🇮🇳 India

Union Bank of India

Punjab 245+ branches

Union Bank of India Home Loan in Punjab.

Quick answer: Union Bank of India home loan rate in Punjab: 8.5-10.5% (typical 8.75%). Average Punjab home loan ticket: ₹25.00 L. State stamp duty: 7% (~₹1.75 L extra). Typical EMI on a 20-year loan: ₹22,093/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 Punjab

Union Bank of India's Punjab positioning.

Union Bank of India runs about 245 branches across Punjab, concentrated in Ludhiana, Amritsar, Jalandhar, Patiala, Mohali and Bathinda. The bank serves Punjab government employees, Ludhiana cycle and hosiery industry families, and NRI-funded property purchases in Mohali and Amritsar. GMADA approved Mohali Sectors 88-91 and Ludhiana BRS Nagar apartments around Rs 30-40 lakh lead originations.

Union Bank of India branches in Punjab

245+

Punjab stamp duty

of property value

Avg loan ticket

₹25.00 L

in Punjab

💡 Why this combination is interesting

Punjab charges 7 percent stamp duty with a 1 percent women-buyer concession. Union Bank is well-positioned in the Punjab NRI segment with its Pravasi Union Home Loan, which accepts NRE-funded down payments and recognises Canadian, UK and US salary slips. A meaningful share of Mohali GMADA originations come from Canada-based Doaba Punjabi families. The bank also offers an attractive Union Awas Plus product for ready-to-move properties above Rs 50 lakh with a 5 bps standard concession over RLLR, helping Mohali Sector 88-91 high-rise buyers in the Rs 60-80 lakh band.

🧾 Punjab tax context

How Punjab taxes affect your Union Bank of India EMI.

Professional Tax (Punjab)

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

HRA tier (Section 10(13A))

Punjab Chandigarh is HRA tier-2 non-metro: 40% of basic salary as HRA exemption. Lower than metros — limits HRA benefit despite local rent costs.

❓ FAQ

Union Bank of India in Punjab — common questions.

What is the EMI on a Rs 25 lakh Union Bank Punjab home loan at 8.45 percent for 20 years?

A Rs 25 lakh Union Awas Home Loan at 8.45 percent over 240 months gives an EMI of approximately Rs 21,590. Total interest is Rs 26.81 lakh, with total outgo of Rs 51.81 lakh. Ludhiana and Mohali salaried borrowers earning Rs 50,000+ monthly comfortably qualify under the 50 percent FOIR norm.

How much stamp duty applies on a Rs 35 lakh Mohali GMADA flat for a woman buyer?

Punjab charges 7 percent stamp duty for men and 6 percent for women. On a Rs 35 lakh Mohali GMADA flat with wife as first owner, women buyers pay Rs 2.10 lakh stamp duty versus Rs 2.45 lakh for men, plus 1 percent registration of Rs 35,000 in both cases. Net saving for women is Rs 35,000 upfront.

Does Union Bank offer Pravasi Home Loan for Canada-based Punjabi NRIs?

Yes, Pravasi Union Home Loan accepts applications from Canada, UK, USA and Gulf-based NRIs with two years of overseas salary documentation attested by Indian missions. Tenure is capped at 15 years and minimum 25 percent down payment must come from NRE or FCNR accounts. On a Rs 35 lakh NRI loan over 15 years at 8.65 percent, EMI is approximately Rs 34,820.

Union Bank of India Home Loan in Punjab.

EMI Calculator

Union Bank of India's Punjab positioning.

How Punjab taxes affect your Union Bank of India EMI.

Union Bank of India in Punjab — common questions.

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Union Bank of India in other states

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