Kotak vs Union Balance Transfer, 2026.
Reviewed by Jay Patel· Last reviewed:
A ledger-columns read on Kotak Mahindra Bank and Union Bank— rate, EMI, fee, fine print. Which one wins your file, not the pitch deck.
Kotak vs Union — Balance Transfer Comparison
Key parameters compared side by side.
| Parameter | Kotak | Union |
|---|---|---|
| Interest Rate (p.a.) | 8.45% – 9.25% | 8.3% – 9.1% |
| Processing Fee | 0.50% (max Rs 10,000) | 0.50% (max Rs 10,000) |
| Max Loan Amount | Rs 5 Cr | Rs 5 Cr |
| Max Tenure | 20 Years | 30 Years |
| Bank Type | Private Sector | Public Sector |
| Founded | 1985 | 1919 |
| Headquarters | Mumbai | Mumbai |
Interest Rate (p.a.)
Kotak
8.45% – 9.25%
Union
8.3% – 9.1%
Lower/better: Union
Processing Fee
Kotak
0.50% (max Rs 10,000)
Union
0.50% (max Rs 10,000)
Max Loan Amount
Kotak
Rs 5 Cr
Union
Rs 5 Cr
Max Tenure
Kotak
20 Years
Union
30 Years
Lower/better: Union
Bank Type
Kotak
Private Sector
Union
Public Sector
Founded
Kotak
1985
Union
1919
Headquarters
Kotak
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.
Kotak
Union
Savings: Choosing Union saves you approximately ₹473 per month, or ₹1,13,520 in total interest over the loan tenure.
Feature Comparison
Key features offered by Kotak and Union for balance transfer.
| Feature | Kotak | Union |
|---|---|---|
| Competitive BT rates | ||
| Top-up available | ||
| 3-day file processing | ||
| Free valuation | ||
| Attractive BT rates | ||
| Dedicated BT processing | ||
| Minimal documentation |
Competitive BT rates
Top-up available
3-day file processing
Free valuation
Attractive BT rates
Dedicated BT processing
Minimal documentation
Which Is Better — Kotak or Union?
It depends on your priorities. Here is a quick guide.
Choose Kotak If...
- Trusted brand with strong balance transfer offerings
Choose Union If...
- Lower starting interest rate (8.3% vs 8.45%)
- Longer max tenure (30 yrs vs 20 yrs)
- Government-backed (public sector bank)
- Lower maximum rate (9.1% vs 9.25%)
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.
Kotak 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 Kotak vs Union balance transfer.
Which bank has a lower balance transfer interest rate in 2026 — Kotak 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 Kotak vs Union?
Kotak offers a higher maximum loan amount of up to Rs 5 Cr. Kotak offers up to Rs 5 Cr while Union offers up to Rs 5 Cr for balance transfer.
Which bank charges a lower processing fee for balance transfer — Kotak or Union?
Kotak lists a processing fee of 0.50% (max Rs 10,000), 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 Kotak or Union for balance transfer in 2026?
The best choice depends on your specific needs. Kotak offers rates from 8.45%–9.25% with a max tenure of 20 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 Kotak and Union?
Money Matrix Hub can help you compare available lender information for Kotak 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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