Union Bank of India Loan Against Property (LAP) starts at 9.40% p.a., offering loan amounts from ₹5 lakh up to ₹10 crore with flexible repayment tenures of up to 15 years. The bank provides different variants such as mortgage term loans, lease rental discounting, and overdraft facilities, making it an ideal choice for individuals and businesses alike. Whether it’s for business expansion, debt consolidation, or meeting personal financial requirements, a Union Bank loan against property allows you to unlock the value of your residential or commercial property at competitive interest rates.
For official product details, you can visit the Union Bank of india Loan Against Property page. At CreditCares, we make the process smoother by assisting with eligibility checks, documentation, and lender comparisons, ensuring you get the best possible deal at the lowest rate.
Union Bank of india Loan Against Property – Key Highlights
| Feature | Details |
|---|---|
| Interest Rates | 9.40% – 11.50% p.a. (may vary as per applicant profile & property type) |
| Loan Amount | ₹5 lakh – ₹10 crore |
| Tenure | Up to 15 years |
| Processing Fee | Up to 1% of loan amount (minimum ₹10,000 + applicable taxes) |
| Loan Variants | Mortgage Term Loan, Overdraft Against Property |
| Eligible Properties | Residential or Commercial (self-occupied / rented) |
Note: Interest rates and charges are indicative and subject to periodic revisions. For updated details, always refer to the Union Bank of india official website.
Union Bank of India Loan Against Property – Fees and Charges
| Particulars | Charges |
|---|---|
| Processing Fee | Up to 1% of the loan amount (minimum ₹10,000 + applicable taxes) |
| Prepayment / Foreclosure Charges | Nil for floating-rate loans availed by individuals |
| Part-Prepayment | Allowed without penalty (for floating-rate loans availed by individuals) |
| Legal & Valuation Charges | At actuals (to be borne by the borrower) |
| Documentation Charges | As applicable (varies by branch/loan type) |
| Penal Interest (for overdue EMI) | 2% per month on the overdue amount |
| EMI Bounce Charges | ₹500 per instance (plus applicable taxes) |
Note: Charges are indicative and may be revised by the bank from time to time. For the latest details, visit the Union Bank of india official LAP page.
Compare LAP Interest Rates: Union Bank of India vs Top Lenders (2025)
| Lender | Interest Rate (% p.a.) | Apply Online |
|---|---|---|
| Union Bank of India | 9.45% – 12.10% | Apply Now |
| Tata Capital | 9.00% (floating) – 13.00% (fixed) | Apply Now |
| State Bank of India | 9.20% – 10.50% | Apply Now |
| HDFC Bank | 9.50% – 11.00% | Apply Now |
| ICICI Bank | 10.85% – 12.50% | Apply Now |
| Axis Bank | 10.50% – 10.95% | Apply Now |
Union Bank of India Loan Against Property Interest Rates (Detailed Table for Each Property Type)
Union Bank offers competitive LAP rates based on the type of property pledged and the borrower’s profile. Here’s a detailed breakdown:
| Type of Loan / Property | Interest Rate (p.a.) | Tenure | Loan Amount | Special Notes |
|---|---|---|---|---|
| Residential Property LAP | 9.25% – 10.50% | Up to 15 years | ₹5 lakh – ₹5 crore | Ideal for salaried and self-employed individuals. |
| Commercial Property LAP | 9.50% – 11.00% | Up to 15 years | ₹10 lakh – ₹7.5 crore | Designed for business expansion & working capital. |
| Lease Rental Discounting (LRD) | 9.30% – 10.75% | Based on lease period or up to 9 years | Linked to rental cash flows | Available only on rented-out properties with registered lease agreements. |
| Special Retail Lending (SRLGE) | 9.20% – 10.25% | Up to 15 years | ₹5 lakh – ₹5 crore | Covers both residential & non-residential properties. |
| Overdraft Facility Against Property | 9.40% onwards | 1 year (renewable) | Linked to property valuation | Best for managing cash flow mismatches & working capital. |
💡 Note: The final interest rate depends on borrower’s profile, property type, loan amount, and Union Bank’s internal credit policy. Always check the Union Bank of india official page for updated rates.
At CreditCares, we assist you in comparing these Banks LAP options with other top lenders to ensure you get the best deal at the lowest rate.
Loan Against Property Eligibility: Who Can Apply?
Union Bank of India has well-defined eligibility criteria for individuals and businesses seeking a Loan Against Property (LAP). The requirements differ slightly for salaried applicants, self-employed professionals, and business owners.
Eligibility for Salaried Individuals
To qualify, applicants must:
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Be Indian residents with a stable income source.
