Key takeaways: Chola vs SBI vs Union Bank of India
- Union Bank of India advertises the lowest starting car loan rate here, 7.60%, compared with 9% at Chola and 8.40% at SBI.
- On a two-wheeler loan, Union Bank of India has the lowest published starting rate at 11.10%, against 15% at Chola and 11.70% at SBI.
- All of them publish a numeric starting rate for: car loan and two-wheeler loan. That is the part of this page you can rank like for like.
- No numeric starting rate on the loan provider's own site: Chola for personal loan and home loan and Union Bank of India for personal loan. We show "Not published" instead of estimating.
- A starting rate is the best case. Ask each loan provider for its Key Fact Statement and compare the APR and total repayable amount before you choose.
Quick verdict: who each loan provider suits
Built only from figures the loan providers publish. It says where each loan provider is ahead on paper, not who will approve you.
Where Chola stands
No clear edge on the published figures we could compare. Check the product sections below and the Key Fact Statement.
Pick SBI if you want
- The widest range of loan types with a published rate (6)
Pick Union Bank of India if you want
- The lower published starting car loan rate (7.60%)
- The lower published starting two-wheeler loan rate (11.10%)
Chola vs SBI vs Union Bank of India at a glance
| Detail | Chola | SBI | Union Bank of India |
|---|---|---|---|
| Loan provider type | NBFC | Public sector bank | Public sector bank |
| Legal name | Cholamandalam Investment and Finance Company Limited | State Bank of India | Union Bank of India |
| Loan types with a published rate | Car loan, Two-wheeler loan | Personal loan, Home loan, Gold loan, Education loan, Car loan, Two-wheeler loan | Home loan, Car loan, Two-wheeler loan |
| Personal loan: published rate | Not published | Starting from 10.00% p.a. (T&C apply); scheme range 10.00% to 15.00% | EBLR + 1.05% to EBLR + 4.35% (salaried); EBLR + 1.10% to +4.65% (non-salaried), by CIC score (w.e.f. 08.10.2026 |
| Personal loan: maximum tenure | Not published | 84 months | Not published |
| Home loan: published rate | Not published | 7.25% p.a. onwards (T&C apply), w.e.f. 01.04.2026 | Starts at 8.60% p.a.; EBLR - 0.85% (CIC 825+) to EBLR + 1.35% (CIC 600-649) per rate PDF w.e.f. 08.10.2026 |
| Home loan: maximum tenure | Not published | Up to 30 years; repayment to be completed by age 70 | Not published |
| Official website | chola.com | sbi.bank.in | unionbankofindia.bank.in |
Searching for Union Bank of India vs SBI vs Chola instead? It is the same comparison, so both open this page.
Chola vs SBI vs Union Bank of India personal loan: rate, fees and tenure
Only SBI publishes a numeric starting rate for this product, so a like-for-like ranking is not possible. Union Bank of India does not publish a numeric starting rate for this product on its site. Chola has no personal loan terms we could verify on its official site.
| Detail | Chola | SBI | Union Bank of India |
|---|---|---|---|
| Published rate | Not published | Starting from 10.00% p.a. (T&C apply); scheme range 10.00% to 15.00% | EBLR + 1.05% to EBLR + 4.35% (salaried); EBLR + 1.10% to +4.65% (non-salaried), by CIC score (w.e.f. 08.10.2026 |
| Rate basis | Not published | 2-year MCLR (8.75%) + spread 1.25% to 6.25% | EBLR (repo-linked) |
| Loan amount | Not published | Rs 1 lakh to Rs 50 lakh (subject to EMI/NMI up to 65% and 30 times NMI, whichever is lower) | Not published |
| Maximum tenure | Not published | 84 months | Not published |
| Processing fee | Not published | Up to 1.50% of loan amount (min Rs 1,000, max Rs 15,000) + GST; waivers for some customers | Not published |
| Prepayment / foreclosure | Not published | 2% of prepaid amount; waivers for some categories | Not published |
| Eligibility (as published) | Not published | Age 21-60; min net monthly salary Rs 20,000 (govt/defence) or Rs 25,000 (corporate); no minimum CIBIL stated | Schemes for salaried, non-salaried with regular income, government employees, women professionals |
| Other terms published | Not published |
|
|
| Official source | Not published | sbi.bank.in/web/personal-banking/loans/personal-loans/sbi-personal-loan sbi.bank.in/web/interest-rates/interest-rates/loan-schemes-interest-rates/personal-loans-schemes | unionbankofindia.bank.in/en/listing/personal-loan unionbankofindia.bank.in/pdf/retail_roi.pdf |
Read the full guide: Personal loan
Chola vs SBI vs Union Bank of India home loan: rate, fees and tenure
Starting home loan rates as published: SBI from 7.25% and Union Bank of India from 8.60%. SBI is lower at the starting rate, but the top of each range and your own credit profile decide what you are offered. Chola has no home loan terms we could verify on its official site.
