Please Note: Union Bank of India is not a Paisabazaar partner. Offers would be from partner Banks/NBFCs only.
Union Bank of India Personal Loan Highlights | |
Interest rate | 9.30% – 13.40% p.a. |
Loan Amount | Up to Rs 15 lakh |
Loan Tenure | Up to 5 years (repayment should be co-terminus with retirement) |
Processing Fees | Up to 1% (Maximum Rs 7,500) |
Table of Contents
Union Bank Personal Loan Interest Rates – May 2022
Union Personal Scheme
Schemes | CIBIL score | Interest Rate (p.a.) |
Union Personal – Under Tie-up | 700 & above | 11.30% |
below 700 | 11.40% | |
Union Personal – Under Non Tie-up | 700 & above | 12.30% |
below 700 | 12.40% | |
Union Personal- For Non-Salaried Individuals | 700 & above | 13.30% |
below 700 | 13.40% | |
Union Personal under SRLGE Where employer undertaking is available | 700 & above | 8.90% |
below 700 | 9.00% | |
Union Personal under SRLGE Where employer undertaking is not available | 700 & above | 10.40% |
below 700 | 10.50% |
Union Professional Personal Loan Scheme
Schemes | CIBIL Score | Interest Rate (p.a.) |
Union Professional Personal Loan – Salaried Applicants covered under Salary Tie-up | 700 & above | 9.70% |
Below 700 | 9.55% | |
Union Professional Personal Loan – Salaried Applicants not covered under Salary Tie-up | 700 & above | 10.20% |
Below 700 | 10.45% | |
Union Professional Personal Loan – Non-salaried Applicants | 700 & above | 10.70% |
Below 700 | 10.95% |
Union Bank Special Personal Scheme for Government Employees and SRLGE
Where employer undertaking is available
CIBIL Score | Interest rate (p.a.) |
700 & above | 9.30% |
Below 700 | 9.40% |
From 650-699 | 9.60% |
Less than 650 | 9.90% |
Where employer undertaking is unavailable
CIBIL Score | Interest rate (p.a.) |
700 & above | 10.80% |
Below 700 | 10.90% |
From 650-699 | 11.10% |
Less than 650 | 11.40% |
Where salary account is with our bank and employer undertaking is not available but guarantee of another co-employee is obtained. One Co-employee will be eligible to offer maximum 1 guarantee.
CIBIL Score | Interest rate (p.a.) |
700 & above | 9.90% |
Below 700 | 10.00% |
From 650-699 | 10.20% |
Less than 650 | 10.50% |
Note: All the above-mentioned interest rates may change and shall depend on the sole discretion of the Union Bank of India and RBI. Interest rates are updated as on 7th Dec 2021.

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Comparison of Union Bank Personal Loan vs. Other Lenders
Banks/NBFCs | Interest Rates (per annum) |
HDFC Bank | 10.25% – 21% |
SBI | 9.60% – 13.85% |
ICICI Bank | 10.25% onwards |
Axis Bank | 10.25% onwards |
Kotak Mahindra Bank | 10.75% onwards |
IndusInd Bank | 10.49% onwards |
IDFC First Bank | 10.49% – 23% |
Bajaj Finserv | 13.00% onwards |
Tata Capital | 10.99% onwards |

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Types of Union Bank of India Personal Loans
Union Personal- For Salaried (other than government employees)
- Purpose: To meet all the financial requirements of the salaried customers pertaining to their personal needs such as wedding, holiday, travel, purchase of durables, etc.
- Loan Amount: For employees of companies having tie-up with the bank: Maximum-Rs 15 lakh
For employees of companies not having any tie-up with the bank-- New first time borrower- Rs 5 lakh
- Existing borrower- Rs 15 lakh
- Tenure: Up to 5 years (co-terminus with retirement)
Union Personal- For Non-salaried
- Purpose: To meet all the personal financial needs of the non-salaried individuals
- Loan Amount: Existing borrower- Up to Rs 15 lakh
First time borrower- Up to 5 lakh - Tenure: Up to 5 years (co-terminus with retirement)
Union Personal- Special Retail Lending Scheme for Government Employees
- Purpose: To meet the personal expenses of government employees and to takeover the personal loans availed from other financial institutions or banks.
- Loan Amount: Up to Rs 15 lakh
- Tenure: Up to 5 years (co-terminus with retirement)
Union Professional Personal Loan Scheme
- Purpose: To meet the personal financial needs of professionals like CA, CS, doctors, cost accountants and engineers having annual income of Rs 12 lakh and above.
- Loan Amount: Up to Rs 20 lakh
- Tenure: Up to 5 years (up to retirement age of salaried individuals and 65 years of age for non-salaried individuals)
Union Cash (For Pensioners)
- Purpose: Personal expenses of pensioners/family pensioners including medical, travel or any emergency
- Loan Amount: Pensioner- Rs 10 lakh (up to 70 years)
Rs 5 lakh (Above 70 years)
Family Pensioner- Rs 3 lakh (any age group)
- Tenure (age at the time of application): Up to 70 years- up to 5 years
Above 70 years- up to 3 years

