ICICI vs Union Home Loan, 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 — Home Loan Comparison
Key parameters compared side by side.
| Parameter | ICICI | Union |
|---|---|---|
| Interest Rate (p.a.) | 8.35% – 9.3% | 8.3% – 9.2% |
| Processing Fee | 0.50% (min Rs 3,000, max Rs 10,000) | 0.50% (max Rs 15,000) |
| 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% – 9.3%
Union
8.3% – 9.2%
Lower/better: Union
Processing Fee
ICICI
0.50% (min Rs 3,000, max Rs 10,000)
Union
0.50% (max Rs 15,000)
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 home loan 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 home loan.
| Feature | ICICI | Union |
|---|---|---|
| iMobile instant eligibility | ||
| Doorstep document pickup | ||
| No hidden charges | ||
| Special offer for NRI customers | ||
| Union Home scheme | ||
| Special rate for defence personnel | ||
| No prepayment penalty | ||
| Wide branch network |
iMobile instant eligibility
Doorstep document pickup
No hidden charges
Special offer for NRI customers
Union Home scheme
Special rate for defence personnel
No prepayment penalty
Wide branch network
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 (9.2% vs 9.3%)
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 home loan 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 home loan.
Which bank has a lower home loan interest rate in 2026 — ICICI or Union?
Union currently shows a lower published starting rate of 8.3% p.a. for home loan. 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 home loan 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 home loan.
Which bank charges a lower processing fee for home loan — ICICI or Union?
ICICI lists a processing fee of 0.50% (min Rs 3,000, max Rs 10,000), while Union lists 0.50% (max Rs 15,000). 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 home loan in 2026?
The best choice depends on your specific needs. ICICI offers rates from 8.35%–9.3% with a max tenure of 30 years, while Union offers 8.3%–9.2% 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 home loan 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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