| Detail | Chola | SBI | Union Bank of India |
|---|---|---|---|
| Published rate | Not published | 7.25% p.a. onwards (T&C apply), w.e.f. 01.04.2026 | Starts at 8.60% p.a.; EBLR - 0.85% (CIC 825+) to EBLR + 1.35% (CIC 600-649) per rate PDF w.e.f. 08.10.2026 |
| Rate basis | Not published | Floating, linked to Repo Rate via EBLR; interest on daily reducing balance | EBLR (repo-linked); fixed option max 5 years at 11.40% to 12.65% |
| Maximum tenure | Not published | Up to 30 years; repayment to be completed by age 70 | Not published |
| Processing fee | Not published | 0.35% of loan amount + GST, min Rs 2,000 max Rs 10,000 (FAQ page) | Not published |
| Prepayment / foreclosure | Not published | Prepayment allowed without penalty | None; no prepayment penalty on Union Home Loan |
| Eligibility (as published) | Not published | Resident of India or NRI; min age 18; EMI/NMI ratio 20% to 70% by income slab | Based on income, repayment capacity, age, margin, credit bureau record |
| Other terms published | Not published |
|
|
| Official source | Not published | sbi.bank.in/web/interest-rates/interest-rates/loan-schemes-interest-rates/home-loans-interest-rates-current homeloans.sbi.bank.in/faq homeloans.sbi.bank.in/downloads/Processing-Fee-Card-Rates.pdf | unionbankofindia.bank.in/en/details/home-loan-interest-rate unionbankofindia.bank.in/en/details/home-loan unionbankofindia.bank.in/pdf/retail_roi.pdf |
EMI illustration: ₹50 lakh over 20 years
| Loan provider | Rate used | Monthly EMI | Total interest | Total repayable |
|---|---|---|---|---|
| SBI | 7.25% | ₹39,519 | ₹44,84,512 | ₹94,84,512 |
| Union Bank of India | 8.60% | ₹43,708 | ₹54,89,953 | ₹1,04,89,953 |
Illustration only, at each loan provider's lowest published rate. It leaves out processing fees, GST, insurance and any other charges, and it is not an offer. Your approved rate may be higher.
Read the full guide: Home loan
Chola vs SBI vs Union Bank of India loan against property: rate, fees and tenure
None of these loan providers publishes a plain starting rate for a loan against property; some tie the rate to a benchmark and add a spread, which is shown in the table as published. SBI and Union Bank of India do not publish a numeric starting rate for this product on their site. Chola has no loan against property terms we could verify on its official site.
| Detail | Chola | SBI | Union Bank of India |
|---|---|---|---|
| Published rate | Not published | Not published | EBLR + 1.05% to EBLR + 3.85% by property type and CIC score (w.e.f. 08.10.2026) |
| Rate basis | Not published | Interest on daily reducing balance (rate not stated on fetched pages) | EBLR (repo-linked) |
| Maximum tenure | Not published | Up to 15 years (P-LAP) | Not published |
| Processing fee | Not published | P-LAP page: 1% of loan amount + tax, capped at Rs 50,000. Fee page: Loan against Mortgage of Immovable Property 1.01% of loan… | Not published |
| Prepayment / foreclosure | Not published | No prepayment penalty | Not published |
| Eligibility (as published) | Not published | Resident Indian, age 18 to 70 | Indian citizens owning non-agricultural property with regular income |
| Other terms published | Not published |
|
|
| Official source | Not published | homeloans.sbi.bank.in/products/view/loan-against-property sbi.bank.in/web/interest-rates/interest-rates/processing-fees | unionbankofindia.bank.in/en/details/union-mortgage unionbankofindia.bank.in/pdf/retail_roi.pdf |
Read the full guide: Loan against property
Chola vs SBI vs Union Bank of India gold loan: rate, fees and tenure
Only SBI publishes a numeric starting rate for this product, so a like-for-like ranking is not possible. Union Bank of India does not publish a numeric starting rate for this product on its site. Chola has no gold loan terms we could verify on its official site.
