tracking | Loan status can be tracked online through Union Bank's customer portal |
Union Bank of India offers Loan Against Property (LAP) starting at 12 p.a., with loan amounts ranging from ₹5 lakh to ₹10 crore. The maximum repayment tenure is up to 15 years, extendable to 20–25 years based on borrower profile and property type. The bank accepts both residential and commercial properties as collateral, and provides LAP as a term loan or overdraft facility. Borrowers must be Indian residents aged 21–60 years at the time of loan maturity, with a minimum of 2–3 years of employment or business continuity.
| Feature | Details |
| Minimum Interest Rate | 12 p.a. |
| Maximum Interest Rate | 12 p.a. |
| Salaried – Minimum ROI | 12 p.a. |
| Salaried – Maximum ROI | 12 p.a. |
| Non-Salaried – Minimum ROI | 12 p.a. |
| Non-Salaried – Maximum ROI | 12 p.a. |
| Minimum Loan Amount | ₹5 lakh |
| Maximum Loan Amount | ₹10 crore |
| Repayment Tenure | Up to 15 years (extendable to 20–25 years based on eligibility) |
| Loan-to-Value (LTV) Ratio | 60–70% of the property's market value |
| Eligible Property Types | Residential, Commercial |
| Loan Disbursement Mode | Term Loan, Overdraft Facility |
| Minimum Age at Application | 21 years |
| Maximum Age at Maturity | 60 years |
| Employment Requirement | Minimum 2–3 years in current job or business |
| Co-applicant Eligibility | Spouse, parent, or blood relative |
| Property Ownership | Must be in applicant's name or jointly held with family |
| Residency Status | Indian Residents only |
| Security Requirement | Mortgage of immovable property (residential/commercial) |
| Processing Time | 7–10 working days (subject to document completeness) |
| Prepayment Charges (Floating Rate) | Nil (RBI mandate) |
| Part-Prepayment Allowed | Yes, without charges |
| Foreclosure Charges | As per bank policy, subject to prevailing guidelines |
| Customer Service Reach | Over 8,000 branches across India |
| Bank Status | Largest Public Sector Bank in India |
- Applicants must be at least 21 years old at the time of application, with loan maturity not extending beyond age 60.
- Indian residents and NRIs are eligible, provided the property is in India and used for eligible purposes.
- Salaried individuals must have a minimum of 2–3 years of continuous employment with a recognized organization.
- Self-employed applicants, including professionals and entrepreneurs, must show at least 3 years of business continuity and audited financials.
- Joint ownership of the property is allowed, with co-applicants being immediate family members only.
- The property offered as collateral must be fully owned, free of legal disputes, and in residential or commercial use.
- Minimum CIBIL score required is 750+ for preferential pricing; lower scores may lead to higher ROI or rejection.
Meeting these criteria improves approval chances and helps secure rates starting from 12. The EMI for a Union Bank of India Loan Against Property (LAP) depends on the loan amount, interest rate, and tenure. For a ₹50 lakh LAP at 12 over 15 years, the monthly EMI starts at ₹51,248. A ₹10 crore LAP at 12 over the same period results in an EMI of ₹1.02 lakh. EMI increases with higher loan amounts and interest rates but decreases with longer tenures. Below is a detailed EMI breakdown for different loan amounts and interest rates offered by Union Bank of India for LAP in 2026.
| Loan Amount (₹) | Interest Rate (p.a.) | Repayment Tenure | Monthly EMI (₹) | Total Interest Payable (₹) |
| 5,00,000 | 12 | 15 years | 5,125 | 4,22,500 |
| 10,00,000 | 12 | 15 years | 10,250 | 8,45,000 |
| 25,00,000 | 12 | 15 years | 25,624 | 21,12,320 |
| 50,00,000 | 12 | 15 years | 51,248 | 42,24,640 |
| 75,00,000 | 12 | 15 years | 76,872 | 63,36,960 |
| 1,00,00,000 | 12 | 15 years | 1,02,496 | 84,49,280 |
| 5,00,00,000 | 12 | 15 years | 5,12,480 | 4,22,46,400 |
| 10,00,00,000 | 12 | 15 years | 10,24,960 | 8,44,92,800 |
Extending the tenure reduces EMI but increases total interest outgo. For example, a ₹50 lakh LAP at 12 results in an EMI of ₹51,248 over 15 years, but drops to ₹43,872 if extended to 20 years, increasing total interest by ₹10.4 lakh. Borrowers should use the Union Bank EMI calculator to compare scenarios based on their repayment capacity and long-term financial goals. The following documents are required for a Union Bank of India Loan Against Property:
- Completed application form with passport-sized photographs
- Proof of identity and address (Aadhaar, PAN, Voter ID, or Passport)
- For salaried individuals: Latest 3 salary slips and Form 16 or IT returns for the last 2 years
- For self-employed applicants: ITR (Income Tax Returns) for the last 3 years with computation of income
- Proof of business existence (business registration, GST Certificate, or shop license)
- Property documents: Title deed, sale agreement, property tax receipt, and approved building plan
- 6 months bank statements for all linked accounts
- Valuation report of the property by a bank-approved valuer
Borrowers must ensure all documents are submitted in original for verification, along with self-attested photocopies. The bank levies a 2% take-over penalty on the average outstanding balance of the preceding 12 months if the loan is transferred to another lender or settled externally. Tender document costs are fixed at ₹750, and all charges attract 18% GST as applicable.
