ICICI vs Union Balance Transfer, 2026.
Reviewed by Jay Patel· Last reviewed:
A ledger-columns read on ICICI Bank and Union Bank— rate, EMI, fee, fine print. Which one wins your file, not the pitch deck.
ICICI vs Union — Balance Transfer Comparison
Key parameters compared side by side.
| Parameter | ICICI | Union |
|---|---|---|
| Interest Rate (p.a.) | 8.35% – 9.15% | 8.3% – 9.1% |
| Processing Fee | 0.50% (max Rs 15,000) | 0.50% (max Rs 10,000) |
| Max Loan Amount | Rs 10 Cr | Rs 5 Cr |
| Max Tenure | 30 Years | 30 Years |
| Bank Type | Private Sector | Public Sector |
| Founded | 1994 | 1919 |
| Headquarters | Mumbai | Mumbai |
Interest Rate (p.a.)
ICICI
8.35% – 9.15%
Union
8.3% – 9.1%
Lower/better: Union
Processing Fee
ICICI
0.50% (max Rs 15,000)
Union
0.50% (max Rs 10,000)
Max Loan Amount
ICICI
Rs 10 Cr
Union
Rs 5 Cr
Lower/better: ICICI
Max Tenure
ICICI
30 Years
Union
30 Years
Bank Type
ICICI
Private Sector
Union
Public Sector
Founded
ICICI
1994
Union
1919
Headquarters
ICICI
Mumbai
Union
Mumbai
Rates as of April 2026. Subject to change based on RBI policy and bank revisions.
EMI Comparison
Estimated EMI for Rs 50 Lakh balance transfer for 20 years at each bank's listed starting rate.
ICICI
Union
Savings: Choosing Union saves you approximately ₹158 per month, or ₹37,920 in total interest over the loan tenure.
Feature Comparison
Key features offered by ICICI and Union for balance transfer.
| Feature | ICICI | Union |
|---|---|---|
| Up to 30% top-up | ||
| Online BT application | ||
| Salaried processing depends on lender assessment | ||
| Legal and valuation charges vary | ||
| Attractive BT rates | ||
| Top-up available | ||
| Dedicated BT processing | ||
| Minimal documentation |
Up to 30% top-up
Online BT application
Salaried processing depends on lender assessment
Legal and valuation charges vary
Attractive BT rates
Top-up available
Dedicated BT processing
Minimal documentation
Which Is Better — ICICI or Union?
It depends on your priorities. Here is a quick guide.
Choose ICICI If...
- Higher max loan amount (Rs 10 Cr vs 5 Cr)
Choose Union If...
- Lower starting interest rate (8.3% vs 8.35%)
- Government-backed (public sector bank)
- Lower maximum rate (9.1% vs 9.15%)
Need context for this comparison? Contact Money Matrix Hub to discuss the displayed lender information. Any service terms and lender decisions should be confirmed before proceeding.
Eligibility Comparison
General eligibility criteria for balance transfer at both banks.
ICICI Eligibility
- CIBIL score: 700+ preferred
- Min income: Rs 25,000 per month (salaried)
- Self-employed: 3+ years of business vintage
- Age: 21–65 years (salaried), 25–70 years (self-employed)
- Indian resident or NRI (with conditions)
Criteria may vary. Contact Money Matrix Hub for exact eligibility assessment.
Union Eligibility
- CIBIL score: 650+ preferred
- Min income: Rs 20,000 per month (salaried)
- Self-employed: 3+ years of business vintage
- Age: 21–65 years (salaried), 25–70 years (self-employed)
- Indian resident or NRI (with conditions)
Criteria may vary. Contact Money Matrix Hub for exact eligibility assessment.
Frequently Asked Questions
Common questions about ICICI vs Union balance transfer.
Which bank has a lower balance transfer interest rate in 2026 — ICICI or Union?
Union currently shows a lower published starting rate of 8.3% p.a. for balance transfer. However, the actual rate you receive depends on lender eligibility, current documentation, credit score, income, and loan amount. Money Matrix Hub can help you compare available lender information from both banks.
What is the maximum balance transfer amount I can get from ICICI vs Union?
ICICI offers a higher maximum loan amount of up to Rs 10 Cr. ICICI offers up to Rs 10 Cr while Union offers up to Rs 5 Cr for balance transfer.
Which bank charges a lower processing fee for balance transfer — ICICI or Union?
ICICI lists a processing fee of 0.50% (max Rs 15,000), while Union lists 0.50% (max Rs 10,000). Fees and waivers can depend on lender policy and borrower eligibility, so confirm the current Key Fact Statement before accepting an offer.
Should I choose ICICI or Union for balance transfer in 2026?
The best choice depends on your specific needs. ICICI offers rates from 8.35%–9.15% with a max tenure of 30 years, while Union offers 8.3%–9.1% with 30 years tenure. Contact Money Matrix Hub for a personalised comparison based on your profile.
Can Money Matrix Hub help me apply for a balance transfer from both ICICI and Union?
Money Matrix Hub can help you compare available lender information for ICICI and Union. Any application, credit enquiry, offer, sanction decision, lender fee, and borrower charge are subject to the relevant lender's current policy and documentation.
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