Does Union Bank of India reduces Interest rate for home loan when RBI decreases it ?

POSTED BY amitpuja ON February 22, 2014 10:12 am ONE COMMENT

Hi,

Can you please provide me review of Union Bank of India. I want to know if they reduce ROI if RBI reduces Repo Rate?

Also, property insurance seems to be compulsary. Can you please let me know how they decide on property insurance cost? I have bought a resale flat, the first owner bought the flat at 11 lakhs in 2005, while the price I bought is 70 lakhs last year (taken home loan from hdfc ltd).

Thanks,

Amit

One reply on this article “Does Union Bank of India reduces Interest rate for home loan when RBI decreases it ?”

  1. ashalanshu says:

    Dear Amit, are you planning to switch your home loan from HDFC to Union Bank? My personal take ‘ll be to opt SBI. As all new home loans from all banks are now base rate linked hence as and when a bank ‘ll change it’s base rate, the impact ‘ll be there in your home loan rate.

    Thanks

    Ashal

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