Union Bank of India Personal Loan

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Union Bank of India Personal Loan Highlights
Interest rate	10.85%-14.95% p.a.
Loan Amount	Up to Rs 15 lakh For Women- Up to Rs 50 lakh
Loan Tenure	Up to 5 years (repayment should be co-terminus with retirement) For Women- Up to 7 years
Processing Fees	Up to 1% (Maximum Rs 7,500)

Note: Rates as of 17 April 2025

Union Bank Personal Loan Interest Rates 

Union Personal Scheme

Union Ashiyana Personal Loan Scheme

Schemes	CIBIL Score	Interest Rates (p.a.)
Union Ashiyana Personal Loan Scheme for Salaried	700 & above	11.25%
	Below 700	11.50%
Union Ashiyana Personal Loan Scheme for Non-Salaried	700 & above	11.75%
	Below 700	12.00%

Union Professional Personal Loan Scheme

Schemes	CIBIL Score	Interest Rates (p.a.)
Union Professional Personal Loan – Salaried Applicants covered under Salary Tie-up	700 & above	11.25%
	Below 700	11.50%
Union Professional Personal Loan – Salaried Applicants not covered under Salary Tie-up	700 & above	11.75%
	Below 700	12.00%
Union Professional Personal Loan – Non-salaried Applicants	700 & above	12.25%
	Below 700	12.50%

Union Women Professional Personal Loan Scheme – Up to Rs 50 lakh

Schemes	CIBIL Score	Interest Rates (p.a.)
Union Women Professional Personal Loan Scheme for Salaried	700 & above	10.85%
	Below 700	11.00%
Union Women Professional Personal Loan Scheme for Non-Salaried	700 & above	11.75%
	Below 700	12.00%

Union Bank Special Personal Scheme for Government Employees and SRLGE

Where employer undertaking is available

CIBIL Score	Interest Rates (p.a.)
750 & above	10.85%
From 700-749	10.95%
From 650-699	11.15%
Less than 650	11.45%

Where employer undertaking is unavailable

CIBIL Score	Interest Rates (p.a.)
750 & above	12.35%
From 700-749	12.45%
From 650-699	12.65%
Less than 650	12.95%

Where the salary account is with Union Bank of India and employer undertaking is not available but a guarantee of another co-employee is obtained. One Co-employee will be eligible to offer a maximum of 1 guarantee.

CIBIL Score	Interest Rates (p.a.)
750 & above	11.45%
From 700-749	11.55%
From 650-699	11.75%
Less than 650	12.05%

Union Cash

For Pensioners

Age	Loan Amount	Interest Rates (p.a.)
Up to 70 years	Rs 10 lakh	10.85%
Above 70 years	Rs 5 lakh	10.85%

 For Family Pensioners (any age group)

Loan Amount	Interest Rate (p.a.)
Rs 3 lakh	10.85%

Comparison Table of Personal Loan Interest Rates for Different Lenders

Banks/NBFCs	Interest Rates(p.a.)
Axis Bank	11.25% onwards	Apply Now
IndusInd Bank	10.49% onwards	Apply Now
IDFC First Bank	10.99% onwards	Apply Now
HDFC Bank	10.85% onwards	Apply Now
ICICI Bank	10.85% onwards	Apply Now
Kotak Mahindra Bank	10.99% onwards	Apply Now
Tata Capital	11.99% onwards	Apply Now
Federal Bank	11.49% onwards	Apply Now
DMI Finance	Up to 24%	Apply Now
L&T Finance	11.00% onwards	Apply Now
Kreditbee	16.00% - 29.95%	Apply Now
MoneyTap	13.00% onwards	Apply Now
Piramal Finance	12.90% onwards	Apply Now
Aditya Birla	10.99% onwards	Apply Now
Moneyview	14%-36%	Apply Now
Cashe	33.50% onwards	Apply Now

Know more about personal loan interest rates offered by top lenders

Types of Union Bank of India Personal Loans

Union Personal- For Salaried (other than Government employees)

Purpose: Union Bank of India offers Personal Loan for Salaried to meet the financial requirements of private sector employees pertaining to their various personal needs like 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

Union Personal- For Non-salaried

Purpose: Non-salaried individuals having a regular income source can avail personal loan from Union Bank of India to meet their personal expenses, such as marriage, travel, holiday and purchase of consumer durables.

