New Delhi, Oct 26 (PTI) State-owned Union Bank on Tuesday announced reducing its home loan rates to its all-time low of 6.40 per cent.

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The reduced rate will be effective from 27th October 2021.

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Union Bank of India announces reduction in its home loan interest rates with minimum rate of interest now starting at 6.40 per cent, the bank said in a release. Union Bank said it is the all-time low rate for home loans for the bank.

The new rates will be applicable to customers applying for new loans or those who wish to transfer their existing loans including balance transfers.

"Customers will be benefited from this offering during the festive season as we see a rising demand for buying homes. With this reduced rate of interest, Union Bank of India's Home Loan rate is the most competitive in the industry," it said.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)