| Fee Type | Charge | Minimum/Maximum | Notes |
| Processing Fee | 0.50% of loan amount | ₹15,000 + GST (capped) | Applies to home loans up to ₹35 lakh; higher amounts may vary |
| Processing Fee – PMAY-linked | 0.50% of loan amount | ₹15,000 + GST (maximum) | As of November 2025; subject to scheme norms |
| Processing Fee – Balance Transfer | 0.50% of outstanding loan | ₹15,000 (maximum) | No GST mentioned; applicable for 2026 |
| Processing Fee – NRI Loan | 0.25% – 2.00% of loan amount | Slab-based on credit profile | Higher fees may apply based on risk assessment |
| Prepayment Charges | NIL | Not applicable | RBI mandate for floating rate loans; no penalty |
| Take-Over Penalty | 2% of average outstanding balance | Last 12 months' average | Charged if loan taken over by another institution |
| Tender Document Cost | ₹750 | Fixed charge | One-time fee; applicable in 2026 |
| GST | 12 | On all applicable charges | Levied over processing fee, documentation, and other services |
| Part Payment – Minimum | Equivalent to 3 EMIs | As per internal policy | Applies to part prepayment under certain schemes |
| Part Payment – Maximum | Loan outstanding minus last EMI | Full flexibility | No CAP except final installment exclusion |
| Commitment Charges | On unutilized portion | Exempt for certain loan types | Applies to new loans; not renewal or ment |
| Maintenance Charges | Exempted | For select accounts | No charges for Net Banking, Mobile Banking, CUB ATMs |
A key insight: Union Bank waives prepayment penalties on floating rate loans, aligning with RBI guidelines, but imposes a 2% take-over charge to deter external refinancing. The application process for Union Bank of India Loan Against Property (LAP) typically takes 10 to 15 working days after submission of complete documents. Pre-eligibility check can be completed in under 2 minutes via the bank's official website.
- Check eligibility: Applicants must be Indian residents aged 21 to 60 years (salaried) or 25 to 70 years (self-employed) with minimum net income of ₹25,000/month (salaried) or ₹3 lakh annual profit (self-employed).
- Visit unionbankofindia.co.in and use the pre-check tool to assess preliminary eligibility in under 2 minutes.
- Submit application online or at any of the bank's over 8,000 branches across India; pay processing fee of 0.50% of loan amount (capped at ₹15,000 + GST).
- Provide KYC documents: Aadhaar, PAN, address proof, passport-sized photographs, and income proof (latest 3 salary slips for salaried; 3 years ITR for self-employed).
- Submit property documents: Title deed, sale agreement, property tax receipts, and valuation report from bank-approved valuer.
- Undergo technical and legal scrutiny: Bank completes property verification within 3–5 working days as part of due diligence.
- Loan sanction: Final approval communicated via email/SMS; digital approval time ranges from 7–15 days upon receipt of complete documentation.
- Sign loan agreement and mortgage documents; register property via equitable mortgage or physical possession of title deeds.
- Disbursement: Funds released to borrower or third party within 2–3 working days post-document registration and compliance check.
- Set up EMI auto-debit: Opt for ECS mandate to ensure timely repayments over tenure up to 15 years.
- Track application status online using reference number; customer service support available via toll-free helpline and branch visits.
- Maintain post-sanction compliance: Submit annual property insurance proof and notify bank of any change in income or contact details.
The entire process is designed for transparency and speed, with digital tracking available from application to disbursement. Union Bank of India offers Loan Against Property (LAP) with interest rates starting from 12 for salaried and 12 for non-salaried applicants. The maximum loan amount is ₹10 crore, with repayment tenures up to 15 years, making IT suitable for both individuals and businesses seeking large funds. The bank provides LAP variants including mortgage term loans, lease rental discounting, and overdraft facilities against residential or commercial properties. Borrowers benefit from a digital processing time of 7–15 days when documentation is complete, and the bank has over 8,000 branches across India for offline support.
| Feature | Benefit to Borrower | Specific Detail (2026) |
| Interest Rate | Competitive pricing based on profile | Starts at 12 for general borrowers |
| Loan Amount Range | High funding capacity | ₹5 lakh to ₹10 crore |
| Repayment Tenure | Flexible long-term planning | Up to 15 years |
| Loan-to-Value (LTV) | Higher fund access against property | 60–70% of property's market value |
| Processing Time | Faster disbursal | 7–15 days (digital approval, complete docs) |
| Branch Network | Widespread accessibility | Over 8,000 branches nationwide |
| Prepayment Charges | No penalty on floating rate loans | Nil (RBI mandate for floating rate) |
| Takeover Penalty | Transparency in balance transfer | 2% on average outstanding balance of last 12 months if taken over by another bank |
| Eligible Property Types | Broad collateral options | Residential and commercial properties |
| Loan Variants | Tailored solutions | Mortgage term loan, lease rental discounting, overdraft facility |
| Co-applicant Option | Higher eligibility through combined income | Allowed (individuals can apply jointly) |
| Age Criteria | Inclusive eligibility | 21 to 60 years (salaried), 25 to 70 years (self-employed) |
Key Takeaways
- Union Bank of India offers LAP with loan amounts up to ₹10 crore and tenures up to 15 years, suitable for high-value funding needs (2026 data).
- The bank's LTV ratio for LAP is 60–70% of property value, allowing substantial fund access while maintaining risk discipline.
- Digital processing time is 7–15 days with complete documentation, supported by a network of over 8,000 branches for physical assistance.
Check eligibility and apply at unionbankofindia.co.in
