Union Bank Personal Loan

Union Bank of India offers a range of personal loan products designed to meet various financial needs, including expenses related to education, marriage, home renovation, medical emergencies, and more. The bank aims to provide quick and hassle-free financial solutions to its customers with attractive interest rates and flexible repayment options.

Union Bank provides personal loans with low interest rates starting at 10.95% per annum and flexible payback terms ranging from 12 to 60 months. The highest amount that you can borrow is Rs. 50 lakhs.

Union Bank of India Personal Loan Details

Union Bank Personal Loan Schemes

• Union Personal Scheme

Union Bank of India Personal Loan Eligibility Criteria 

To apply for a Union Bank of India Personal Loan, you must meet the following qualifying requirements:

1. Union Personal Scheme for employed people 

Loans issued under this scheme can be separated into two types, with the eligibility conditions listed below:

Those who have a salary account in the bank

• Before applying for the loan, you must have been a bank customer for at least six months.
• Applicants must be permanent employees of a reputable private institute/organization in India.
• It is required to have a salary account at the bank
• The minimum monthly income is ₹15000 (₹20,000 for individuals living in Delhi, Mumbai, Bangalore, Chennai, Ahmedabad or Pune).
  

Those who do not have a salary account in the bank: 

• Applicants must be permanent employees of prominent private institutions/companies in India.
• Not compulsory to have a salary account.
• The minimum monthly income is ₹15000 (₹20,000 for individuals living in Delhi, Mumbai, Bangalore, Chennai, Ahmedabad or Pune).

 Union Personal Loan for Non-Employed People

Union Personal Loan for Non-Employed People

Eligibility Criteria

• Have a source of consistent revenue.
• The minimum age of the applicant should be 25 years.
• Maximum Age: Payment must be fulfilled by the time you become 75 years old.
• Before applying for the loan, you must have been a Union Bank of India customer for at least two years.
• You should have a savings/current account with Union Bank of India with an average quarterly balance of Rs 25,000 for the last four quarters. Should be.

Union Bank Special Personal Scheme for Government Employees and SRLGE

When there is an undertaking from the employer/company

When there is no undertaking from the employer/company

Where your salary account is in Union Bank and there is no undertaking from your employer/company, but another co-worker has secured a guarantee. A co-worker can receive a maximum one-year guarantee.

Personal Loan for Government Employees Eligibility Criteria

• The minimum age of applicants should be 18 years.
• Permanent employees of Government Organizations (Central Government/State Government), Defence, Armed Personnel, Public Undertakings, Central/State Government Undertakings, Ministries or Departments, All India Service Officers, and Non-Teaching and Teaching Staff in Government Colleges and Schools.
• The primary applicant must be a government employee.
• It’s not compulsory to have a bank account.

Union Mahila Professional Personal Loan (UWPPL)- {For Loan Up to 50 Lakh}

For employed applicants

For non-employed applicants

Eligibility Criteria Required for Union Mahila Professional Personal Loan Scheme

• When applying for a loan, the employed candidate must be at least 21 years old.
• A non-employed applicant must be at least 23 years old when applying for the loan.
• The maximum age at loan maturity for non-employed applicants should be 65, while salaried applicants should be up to retirement age.
• This initiative is open to both employed and unemployed women who pay income taxes and have an annual wage or income of Rs 5 lakh or more.
• Working women professionals in the fields of healthcare, accounting, auditing, arts and culture, fashion design, wealth management/financial services, coaching, counselling, filmmaking, photography, mass media, publicity, communication, beauty and cosmetics, legal services, aviation, education, and research are also eligible for Union Bank Personal Loan.
• CIBIL Score: Applicants with a CIBIL score of 650 or higher are more likely to receive a Union Bank Personal Loan.

Union Professional Personal Loan Scheme

Eligibility Criteria

Minimum age- 

• For employed people: 18 years
• For non-employed: 25 years

Employed and non-employed people should be from the following professions:

• Doctor,
• Engineer,
• Chartered Accountant
• Company Secretary and
• cost accountant

Maximum age – Retirement age for employed people and 65 years for non-employed people

Documents Required for Applying Personal Loan Schemes in Union Bank of India

1. Application Form and Credit Information
2. Two recent passport-size photographs
3. KYC documents (of both applicant and co-applicant)

• Identity Proof (Passport/PAN/Aadhar Card/Voter ID)
• Address Proof: Passport/Driving License/Aadhar Card)

4. Proof of business/office address

1. Bank statements for the last 12 months
2. employed For Individuals: Salary slip of last 3 months, ITR/Form-16 of last two years