Union bank of India Personal Loan helps an individual to deal with any emergency financial situation like paying medical bills, renovating your home, etc. and fulfill your dreams like getting married, going on a vacation, opting for higher studies, etc. The personal loan amount goes up to Rs. 10 lakh and can be availed online from the comfort of your home or office.
Union Bank of India Personal Loan - Features and Benefits
- Loan amount: Starting from Rs. 5 lakh, the loan amount offered by Union bank of India on a personal loan goes up to Rs. 10 lakh
- Flexible tenure:The tenure to repay Union Bank of India Personal Loan goes up to 60 months and offers flexibility
- Fast processing:Union Bank of India ensures to process your personal loan application quickly (if you meet the eligibility criteria) so that you can avail instant funds
- Minimum documentation:You can avail Union Bank of India Personal Loan just by submitting minimum documentation that also includes the KYC documents
Union Bank of India Personal Loan - Interest Rate and Fees
| Interest Rate | Starts from 1Y-MCLR + 2.00% |
| Processing Fee | 0.50% of the loan amount, subject to minimum of ` 500, plus applicable GST |
Union Bank Personal Loan Scheme for Salaried Individuals (Other Than Government Employees)
This loan scheme is designed to meet various personal needs of a salaried professional.
Union Bank Personal Loan Scheme for Salaried Individuals – Interest Rate and Fees
| Interest Rate | Tie-Up (A1) | Non Tie- Up(A2) |
| 1Y-MCLR + 4.00% (floating) | 1Y-MCLR + 5.00% (floating) | |
| Processing fees | 0.50% of the loan amount, subject to minimum of Rs. 500, plus applicable GST | |
Union Bank Personal Loan Scheme for Salaried Individuals – Eligibility Criteria
- You should be at least 18 years old
| Tie- Up (A1) | Non Tie- Up (A2) |
| 1. You should be a permanent/ confirmed employee of reputed private institutes/organization in India 2. These organizations/institutes should be operating within the jurisdiction of respective ZLCC 3. You might or might not maintain a salary account with us | 1. You should be a permanent/ confirmed employee of reputed private institutes/organization in India 2. You should be customer of the bank for at least 6 months prior to considering the loan proposal 3. You should necessarily maintain salary account with us |
Union Bank Personal Loan Scheme for Non-Salaried Individuals
This scheme is offered to meet personal needs of self-employed individuals.
Interest Rate and Fees
| Interest Rate | 1Y-MCLR + 6.00% (floating) |
| Processing Fees | 0.50% of the loan amount, subject to minimum of ` 500, plus applicable GST |
Eligibility Criteria
- You must have a regular source of income
- You should be at least 25 years old
- Your age at the end of repayment has to be maximum 60 years
- You should be a customer of Union Bank for at least 24 months prior to considering the personal loan application
- You must maintain a savings or current account with us with AQB of Rs. 25,000 and above
Union Bank Personal Loan Scheme for Government Employees
This loan is offered to meet personal needs of government employees.
Union Bank Personal Loan Scheme for Government Employees – Interest Rate and Fees
| Interest Rate | Wherever employer undertaking available | 1Y-MCLR + 2.00% |
| Wherever employer undertaking not available | 1Y-MCLR + 3.50% | |
| Processing Fee | NIL | |
Union Bank Personal Loan Scheme for Government Employees – Eligibility Criteria
- You should be at least 18 years old
- You should be a permanent employee of Government organizations (Central / State), PSUs, Central / State Government undertakings, Defence, armed personnel, Ministries / Departments under the Ministries, officers in All India Services, Teaching & non-teaching staff at Government Schools & Colleges
- You should be the main applicant to avail this loan
- You must have a salary account with Union Bank. If not, you will have to get one with the bank
Union Bank of India Personal Loan - Documents Required
- Proof of identity (any one): PAN Card, passport, ID Card
- Proof of address (any one): Telephone bill, electricity bill, Aadhaar Card
- Proof of income(any one): Last three year ITR, last three year form-16/letter from employment and last 6 months salary slip
- Proof of out-goes: LIC policies (if any), loan repayment statement (if any), any other valid proof of any out- go
- PAN Card
- 2 photographs
Union Bank of India Personal Loan - EMI Calculator
It is a good decision to check the EMI of Union Bank of India personal loan at Paisabazaar.com and plan your future expense accordingly. Not only this, the personal loan EMI calculator also helps you to borrow a loan amount as per your repayment ability. All you need to do is to fill the following details:
- Loan amount
- Tenure
- Interest Rate
Compare Union Bank of India Personal Loan VS Other Lenders
| Particulars | Union Bank of India | HDFC Bank | Citi Bank | ICICI Bank | Bajaj Finserv |
| Interest Rate | Starting from 14.40% | 11.25% to 21.50% | Starting from 10.99% | 11.50% to 19.25% | Starting from 12.99% |
| Tenure | Upto 60 months | 12 to 60 months | 12 to 60 months | 12 to 60 months | 12 to 60 months |
| Loan amount | Upto Rs. 10 lakh | Upto Rs. 40 lakh | Upto Rs. 30 lakh | Upto Rs. 20 lakh | Upto Rs. 25 lakh |
| Processing Fee | Upto 0.50% of the loan amount | Upto 2.50% of the loan amount | Upto 3% of the loan amount | Upto 2.25% of loan amount plus GST | Up to 3.99% of the loan amount |
| Apply Now | Apply Now | Apply Now | Apply Now | Apply Now |
Union Bank of India - Customer Care
- You can call on 1800 22 22 44 / 1800 208 2244
- If you are a NRI, you can call on +918061817110
- You can send an email to Customercare@unionbankofindia.com
FAQs
How to repay my Union Bank of India personal loan?
You can repay the personal loan either by Standing Instruction facility or through internet banking.
If I already have an existing loan from Union Bank, will I be eligible for a personal loan?
Yes, if your repayment record is clear and you have the ability to repay two loans at a time, you would be considered for another loan by the bank.
Can I apply for Union Bank of India personal loan offline?
Yes, you can either contact the customer care or visit the nearest branch to apply for the personal loan offline.