| Detail | Chola | SBI | Union Bank of India |
|---|---|---|---|
| Published rate | Not published | Mean rate 9.25%; 12-month bullet 9.15%, EMI-based 10.10%, overdraft 10.10% (page also lists 10.00% in FAQ) | Union Swarna Shakti (Retail): EBLR + 1.40% (male, 22K) / EBLR + 1.30% (female, 22K); MSME Gold Loan Plus: EBLR + 0.70% |
| Rate basis | Not published | 1-year MCLR (8.70%) + spread 0.45% (bullet) / 1.40% (EMI, OD) | EBLR / MCLR |
| Loan amount | Not published | Rs 20,000 (overdraft Rs 5,00,000) to Rs 1 crore per individual per FAQ (page also cites Rs 50 lakh ceiling) | Up to Rs. 50 lakh (Retail, MSME); Rs. 25 lakh (Krishi Kamdhenu) |
| Maximum tenure | Not published | EMI 36 months; bullet 12 months; overdraft 36 months | Not published |
| Processing fee | Not published | Features table: 0.25%-0.30% + GST with minimums (Rs 250 to Rs 7,500) | Not published |
| Prepayment / foreclosure | Not published | No prepayment penalty; no foreclosure charges | Not published |
| Eligibility (as published) | Not published | Age 18+ with steady income; individuals singly or jointly | Not published |
| Other terms published | Not published |
|
|
| Official source | Not published | sbi.bank.in/web/personal-banking/loans/gold-loan/personal-gold-loans sbi.bank.in/web/interest-rates/interest-rates/processing-fees | unionbankofindia.bank.in/en/listing/gold-loan |
Read the full guide: Gold loan
Chola vs SBI vs Union Bank of India education loan: rate, fees and tenure
Only SBI publishes a numeric starting rate for this product, so a like-for-like ranking is not possible. Union Bank of India does not publish a numeric starting rate for this product on its site. Chola has no education loan terms we could verify on its official site.
| Detail | Chola | SBI | Union Bank of India |
|---|---|---|---|
| Published rate | Not published | Student Loan 9.40% (with collateral) / 9.90% (without collateral up to Rs 7.50 lakh); Scholar Loan 6.90% to 7.65% | EBLR + 2.00% (male) / +1.50% (female) up to Rs.7.50 lakh; EBLR + 1.75% / +1.25% above Rs.7.50 lakh (w.e.f. 08.10.2026) |
| Rate basis | Not published | Floating, linked to External Benchmark Rate (EBR 7.90% = Repo 5.25% + 2.65%) | EBLR |
| Loan amount | Not published | Student Loan: India up to Rs 50 lakh / Rs 75 lakh (medical, NIRF top-100), abroad up to Rs 7.50 lakh | Not published |
| Maximum tenure | Not published | Up to 15 years after course period + 12-month repayment holiday | Repayment generally 5 to 15 years after course (FAQ) |
| Processing fee | Not published | Student Loan: nil up to Rs 10 lakh; Rs 5,000 + GST for Rs 10-20 lakh | Nil |
| Prepayment / foreclosure | Not published | Not published | Not stated |
| Eligibility (as published) | Not published | Indian national with admission to eligible course in India/abroad; parent/guardian co-borrower | Not published |
| Other terms published | Not published |
|
|
| Official source | Not published | sbi.bank.in/web/interest-rates/interest-rates/loan-schemes-interest-rates/education-loan-scheme sbi.bank.in/web/personal-banking/loans/education-loans/student-loan-scheme sbi.bank.in/web/personal-banking/loans/education-loans/scholar-loan-scheme | unionbankofindia.bank.in/en/details/educational-loan-for-india unionbankofindia.bank.in/pdf/retail_roi.pdf |
Read the full guide: Education loan
Chola vs SBI vs Union Bank of India vehicle loans
Union Bank of India advertises the lowest starting car loan rate here, 7.60%, compared with 9% at Chola and 8.40% at SBI. On a two-wheeler loan, Union Bank of India has the lowest published starting rate at 11.10%, against 15% at Chola and 11.70% at SBI.