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Age between 21 to 60 years (at the time of loan maturity).
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Have a minimum employment history of 2–3 years with a reputed organization.
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Property should be in the applicant’s name or jointly owned with family.
Key Points for Salaried Applicants
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Income proof and salary slips are mandatory.
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Higher loan eligibility for applicants with strong credit history.
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Both residential and commercial properties are acceptable.
Eligibility for Self-Employed & Business Owners
Union Bank offers LAP to entrepreneurs, professionals, and firms with steady income records.
Basic Criteria
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Applicant age: 25 to 65 years.
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Minimum 3 years of business continuity required.
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Business must be profit-making for at least 2 years.
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Property must have clear title and legal ownership.
Additional Points
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Eligible entities: proprietorships, partnerships, private limited companies.
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Higher loan amounts are available for commercial properties.
Eligibility for Professionals
This category covers doctors, CAs, architects, and similar professionals.
Requirements
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Valid professional qualifications.
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Minimum 2 years of independent practice.
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Property must be self-owned or co-owned.
💡 Tip: Use the Union Bank of india EMI Calculator to estimate your loan eligibility based on income and property value.
👉 At CreditCares, our experts can help you assess your eligibility quickly and guide you in choosing the best LAP option at the lowest interest rates.
Union Bank of India Loan Against Property Documents Required
When applying for a Loan Against Property with Union Bank of India, applicants must provide a set of KYC, financial, and property documents. The checklist may differ slightly for salaried and self-employed applicants.
1. For Salaried Applicants
| Document Type | Required Documents |
|---|---|
| Identity Proof | Aadhaar Card, PAN Card, Passport, Voter ID, Driving License |
| Address Proof | Utility Bills (Electricity/Water), Aadhaar, Passport |
| Income Proof | Last 3 months’ Salary Slips, Form 16, Bank Statements (6 months) |
| Property Documents | Registered Sale Deed, Title Deed, Approved Building Plan, Latest Property Tax Receipts |
| Photographs | Recent passport-sized photographs |
2. For Self-Employed Applicants
| Document Type | Required Documents |
|---|---|
| Identity Proof | Aadhaar Card, PAN Card, Passport, Voter ID |
| Address Proof | Aadhaar, Passport, Utility Bills |
| Income Proof | Last 2–3 years’ ITR, Audited Balance Sheets, Profit & Loss Statements, Bank Statements (12 months) |
| Business Proof | GST Registration, Business License, Partnership Deed/LLP Agreement (if applicable) |
| Property Documents | Title Deed, Sale Deed, Encumbrance Certificate (EC), Property Tax Receipts |
| Photographs | Recent passport-sized photographs |
👉 For official details, check Union Bank of india Loan Against Property – Documents Required.
👉 For faster processing, CreditCares provides complete documentation support and lender coordination.
Union Bank Loan Against Property Apply Online (Step-by-Step)
Union Bank of India allows applicants to easily apply for a Loan Against Property through its official website. The process is straightforward and can be completed in just a few steps.
Step 1: Visit the Official Portal
Go to the Union Bank of india Loan Against Property page.
Step 2: Select “Apply Online”
Choose the Apply Online option and fill out the basic details like name, contact number, email, and loan requirement.
Step 3: Enter Loan & Property Details
Provide details about the loan amount, property type (residential, commercial, or rented), and your income source.
Step 4: Upload Required Documents
Upload scanned copies of mandatory documents such as KYC proof, income proof, and property papers. For guidance, refer to the Union Bank of india LAP Documents Checklist.
Step 5: Submit the Application
After reviewing, click on Submit. The bank will generate an application reference number to track your loan status.
Step 6: Verification & Loan Approval
The bank verifies your documents, property details, and credit score. If eligible, you will receive a sanction letter with interest rates, tenure, and EMI details.
💡 Tip: You can also use the Union Bank of india EMI Calculator before applying to estimate your monthly repayments.
👉 At CreditCares, we simplify the Union Bank LAP application process by helping you prepare documents, compare offers, and ensure faster approvals.
Union Bank Loan Against Property EMI Calculator
Before applying for a Loan Against Property, it is important to estimate your monthly EMI obligations. Union Bank provides an EMI calculation tool on its portal, but for a faster and more user-friendly experience, you can try the CreditCares EMI Calculator.
How the EMI Calculator Works
The EMI (Equated Monthly Instalment) depends on three main factors:
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Loan Amount – The principal amount borrowed against your property.
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Interest Rate – The applicable Union Bank LAP rate (currently starting at 9.25% p.a.).
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Loan Tenure – The repayment period, up to 15 years.
