Credit Score powered by our Bureau Partners 
® | 
CreditMantri Finserve Private Limited
CreditMantri Finserve Private Limited Unit No. B2, No 769, Phase-1, Lower Ground Floor, Spencer Plaza, Anna Salai, Chennai - 600002
Have any queries? Click here for more details
All written queries will be responded within 1 working day.
We'd love to help you through every step along the way.
Get loans starting from 11.25% interest rate
Know how to improve credit score
FREE credit analysis for 1 year
The eligibility for personal loans of the bank depends on various factors. The details of eligibility for Union Bank of India personal loans are tabled below.
Particulars | Union Personal – Salaried | Union Personal – Non-Salaried | Personal Loan – Special Retail Lending Scheme for Government Employees | Union Cash |
Purpose | Personal use | Personal use | Personal use and takeover of personal loan from other lenders | Personal use |
Eligible applicants | Permanent employees of reputed private entities | Non-salaried persons having a regular source of income as acceptable by the bank | Confirmed / Permanent Employees working at,
| Pensioner or Family Pensioner |
Age | Minimum age – 18 years Maximum age – one year before retirement | Minimum age – 25 years Maximum age – 75 years | Minimum age - 18 years | Maximum age – 75 years (for pensioner) 70 years for family pensioner |
Minimum Income | Minimum salary - Rs 20,000 (for Delhi, Mumbai, Kolkata, Chennai, Bengaluru, Ahmedabad and Pune Minimum salary – Rs. 15,000 (other areas) | As per bank guidelines | As per bank guidelines | As per bank guidelines |
Relationship with the bank | Scheme A – Applicant may or may not maintain a salary account with the bank Scheme B – Applicant has to maintain a salary account with the bank and has to be a customer of the bank for a minimum period of 6 months | Savings or Current Account with any branch of the bank for a minimum of 24 months Average quarterly balance of Rs. 25,000 for immediately preceding 4 quarters | Salary account with any branch of the bank is not mandatory | Applicant must have a pension account with any branch of the bank |
The documents for the Union Bank of India personal loans are the KYC documents that have to be submitted along with the duly filled application form in order for the application to be complete. The documents required vary for every category of the applicant and the type of personal loan of the bank. The detailed of the same are provided hereunder.
Union Bank of India is a leading bank in our country having its headquarters in Mumbai. The bank was merged with two other public sector banks namely, Andhra Bank and Corporation Bank. This merger has made Union Bank of India among the top five banks in our country that have a huge network of branches reaching the remotest parts of the nation.
The bank provides unique banking solutions to its customers across various segments of banking to ensure that they get the best banking services at affordable prices. The personal loans of the bank are among the many loans provided by the bank.
A personal loan is the most liquid loan that is unsecured in nature and can be available easily with minimum documentation. The purpose of these loans is to meet the personal expenses of the applicants. There are many types of personal loan available with the Union Bank of India. These loans vary based on various factors like eligible applicants, amount of loan, etc.
The personal loans of the Union Bank of India are among the best loans in this segment. These loans are available at an affordable rate of interest and for a higher loan amount. The highlights of the personal loans of Union Bank of India are mentioned below.
Particulars | Union Personal – Salaried | Union Personal – Non-Salaried | Personal Loan – Special Retail Lending Scheme for Government Employees | Union Cash |
Amount of Loan | Maximum loan Scheme A - Rs.15,00,000 Maximum loan Scheme B – Rs. 5,00,000 (new or first time borrower), or, Rs. 15,00,000 (existing borrower with a satisfactory record for the past 2 years) | Maximum loan – Rs. 5,00,000 (new or first time borrower) or, Rs. 15,00,000 (existing borrower with a satisfactory record for past 2 years) | Maximum loan – Rs.15,00,000 | |
Tenure | 5 years (60 months) | Maximum of, 5 years or up to the age of 75 years | Maximum of, 5 years (for term loans) | Up to 70 years – 5 years Above 70 years – 3 years |
Rate of interest | Scheme A – 10.90% to 11% Scheme B – 11.90% to 12% | 12.90% to 13% | Where employer undertaking is available – 8.90% to 9% Where employer undertaking is not available – 10.40% to 10.50% | As per the bank’s guidelines |
Processing Fees | As per the bank’s guidelines | As per the bank’s guidelines | As per the bank’s guidelines | As per the bank’s guidelines |
Security | No security needed if the spouse is co-applicant | No security needed if the spouse is co-applicant | No security needed if the spouse is co-applicant | No security or collateral needed |
1. How can I apply for a personal loan from the Union Bank of India?
A. A person can apply for the personal loan of Union Bank of India through any of the following modes,
modes
Offline modes
2. How can I repay the personal loan taken at Union Bank of India?
A. The personal loan of the bank can be repaid through any of the following modes.
3. What are some of the ways to reduce the EMI on personal loans?
A. Some of the easiest ways to reduce the EMI on personal loans are mentioned below,
4. Can an NRI apply for Union Bank of India personal loans?
A. No. NRIs cannot apply for Union Bank of India personal loans.
5. Is there any prepayment penalty for Union Cash Loan?
A. No. There is no prepayment penalty for Union Cash Loan.
CreditMantri will never ask you to make a payment anywhere outside the secure CreditMantri website. DO NOT make payment to any other bank account or wallet or divulge your bank/card details to fraudsters and imposters claiming to be operating on our behalf. We do not sell any loans on our own and do not charge any fee from our customers/viewers for the purpose of loan application