| Detail | Chola | SBI | Union Bank of India |
|---|---|---|---|
| Car loan: published rate | 9% - 20% p.a. | 8.40% - 9.35% | 7.60% - 10.00% |
| Car loan: maximum tenure | Not published | 7 years | Not published |
| Car loan: processing fee | 0.5% - 2.5% + sourcing fee Rs 1,000 - 2,500 | Rs 1,000-3,000 + GST (salaried) / Rs 1,500-4,000 + GST (non-salaried), slab by loan amount | Flat ₹1,000 |
| Two-wheeler loan: published rate | 15% - 28% p.a. | 11.70% - 15.70% | 11.10% - 11.20% |
| Two-wheeler loan: maximum tenure | Not published | Up to 60 months | Not published |
| Two-wheeler loan: processing fee | 0.75% - 5% + sourcing fee Rs 500 - 2,500 | 3% of loan + GST (50% waiver for salary package customers) | Flat ₹500 |
Full vehicle loan comparison for Chola vs SBI vs Union Bank of India (all vehicle types, EMI tables and sources) · Vehicle loans guide
Which is better: Chola, SBI or Union Bank of India?
No loan provider is best for everyone. This is how the published figures split, product by product.
- Car loan, lower starting rate: Union Bank of India (7.60%) versus 9% at Chola and 8.40% at SBI.
- Two-wheeler loan, lower starting rate: Union Bank of India (11.10%) versus 15% at Chola and 11.70% at SBI.
Pick on total cost, not the headline rate: ask each loan provider for the Key Fact Statement and compare the APR and total repayable amount. A low rate with a high processing fee can cost more than a slightly higher rate with no fee. If you already bank with one of them, a salary or relationship account can change the rate you are offered, so ask.
Bank type and how each loan provider sets its rate
Chola is an NBFC and SBI and Union Bank of India are public sector banks.
How the loan providers' own pages say their rates are set:
- SBI personal loan: 2-year MCLR (8.75%) + spread 1.25% to 6.25%.
- SBI home loan: Floating, linked to Repo Rate via EBLR; interest on daily reducing balance.
- Union Bank of India personal loan: EBLR (repo-linked).
- Union Bank of India home loan: EBLR (repo-linked); fixed option max 5 years at 11.40% to 12.65%.
Public sector banks, private banks and non-banking finance companies (NBFCs) price differently. Banks usually link floating rates to the RBI repo rate or their own benchmark and add a spread based on your credit score; NBFCs more often quote a wider range with a higher ceiling and charge higher processing fees. Some publish a range, some only a starting rate and some only a ceiling, which is why this page compares like with like and marks every gap as not published instead of guessing.
About Chola, SBI and Union Bank of India
Chola
NBFC · Cholamandalam Investment and Finance Company Limited
We could not verify personal, home, business, gold, education or property loan terms on this loan provider's website; its vehicle loan terms are compared below.
SBI
Public sector bank · State Bank of India
We found terms for personal loan, home loan, loan against property, business loan, gold loan and education loan on SBI's website. Where a rate is missing, the tables on this page say Not published.
Lowest published starting rate on this page: 7.25% (Home loan)
Union Bank of India
Public sector bank
We found terms for personal loan, home loan, loan against property, business loan, gold loan and education loan on Union Bank of India's website. Where a rate is missing, the tables on this page say Not published.
Lowest published starting rate on this page: 8.60% (Home loan)
Explore each loan provider: loans, calculators and more comparisons
Chola
More comparisons
SBI
More comparisons
Guides: Personal loans · Home loans · Car loan · Car loan EMI calculator · EMI calculators
What to check before you choose a loan provider
- Ask for the Key Fact Statement (KFS). RBI requires loan providers to give you one before you sign, showing the interest rate, all fees, the APR and the total amount you will repay.
- Compare APR, not the headline rate. Processing fee, documentation charges and insurance change the real cost.
- Check the rate basis. A floating rate moves with the loan provider's benchmark; a fixed rate does not. Ask when the rate resets.
- Ask about prepayment and foreclosure. Floating-rate loans to individuals cannot carry pre-closure charges; fixed-rate loans often do.