The formula used is:
EMI = [P × R × (1+R)^N] / [(1+R)^N – 1]
Where:
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P = Principal Loan Amount
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R = Monthly Interest Rate
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N = Loan Tenure in Months
Example EMI Calculation
| Loan Amount | Interest Rate (p.a.) | Tenure | Approx. EMI |
|---|---|---|---|
| ₹20 lakh | 9.25% | 10 years | ₹25,576 |
| ₹50 lakh | 9.50% | 15 years | ₹52,265 |
| ₹1 crore | 9.75% | 20 years | ₹94,889 |
(Figures are illustrative and may vary as per Union Bank’s final offer.)
💡 Tip: Use the CreditCares EMI Calculator to instantly check your EMI based on loan amount, tenure, and Union Bank’s latest interest rates.
👉 With CreditCares, you not only calculate your EMI but also compare loan offers across multiple banks and get expert guidance for faster approvals.
Key Benefits of Union Bank Loan Against Property
Union Bank of India’s Loan Against Property (LAP) is designed to provide affordable credit while ensuring flexibility and security. Whether you are a salaried professional, self-employed individual, or business owner, Union Bank offers several unique advantages.
1. Competitive Interest Rates
Union Bank offers LAP at attractive rates starting from 9.25% p.a., making it one of the most cost-effective financing options compared to unsecured loans. Check the latest rates on the Union Bank of india official LAP page.
2. Higher Loan Amounts
Borrow up to ₹5 crore (depending on property valuation, income, and eligibility) to meet large financial needs like business expansion, debt consolidation, or personal expenses.
3. Flexible Repayment Tenure
With repayment periods extending up to 15 years, borrowers can choose an EMI plan that suits their cash flow. Use the CreditCares EMI Calculator to plan your monthly outflow.
4. Multiple Loan Options
Union Bank offers LAP against residential, commercial, and rented properties, along with Lease Rental Discounting and Overdraft Facility to match different financial requirements.
5. Transparent Processing & Charges
The bank maintains a clear fee structure with minimal hidden charges. Applicants get complete transparency on processing fees, foreclosure rules, and other charges.
6. Wide Eligibility Coverage
Both salaried and self-employed individuals, as well as professionals and business entities, are eligible for Union Bank LAP, provided they meet the income and property requirements.
7. Faster Approvals with Expert Guidance
Through CreditCares, applicants can simplify the documentation, speed up approvals, and compare offers from Union Bank and other lenders to secure the best deal at the lowest rate.
Frequently Asked Questions (FAQs) on Union Bank of india Loan Against Property
1. What is the current Union Bank of India Loan Against Property interest rate?
Union Bank of India offers LAP interest rates starting from 9.25% p.a. onwards. The final rate depends on the borrower’s profile, property type, and credit score. For the latest updates, check the Union Bank of India LAP official page.
2. What is the maximum loan amount I can get under Union Bank LAP?
Borrowers can avail up to ₹5 crore depending on their property value, repayment capacity, and eligibility.
3. How do I apply online for a Union Bank of India Loan Against Property?
You can apply through the Union Bank of India Loan Against Property online application. Alternatively, you can apply via CreditCares for faster processing, documentation support, and comparison with multiple lenders.
4. What documents are required for the Union Bank of India LAP?
Applicants need to provide KYC documents, income proof, business proof (for self-employed), and property documents. A detailed checklist is available in our Union Bank of India LAP Documentation Guide.
5. Can I use the Union Bank of India EMI Calculator to check monthly repayments?
Yes, Union Bank offers an EMI calculator on its portal. However, for quick results and comparisons, you can use the CreditCares EMI Calculator to estimate EMIs based on loan amount, tenure, and interest rate.
6. What is the tenure for the Union Bank of India Loan Against Property?
The repayment tenure goes up to 15 years, depending on the loan type and the borrower’s eligibility.
Conclusion
Union Bank of India’s Loan Against Property is a smart financing solution for individuals and businesses seeking large funds at affordable interest rates. With competitive rates starting from 9.25% p.a., flexible repayment tenure of up to 15 years, and multiple loan variants like Lease Rental Discounting and overdraft facilities, it is one of the most reliable mortgage loan options in 2025.
However, choosing the right loan involves more than just comparing rates—it requires expert guidance on eligibility, documentation, and EMI planning. That’s where we step in.
👉 Apply through CreditCares to get end-to-end assistance, from comparing Union Bank’s LAP with other top lenders, to document preparation, to securing the best possible deal quickly and seamlessly.
💡 Don’t delay your financial growth.
Apply Online for Union Bank of India Loan Against Property today—or let CreditCares guide you to the most optimized LAP solution.