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: Union Bank of India offers Special Retail Lending Scheme for Government Employees to finance their personal expenses, such as marriage, travel, holiday, purchase of consumer durables, etc. Under this scheme, existing personal loan borrowers of other banks and NBFCs can transfer their existing personal loans to Union Bank of India at lower interest rates.

Loan Amount: Up to Rs 15 lakh

Tenure: Up to 5 years (co-terminus with retirement)

Union Professional Personal Loan Scheme

Purpose: Professionals including Chartered Accountants, Doctors, Engineers, Company Secretary and Cost Accountants can avail Union Professional Personal Loan Scheme to meet their personal needs.

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 Women Professional Personal Loan Scheme (UWPPL)

Purpose: Union Bank of India offers personal loan to women professionals working in the field of healthcare, fashion designing, art and culture, accountancy, aviation, legal services, research and education, event management, beauty and cosmetics, accountancy, audit, etc. to finance their personal expenses such as travel, marriage, holiday, purchase of consumer durables, etc.

Loan Amount: Up to Rs 50 lakh

Tenure: Up to 7 years

Union Ashiyana Personal Loan Scheme

Purpose: Union Bank of India offers Ashiyana Personal Loans to finance the personal requirements, such as marriage, travel, holiday, purchase of consumer durables, loan repayment with other banks etc. of new and existing home loan borrowers. New Home Loan Borrowers can also avail Ashiyana Home Loan Scheme to meet the incidental expenditure or other miscellaneous expenditure associated with the purchase of property.

Loan Amount: Up to Rs 15 lakh

Tenure: Up to 7 years

Union Ashiyana Overdraft Scheme

Purpose: New and existing home loan borrowers can avail Union Ashiyana Overdraft Scheme to meet the personal or business requirements of the borrowers or for repayment of high cost loans.

Loan Amount: Up to Rs 20 lakh

Tenure: The tenure of this personal loan scheme should not exceed the residual home loan tenure. The maximum repayment age is the retirement age of the salaried borrower and 65 years for non-salaried borrower.

Eligibility for Union Bank of India Personal Loan

For Union Personal- Salaried (other than Government employees)

Loans under this scheme are divided into two categories. The eligibility criteria for both the categories are mentioned here:

Tie-up:

• Permanent employees of reputed private organization/institutes in India
• May or may not be holding a salary account with Union Bank of India
• Minimum monthly gross salary of Rs 15,000 (Rs 20,000 for those in Delhi, Mumbai, Bangalore, Kolkata, Pune, Chennai, Ahmedabad)

Non Tie-up:

• Permanent 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 Union Bank of India
• Should be earning at least a gross monthly salary of Rs 15,000 (Rs 20,000 for those personal loan applicants residing in Ahmedabad, Pune, Bangalore, Delhi, Kolkata, Mumbai, Chennai)

For Union Personal Loan – Non-salaried

• Non-salaried applicants with regular source of income are eligible for Union Personal Loans
• Minimum age at the time of loan application- 25 years
• Maximum age at the time of loan maturity- Up to 75 years of age
• The individual should be the bank customer for at least 2 years prior to applying for the loan
• The applicant should maintain a current /savings account with the Union Bank of India with an average quarterly balance of Rs 25,000 and 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 at the time of loan application- 18 years
• The applicant may or may not have an account with Union Bank of India
• 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 age at the time of loan application – 18 years for salaried individuals and 25 years for non-salaried individuals.
• Maximum age at the time of loan maturity- Retirement age for salaried individuals and 65 years of for non-salaried individuals.
• The applicant should have annual salary or earning of Rs 12 lakh and above.

