ICICI vs Union Loan Against Property, 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 — Loan Against Property Comparison
Key parameters compared side by side.
| Parameter | ICICI | Union |
|---|---|---|
| Interest Rate (p.a.) | 9% – 11.5% | 8.9% – 11% |
| Processing Fee | 1.00% (max Rs 1,00,000) | 0.50% (max Rs 50,000) |
| Max Loan Amount | Rs 8 Cr | Rs 5 Cr |
| Max Tenure | 18 Years | 15 Years |
| Bank Type | Private Sector | Public Sector |
| Founded | 1994 | 1919 |
| Headquarters | Mumbai | Mumbai |
Interest Rate (p.a.)
ICICI
9% – 11.5%
Union
8.9% – 11%
Lower/better: Union
Processing Fee
ICICI
1.00% (max Rs 1,00,000)
Union
0.50% (max Rs 50,000)
Max Loan Amount
ICICI
Rs 8 Cr
Union
Rs 5 Cr
Lower/better: ICICI
Max Tenure
ICICI
18 Years
Union
15 Years
Lower/better: ICICI
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 30 Lakh LAP for 15 years at each bank's listed starting rate.
ICICI
Union
Savings: Choosing Union saves you approximately ₹178 per month, or ₹32,040 in total interest over the loan tenure.
Feature Comparison
Key features offered by ICICI and Union for loan against property.
| Feature | ICICI | Union |
|---|---|---|
| Up to 65% LTV | ||
| Industrial property also accepted | ||
| Flexi repayment option | ||
| Dedicated MSME team | ||
| Up to 60% LTV | ||
| Competitive rates | ||
| Quick turnaround | ||
| Both property types accepted |
Up to 65% LTV
Industrial property also accepted
Flexi repayment option
Dedicated MSME team
Up to 60% LTV
Competitive rates
Quick turnaround
Both property types accepted
Which Is Better — ICICI or Union?
It depends on your priorities. Here is a quick guide.
Choose ICICI If...
- Higher max loan amount (Rs 8 Cr vs 5 Cr)
- Longer max tenure (18 yrs vs 15 yrs)
Choose Union If...
- Lower starting interest rate (8.9% vs 9%)
- Government-backed (public sector bank)
- Lower maximum rate (11% vs 11.5%)
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 loan against property at both banks.
ICICI Eligibility
- Property must be free from encumbrance
- CIBIL score: 700+ preferred
- Salaried or self-employed applicants
- Min income: Rs 30,000 per month
- Age: 21–65 years at loan maturity
Criteria may vary. Contact Money Matrix Hub for exact eligibility assessment.
Union Eligibility
- Property must be free from encumbrance
- CIBIL score: 650+ preferred
- Salaried or self-employed applicants
- Min income: Rs 25,000 per month
- Age: 21–65 years at loan maturity
Criteria may vary. Contact Money Matrix Hub for exact eligibility assessment.
Frequently Asked Questions
Common questions about ICICI vs Union loan against property.
Which bank has a lower loan against property interest rate in 2026 — ICICI or Union?
Union currently shows a lower published starting rate of 8.9% p.a. for loan against property. 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 loan against property amount I can get from ICICI vs Union?
ICICI offers a higher maximum loan amount of up to Rs 8 Cr. ICICI offers up to Rs 8 Cr while Union offers up to Rs 5 Cr for loan against property.
Which bank charges a lower processing fee for loan against property — ICICI or Union?
ICICI lists a processing fee of 1.00% (max Rs 1,00,000), while Union lists 0.50% (max Rs 50,000). 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 loan against property in 2026?
The best choice depends on your specific needs. ICICI offers rates from 9%–11.5% with a max tenure of 18 years, while Union offers 8.9%–11% with 15 years tenure. Contact Money Matrix Hub for a personalised comparison based on your profile.
Can Money Matrix Hub help me apply for a loan against property 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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