Union Bank of India Home Loan in Maharashtra.

Quick answer: Union Bank of India home loan rate in Maharashtra: 8.5-10.5% (typical 8.75%). Average Maharashtra home loan ticket: ₹72.00 L. State stamp duty: 6% (~₹4.32 L extra). Typical EMI on a 20-year loan: ₹63,627/month.

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EMI Calculator

Live

Loan Amount

₹

₹25.00 L

Interest Rate (p.a.)

Tenure (years)

Monthly EMI

₹21,696

/month

Total Interest

₹27.07 L

52% of total

Total Payable

₹52.07 L

over 20 years

Principal vs Interest Split

48% principal

52% interest

✨ Live · For home, personal, auto, education loans · Excludes processing fees

📍 Union Bank of India in Maharashtra

Union Bank of India's Maharashtra positioning.

Union Bank is headquartered in Mumbai with its largest branch concentration across Maharashtra. Post-Andhra Bank and Corporation Bank merger, Union has 1,180+ Maharashtra branches and dominates PSU lending in BKC, Lower Parel, Nariman Point corporate corridors. Rates 8.45-8.85%.

Union Bank of India branches in Maharashtra

1180+

Maharashtra stamp duty

of property value

Avg loan ticket

₹72.00 L

in Maharashtra

💡 Why this combination is interesting

Union Bank's Maharashtra home loan book is the largest of any PSU after SBI because the bank treats Mumbai as its HQ market with aggressive pricing for salaried CIBIL 800+ files. Mumbai's 6% stamp duty (5% state + 1% BMC LBT) on a 72L typical Mumbai ticket means Rs 4.32L registration cost — Union's top-up loan is often used to bridge this. Lower Parel, BKC, and Nariman Point salaried-employee corridors get the 8.45% floor rate, while Pune Hinjewadi-Kharadi IT salaried customers get 8.50-8.65%. The bank's Union Vyom app gives instant in-principle approval for CIBIL 750+ salary customers, a key competitive feature against ICICI and HDFC in Mumbai.

🧾 Maharashtra tax context

How Maharashtra taxes affect your Union Bank of India EMI.

Professional Tax (Maharashtra)

₹200/month (₹2400/year). Reduces net take-home pay, affecting EMI affordability calculations.

HRA tier (Section 10(13A))

Maharashtra Mumbai is HRA tier-1 metro: 50% of basic salary as HRA exemption. Best tier — meaningful tax saving on rent.

❓ FAQ

Union Bank of India in Maharashtra — common questions.

Which Mumbai corporate parks have Union Bank salary tie-ups?

BKC, Lower Parel (One BKC, Indiabulls Finance Centre), Nariman Point, Powai (Hiranandani), Andheri SEEPZ, and Pune's Hinjewadi and Kharadi IT parks all have direct salary-account tie-ups with Union Bank.

EMI on 72L Union Bank loan in Mumbai at 8.55% over 25 years?

72,00,000 at 8.55% for 300 months works out to roughly Rs 58,201 EMI. Total interest is around Rs 1.02Cr over 25 years. Maharashtra stamp duty on 72L Mumbai property is Rs 4.32L at the 6% slab including BMC LBT.

Can I avoid the 1% BMC LBT by buying in Navi Mumbai or Thane?

Yes. Navi Mumbai (under NMMC) and Thane (TMC) do not levy the 1% BMC LBT, so effective stamp duty is 5% instead of 6%. On a 70L property, that's a Rs 70K saving — material for Union Bank customers on tight budgets.

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