- Read the eligibility and documents. Income, credit score, employment type and collateral decide the rate band you land in.
Terms used on this page
Plain meanings of the terms this comparison uses.
Starting rate: The lowest rate a loan provider advertises for a product. Most borrowers are offered a higher rate, because the final rate depends on credit score, income, employer and loan amount.
APR: Annual percentage rate. It adds the processing fee and other charges to the interest rate, so it shows the yearly cost of the loan better than the interest rate alone.
Key Fact Statement: A short summary the loan provider gives you before you sign. It lists the interest rate, every fee, the APR and the total amount you will repay. RBI requires it for retail loans.
Floating rate and repo rate: A floating rate moves with a benchmark, and for banks that is usually the RBI repo rate, the rate at which RBI lends to banks. A fixed rate stays the same for the period you agree.
Processing fee: A one-time charge for handling the application. It is usually a percentage of the loan amount plus GST, and it is often deducted before the money reaches you.
Credit score: A number from 300 to 900 that shows how you have repaid past loans and cards. A higher score usually gets you a lower rate.
Sources, method and last check
Every figure above comes from the loan provider's own website. We checked them on 12 October 2026 (vehicle loan figures on 4 October 2026) and list the pages used.
- Chola: cholamandalam.com/get-new-car-loans · files.cholamandalam.com/files/Interest+Rate+Policy+-+Mar2026.pdf · cholamandalam.com/get-two-wheeler-loans
- SBI: sbi.bank.in/web/personal-banking/loans/personal-loans/sbi-personal-loan · sbi.bank.in/web/interest-rates/interest-rates/loan-schemes-interest-rates/personal-loans-schemes · sbi.bank.in/web/interest-rates/interest-rates/loan-schemes-interest-rates/home-loans-interest-rates-current · homeloans.sbi.bank.in/faq · homeloans.sbi.bank.in/downloads/Processing-Fee-Card-Rates.pdf · homeloans.sbi.bank.in/products/view/loan-against-property
- Union Bank of India: unionbankofindia.bank.in/en/listing/personal-loan · unionbankofindia.bank.in/pdf/retail_roi.pdf · unionbankofindia.bank.in/en/details/home-loan-interest-rate · unionbankofindia.bank.in/en/details/home-loan · unionbankofindia.bank.in/en/details/union-mortgage · unionbankofindia.bank.in/en/details/union-msme-suvidha
| Loan provider | Official pages opened | Loan types with a published rate | Loan types where rate is not published | Last checked |
|---|---|---|---|---|
| Chola | 3 | 2 | 6 | 12 October 2026 |
| SBI | 17 | 6 | 2 | 12 October 2026 |
| Union Bank of India | 10 | 3 | 5 | 12 October 2026 |
A "not published" count means we opened the loan provider's page for that product and the rate was not shown there, or the loan provider has no such page on its site. If you spot an error, tell us and we will correct it.
Method: we list only figures we could read on the loan provider's official pages. A blank means the loan provider does not publish that figure on the page we checked, and we never estimate one. Rankings use the published starting rate and published maximum tenure only. Read our editorial policy, how we make money and tell us about an error.
More loan provider comparisons
Chola compared with other loan providers (13)
SBI compared with other loan providers (16)
Union Bank of India compared with other loan providers (13)
Head-to-head pages for these three loan providers (3)
Swap one loan provider (2)
Compare any two or three loan providers · Personal loans · Home loans · Vehicle loans
Frequently asked questions
Which is better: Chola, SBI or Union Bank of India?
Union Bank of India advertises the lowest starting car loan rate here, 7.60%, compared with 9% at Chola and 8.40% at SBI. On a two-wheeler loan, Union Bank of India has the lowest published starting rate at 11.10%, against 15% at Chola and 11.70% at SBI. A starting rate is the best case, not a typical offer, so confirm the annual percentage rate (APR) and total repayable amount in each loan provider's Key Fact Statement. Figures are as published on the loan providers' own websites and checked 12 October 2026. The better choice depends on your profile, the loan type, the amount and the fees in your offer letter.
Union Bank of India, SBI or Chola: which should I pick for a loan?
