Union Bank of India Presents Exciting Loan Discounts and Waived Processing Fees

Following the Reserve Bank of India’s decision to maintain the repo rate, Union Bank of India, a prominent public sector bank, brings forth uplifting news for its customers.

In a bid to enhance customer experiences, the bank has introduced a remarkable incentive – a 100% waiver on processing fees for new customers with a credit score of 700 and above.

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This exceptional offer extends to home loans, auto loans, and two-wheeler loans.

Seize the Opportunity: Zero Processing Fees on Home and Car Loans

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Aspiring homeowners and car enthusiasts, this is your moment! Union Bank of India is rolling out a unique proposition – a complete waiver on processing fees for both home and car loans.

This golden opportunity is available from August 16, 2023, to November 15, 2023.

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The waiver extends to processing fees even for customers transferring their home loans from other banks and financial institutions, further enhancing the appeal of this offer.

Leverage Attractive FD Rates and Tax-Saving Benefits

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Union Bank of India is providing the general public an enticing interest rate range of 3% to 7% per annum on Fixed Deposits (FDs) spanning 7 days to 10 years.

Senior citizens can enjoy even higher returns, with rates ranging from 3.50% to 7.50% per annum.


The bank’s tax-saving FD, spanning 5 to 10 years, offers a competitive interest rate of 6.70% per annum for the general public and 7.20% per annum for senior citizens, enhancing savings and investment options.

Bank of Maharashtra Joins the Initiative


Bank of Maharashtra (BOM) is also prioritizing customer benefits by reducing home and car loan interest rates by up to 20 basis points.

In a doubly advantageous move, the bank has eliminated the processing fee for its customers as well.

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The revised rates now offer home loans from 8.50% to 8.60% and car loans with a lowered rate of 8.70%.

These revised rates came into effect from August 14th, aiming to relieve customers of financial burdens while providing competitive borrowing rates.

The recent offerings from Union Bank of India and Bank of Maharashtra underline the commitment of these financial institutions to deliver value and financial relief to their customers, in line with the dynamic economic landscape.

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