For Union Women Professional Personal Loan Scheme (UWPPL)

• Minimum age of salaried applicant at the time of loan application should be 21 years
• Minimum age of non-salaried applicants at the time of loan application should be 23 years
• Maximum age at the time of loan maturity should be 65 years for non-salaried applicants, whereas retirement age for salaried applicants
• Salaried and non-salaried women income tax assesse having annual salary or income of Rs 5 lakh and above are eligible for this scheme
• Women professionals in the field of healthcare, accountancy, audit, art and culture, fashion designing, wealth management/financial services, coaching, counselling, film making, photography, mass media, publicity, communications, beauty and cosmetics, legal services, aviation, education and research are also eligible for Union Bank Personal Loans
• Credit score: Applicants having a minimum credit score of 650 and above have higher chances of availing Union Bank Personal Loans

For Union Ashiyana Personal Loan Scheme

• New and existing home loan borrowers can avail Union Ashiyana Personal Loan Scheme
• Minimum age at the time of loan application- 18 years
• Maximum age at the time of loan repayment- Retirement age for salaried individuals and 65 years of age for non-salaried individuals
• New Home Loan borrowers can avail Union Ashiyana Personal Loan Scheme along with the home loan. However, the loan is disbursed only after the completion or possession of the property.
• Existing Home Loan borrowers should have a satisfactory repayment track record and the home loan account should not have been classified under SMA category for the last 6 months.

For Union Ashiyana Overdraft Scheme

• Existing and new home loan borrowers can avail Union Ashiyana Overdraft Scheme.
• Home Loans transferred from other banks and NBFCs can also avail Union Ashiyana Overdraft Scheme
• Minimum age at the time of loan application- 18 years
• Maximum age at the time of loan repayment- Retirement age for salaried and 65 years of age for non-salaried

Know more about the personal loan eligibility criteria set by top personal loan lenders

Documents Required for Union Bank of India Personal Loan

• Complete application form and credit information
• Two latest passport size photographs
• KYC documents (applicant and co-applicant both): ID Proof (Passport/PAN/Aadhaar/Voter ID), Address Proof (Passport/Aadhaar/Driving License)
• 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

Processing Charges for Union Personal Loan

• 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 for Union Cash (Pensioners)

• 0.10% of loan amount subject to minimum of Rs 100

Processing Charges for 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

For Union Women Professional Personal Loan Scheme (UWPPL)

Processing charges	NIL
Overdues Charges	In case of default/delayed payment, penal interest should be recovered @2% p.a. (over and above the applicable interest rate) on the overdue amount for the period of default
Prepayment penalty	There is no prepayment penalty if the loan is adjusted by the borrower from his/her own verifiable legitimate sources.

Know about the personal loan processing fees charged by various banks/NBFCs

Union Bank of India Personal Loan EMI Calculator

Union Bank of India Customer Care

All-India Toll Free number: 1800 22 22 44 / 1800 208 2244

Charged Numbers :080-61817110

Dedicated Number for NRI: +91-8061817110

Know more about Union Bank Personal Loan Customer Care Numbers and Grievance Redressal in detail.

FAQs

1. What is the time required for disbursal of Union Bank Personal Loan?

Ans. 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.

2. How does Union Bank of India decide the loan eligibility of personal loan applicants?

Ans. 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.

3. What is the minimum credit score at which the applicants can avail Union Bank Personal Loan?

Ans. 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.

4. Can I choose between a fixed or floating rate for the personal loan?

Ans. Union Bank of India offers only floating interest rates on personal loans.

5. Can the government employees who do not have a salary account with Union Bank of India avail a personal loan from the bank?

Ans. 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.

6. Does Union Bank of India offer preferential interest rates for personal loans to government employees?

Ans. 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.