Order does not change the comparison, so Chola vs SBI vs Union Bank of India and Union Bank of India vs SBI vs Chola are the same page. Start with the loan type you need: the sections above show each loan provider's published rate, fees, tenure and prepayment terms for it, and the lower starting rate is not always the lower total cost.
What is the personal loan processing fee at Chola, SBI and Union Bank of India?
Chola: not published. SBI: Up to 1.50% of loan amount (min Rs 1,000, max Rs 15,000) + GST; waivers for some customers. Union Bank of India: not published. Fees can change and GST is usually extra, so check the Key Fact Statement.
Which has the lower home loan interest rate: Chola, SBI or Union Bank of India?
SBI has the lower published starting rate. Published starting rates: SBI 7.25% and Union Bank of India 8.60% (checked 12 October 2026). Your actual rate depends on your credit profile and the loan provider's approval.
What is the home loan processing fee at Chola, SBI and Union Bank of India?
Chola: not published. SBI: 0.35% of loan amount + GST, min Rs 2,000 max Rs 10,000 (FAQ page). Union Bank of India: not published. Fees can change and GST is usually extra, so check the Key Fact Statement.
What is the maximum home loan tenure at Chola, SBI and Union Bank of India?
Chola: not published. SBI: up to 30 years; repayment to be completed by age 70. Union Bank of India: not published.
How much personal loan can I get from Chola, SBI and Union Bank of India?
Chola: not published. SBI: Rs 1 lakh to Rs 50 lakh (subject to EMI/NMI up to 65% and 30 times NMI, whichever is lower). Union Bank of India: not published. The loan provider decides the final amount from your income, credit score and existing obligations.
What is the EMI on a ₹50 lakh home loan at Chola, SBI and Union Bank of India?
Over 20 years at each loan provider's lowest published rate: SBI about ₹39,519 a month at 7.25%; Union Bank of India about ₹43,708 a month at 8.60%. An illustration that leaves out fees, GST and insurance; your offered rate may be higher.
Can I prepay or foreclose a home loan early at Chola, SBI and Union Bank of India?
Chola: not published. SBI: Prepayment allowed without penalty. Union Bank of India: None; no prepayment penalty on Union Home Loan. Floating-rate loans to individuals cannot carry pre-closure charges; fixed-rate loans often do.
Which loans do Chola, SBI and Union Bank of India publish rates for?
Chola: no numeric starting rate found outside vehicle loans. SBI: personal loan, home loan, gold loan, education loan. Union Bank of India: home loan. Based on each loan provider's own website, checked 12 October 2026.
Which is better for a car loan: Chola, SBI or Union Bank of India?
Union Bank of India advertises the lowest starting car loan rate here, 7.60%, compared with 9% at Chola and 8.40% at SBI. See the full vehicle loan comparison for tenure, fees and EMI tables.
Are Chola, SBI and Union Bank of India regulated by the RBI?
SBI and Union Bank of India are banks regulated by the Reserve Bank of India (RBI); Chola is a non-banking finance company registered with and regulated by the RBI. Check a loan provider's registration on the RBI website before you apply, and apply only through its official channels.
How do I compare Chola, SBI and Union Bank of India on real cost, not just the rate?
Ask each loan provider for its Key Fact Statement, then compare three numbers: the APR, the total amount you repay and the fees charged upfront, such as processing fee, documentation charge and insurance. The loan with the lower APR and the lower total repayment is the cheaper one, even when its headline rate looks higher.
Does my credit score change the rate at Chola, SBI and Union Bank of India?
Yes. Loan providers keep their lowest published rate for borrowers with a strong credit score, usually 750 and above, and steady income. A lower score or a short work history usually means a higher rate, a higher processing fee or a smaller loan amount.
Are the rates on this page the rate I will get?
No. They are the rates the loan providers publish, usually a range or a starting rate. Your approved rate depends on your credit score, income, loan amount, tenure and, for secured loans, the asset. Always read the Key Fact Statement before you sign.
Does KhatuLoans lend money or charge for this comparison?
KhatuLoans is not a loan provider. The loan provider decides approval, rate and terms. Our comparisons are free to read, and we are not paid by the loan providers named here to rank them. See how we make money on our advertiser disclosure page.
KhatuLoans is not a loan provider and is not paid by the loan providers named here to rank them. Rates, fees and eligibility change; always confirm with the loan provider. Read our editorial policy and how we make money.