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

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

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