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Union Bank of India announced reduction in its home loan interest rates with minimum rate of interest now starting at 6.40 per cent. The reduced rate will be effective from October 27.

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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,” a statement from the bank said.

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