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 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.