Union Bank home loans up to Rs 50 lakh @ 8%

The scheme will be applicable for loans taken up to September 30, 2009, Union bank said in a release. After one year, the rate will go back to floating rates till the loan is fully repaid, the bank said.

Leading state-owned banks, State Bank of India [ Get Quote ] and Central Bank of India had earlier launched similar schemes offering eight per cent fixed rate for home loan borrowers for the first one year.