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Eligibility for Union Bank of India Personal Loan
To avail Union Bank personal loan, the following eligibility criteria needs to be considered:
For Union Personal- Salaried Eligibility (other than government employees)
Loans under this scheme are divided into two categories. The eligibility criteria for both the criteria are mentioned here.
Tie-up
- Permanent employees of reputed private organization/institutes in India
- May or may not be a salary account holder
- Minimum monthly gross salary of Rs 15,000 (Rs 20,000 for those in Delhi, Mumbai, Bangalore, Kolkata, Pune, Chennai, Ahmedabad)
Non Tie-up
- Confirmed employees of reputed private institutes/organization in India
- Should be a bank customer for at least 6 months before applying for the loan
- Should maintain salary account with the bank
- Should be earning at least a gross monthly salary of Rs 15,000 (Rs 20,000 for those residing in Ahmedabad, Bangalore, Chennai, Pune, Delhi, Kolkata, Mumbai)
For Union Personal Loan – Non-salaried
- Non-salaried applicants with regular source of income
- Minimum age- 25 years
- Maximum age- Applicant should repay the loan by the age of 75 years
- Borrower should be the bank customer for at least 2 years prior to applying for the loan
- The borrower should maintain a current /savings account with the bank with an average quarterly balance of Rs 25,000 for the last 4 quarters. There should also be no reporting of cheque returns or any other adverse features
For Union Personal – Special Retail Lending Scheme for Government Employees
- Permanent employees of government organizations (central government/ state government), defense, armed personnel, PSUs, central/state government undertakings, ministries or departments under them, All India Services officers, non-teaching and teaching staff at government colleges and schools)
- Minimum age – 18 years
- May or may not have an account with the bank
- The primary applicant should be the government employee
For Union Professional Personal Loan
- Salaried and non-salaried individuals working under the following professions:
Doctors,
Engineers,
Chartered Accountant,
Company Secretary and
Cost Accountants
- Minimum entry age –
18 years for salaried individuals
25 years for non-salaried individuals
- Maximum exit age – Retirement age for salaried individuals and 65 years of for non-salaried individuals
For Union Cash (Pensioners)
- Maximum age is 75 years for pensioner and 70 years for family pensioner
- Pensioner/family pensioner must draw pension/family pension through Union Bank of India
Documents Required for Union Bank of India Personal Loan
The following documents are needed to apply for a personal loan with Union Bank:
- Complete application form and credit information
- KYC documents (applicant and co-applicant both)
- ID Proof (Passport/PAN/Aadhaar/Voter ID)
- Address Proof (Passport/Aadhaar/Driving License)
- Two latest passport size photographs
- Business/Office address proof
- Bank statement for past 12 months
- For salaried individuals – last 3 months salary slips, last 2 years ITR/Form 16
Union Bank of India Personal Loan Processing fees and Charges
The following are some of the key fees and charges other than interest charges associated with Union Bank of India personal loan:
Processing Charges of Union Personal
- Union Personal non-salaried/salaried/government employees with or without tie-up- 1% of the loan amount subjected to a minimum of Rs 500 to a maximum of Rs 7500
- SRLG- NIL
Processing Charges of Union Cash (Pensioners)
- 0.10% of loan amount subject to minimum of Rs 100
Processing Charges of Special Union Cash Scheme (BSNL/MTNL VRS optee/Retired employee)
- Up to Rs 4 lakh- Rs 500
- Above Rs 4 lakh to 6lakh- Rs 1000
Union Bank of India Personal Loan EMI Calculator
Monthly EMI ₹ 15,622
Total Amount Payble ₹ 5,62,395(Principal + interest)
Principal Amount ₹ 5,00,000
Total Interest Payble ₹ 62,395

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Union Bank of India Customer Care
Customers can contact the bank’s customer care via any of the following ways:
- Call: You can get in touch with the bank’s customer care department by calling on the numbers given below:
All-India Toll-Free Number | 1800-222-244 / 1800-208-2244 |
Chargeable Landline Number | 080-61817110 |
NRIs only Dedicated Number (chargeable) | (+91) 806-181-7110 |
- Online Chatbot: You can also get your queries resolved via the online chatbot ‘Ask UVA’ available on the bank’s website.
- Branch Visit: You can visit the nearest Union Bank branch/Union Loan Point to get your queries answered
FAQs
Q. What is the time required for disbursal of Union Bank Personal Loan?
A. Union Bank of India claims to disburse the personal loan within 3 working days after the submission of required documents. The bank also offers pre-approved instant personal loans to existing customers.
Q. How does Union Bank of India decide the loan eligibility of personal loan applicants?
A. The loan eligibility of Union Bank personal loan applicants depends upon their repayment capacity and income. Other factors include their age, credit score, continuity of occupation, etc.
Q. What is the minimum credit score at which the applicants can avail Union Bank Personal Loan?
A. Union Bank of India has not specified any cut-off credit score for personal loan applicants. However, the bank offers lower interest rates to personal loan applicants with credit score of 700 and above.
Also Read: How to build/improve your credit score using Step Up Credit Card
Q. Can I choose between a fixed or floating rate for the personal loan?
A. Union Bank of India offers only floating interest rates on personal loans.
Q. Can the government employees who do not have a salary account with Union Bank of India avail a personal loan from the bank?
A. Yes, the government employees not having a salary account with Union Bank of India can avail personal loan from the bank under the Special Retail Lending Scheme for Government Employees. However, such applicants are only eligible for the term loan facility.Click here to know personal loan schemes offered by other banks/NBFCs to government employees and other categories.
Q. Does Union Bank of India offer preferential interest rates for personal loans to government employees?
A. Yes, Union Bank of India offers preferential interest rates to the personal loan applicants employed with the government. Among the government employees, applicants having the employer undertaking are offered the lowest interest rates.