Union Bank is a commercial bank, specializing in personal and small business banking solutions, investment, wealth management, and corporate banking services.
Take advantage of the Union Bank Online Banking platform to perform everyday banking tasks like: View balances and account activity.
Transfer and wire money. Pay bills. Set up account alerts to monitor activity. Ensure your personal contact information is always up-to-date. Replace and activate your ATM/ Debit card.
Union Bank will disburse the funds to you and/or your creditors within 24 hours of your accepting the loan. For debt consolidation loans, your creditors will receive their designated funds for payment on your account in 3-5 business days.
Loans subject to credit and collateral approval. Not all loan programs are available in all states for all loan amounts. Restrictions may apply. Terms and conditions subject to change. A nonrefundable rupees 550 application fee is required.
PURPOSE
To meet personal expenses such as marriage, purchase of consumer durables, travel, holiday, etc.
PERSONAL LOAN SALARIED ELIGIBILITY
Personal loans can be used to help cover most any personal expense, including but not limited to: consolidation of non-Union Bank credit card balances, home improvements, weddings and much more. Loan proceeds cannot be used for any illegal purpose (including gambling activities); or allocated toward obligations you owe to Union Bank;
The loan under the scheme is divided into two categories. Eligibility norms for both the category are as under:
Scheme A (tie-up)
Permanent/confirmed employees of reputed Pvt. institutes/organizations in India
Applicant may or may not maintain salary account with union bank.
Minimum monthly gross salary of Rs.15000 p.m. (Rs.20,000/- for Delhi, Mumbai, Kolkata, Chennai, Bengaluru, Ahmedabad & Pune).
Scheme B (Non-tie-up)
Permanent/confirmed employees of reputed private institutes/ organizations in India**
The applicant should be customer of the bank for at least 6 months prior to applying for loan.
Applicant should necessarily maintain salary account with union bank.
Minimum monthly gross salary of Rs.15000 p.m. (Rs.20,000/- for Delhi, Mumbai, Kolkata, Chennai, Bengaluru, Ahmedabad & Pune).
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QUANTUM
Minimum Amount – No limit
Maximum quantum Scheme A (tie-up):
Rs.15.00 Lakh.
Maximum quantum Scheme B (tie-up):
New/first time borrower – Rs.5.00 lakh
Existing borrower with a satisfactory repayment record of 2 years – Rs.15.00 lakh
Nature Of Loan
Term Loan
Age
Minimum – 18 years.
Maximum – One year prior to retirement age.
Margin
Nil
PERSONAL LOAN SALARIED RATE OF INTEREST
Please click here to know our latest interest rates.
REPAYMENT TENURE
The maximum repayment period will be Five years (60 months) subject to the condition that repayment should be co-terminus with retirement.
Moratirum
No moratorium period is allowed. The repayment shall commence from succeeding month of first disbursement of loan.
Security
No security, subject to the condition that Spouse of the applicant must join as co-applicant.
Guarantee
In case borrower is single/widow/divorcee, then personal guarantee of one of the co-employee with sufficient means.
Personal loan salaried EMI calculator
Please click here for EMI Calculator
Contact union bank nearest Branch for more details
Visit the latest Click here for apply online loan
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