BoB vs Union Balance Transfer, 2026.
Reviewed by Jay Patel· Last reviewed: stale
A ledger-columns read on Bank of Baroda and Union Bank— rate, EMI, fee, fine print. Which one wins your file, not the pitch deck.
BoB vs Union — Balance Transfer Comparison
Key parameters compared side by side.
| Parameter | BoB | Union |
|---|---|---|
| Interest Rate (p.a.) | 8.25% – 9% | 8.3% – 9.1% |
| Processing Fee | 0.25% (max Rs 7,500) | 0.50% (max Rs 10,000) |
| Max Loan Amount | Rs 10 Cr | Rs 5 Cr |
| Max Tenure | 30 Years | 30 Years |
| Bank Type | Public Sector | Public Sector |
| Founded | 1908 | 1919 |
| Headquarters | Vadodara | Mumbai |
Interest Rate (p.a.)
BoB
8.25% – 9%
Union
8.3% – 9.1%
Lower/better: BoB
Processing Fee
BoB
0.25% (max Rs 7,500)
Union
0.50% (max Rs 10,000)
Max Loan Amount
BoB
Rs 10 Cr
Union
Rs 5 Cr
Lower/better: BoB
Max Tenure
BoB
30 Years
Union
30 Years
Bank Type
BoB
Public Sector
Union
Public Sector
Founded
BoB
1908
Union
1919
Headquarters
BoB
Vadodara
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 lowest rate.
BoB
Union
Savings: Choosing BoB saves you approximately ₹157 per month, or ₹37,680 in total interest over the loan tenure.
Feature Comparison
Key features offered by BoB and Union for balance transfer.
| Feature | BoB | Union |
|---|---|---|
| Lowest BT processing fee | ||
| Top-up facility | ||
| Fast track for Govt employees | ||
| No hidden charges | ||
| Attractive BT rates | ||
| Top-up available | ||
| Dedicated BT processing | ||
| Minimal documentation |
Lowest BT processing fee
Top-up facility
Fast track for Govt employees
No hidden charges
Attractive BT rates
Top-up available
Dedicated BT processing
Minimal documentation
Which Is Better — BoB or Union?
It depends on your priorities. Here is a quick guide.
Choose BoB If...
- Lower starting interest rate (8.25% vs 8.3%)
- Higher max loan amount (Rs 10 Cr vs 5 Cr)
- Government-backed (public sector bank)
- Lower maximum rate (9% vs 9.1%)
Choose Union If...
- Government-backed (public sector bank)
Still unsure? Contact Money Matrix Hub for a free personalised recommendation based on your income, credit score, and loan requirement.
Eligibility Comparison
General eligibility criteria for balance transfer at both banks.
BoB 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.
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 BoB vs Union balance transfer.
Which bank has a lower balance transfer interest rate in 2026 — BoB or Union?
BoB currently offers a lower starting rate of 8.25% p.a. for balance transfer. However, the actual rate you receive depends on your credit score, income, and loan amount. Money Matrix Hub can help you get the best negotiated rate from both banks.
What is the maximum balance transfer amount I can get from BoB vs Union?
BoB offers a higher maximum loan amount of up to Rs 10 Cr. BoB 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 — BoB or Union?
BoB charges a processing fee of 0.25% (max Rs 7,500), while Union charges 0.50% (max Rs 10,000). Processing fees are often negotiable, and Money Matrix Hub can help waive or reduce these charges.
Should I choose BoB or Union for balance transfer in 2026?
The best choice depends on your specific needs. BoB offers rates from 8.25%–9% 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 BoB and Union?
Yes. Money Matrix Hub is an authorised DSA partner for both BoB and Union. We can submit parallel applications at no extra cost and help you pick the best sanction offer. Our service is 100% free for borrowers.
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