Union Bank of India Personal Loan

With affordable interest rates, Union Bank of India offers personal loans. Additionally, Union Bank of India provides paperless digital loan processing along with online, quick personal loan. Union Bank of India with interest rates starting at 11.40% - 15.50% onwards. A maximum loan from upto 15 lacs with a maximum 1 to 5 year repayment period is available to you.

Interest Rate 11.40% - 15.50% onwards
Maximum Loan upto 15 lacs
Processing Fees 0.50%
Maximum Loan Tenure 1 to 5 year

Loan Disbursal in 3 hrs*
100% Online Process

A Four-Step Guide to Efficient Financing

Complete Your Basic Details
Check Your Soft Eligibilty
Complete Your Details
Get Disbursal in account

Union Bank of India Personal Loan EMI Calculator



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Documents Required for Union Bank Of India Personal Loan 

In order for an application for a personal loan from Union Bank Personal Loan to be considered complete, the KYC documents must be submitted with the properly filled out application form. Depending on the applicant category and the bank's chosen personal loan programme, different documentation are needed. Here, we share further information about the same.

  • Identity documentation (passport, Pan card, voter identification card, driver's licence, Aadhaar card)

  • Address verification documents include a driver's licence, a passport, utility bills, a property purchase agreement or sale deed (if the property is owned), and an Aadhaar card.

  • Evidence of income, such as Form 16 and the latest six months' worth of pay stubs or ITRs.

  • For the previous year's worth of bank statements

  • Letter from the company promising to take the employee's EMI out of their paycheck

  • Verifiable evidence of all outgoings, such as a loan repayment statement or LIC policy

  • Two photos, both of passport size

In the area of personal loans, Union Bank of India Loan provides a variety of services. All types of people choose it as their chosen bank for all financial services. With the help of personal loans provided by Union Bank of India, any urgent financial need can be met, including those for weddings, medical procedures, home repairs, vacations for pleasure, etc.

 Personal loans up to Rs 15 lakh are available from Union Bank of India Personal Loan interest rates starting at 11.40% p.a. for terms up to 5 years. Additionally, it offers the Union Women Professional Personal Loan Scheme to working women professionals at a rate of 11.40% p.a. and higher for loans up to Rs 50 lakh with terms of up to 7 years.

Feature and Benefits of Union Bank of India Personal Loan 

Below we've highlighted the major characteristics and advantages of Union Bank Of India Personal Loan apply online: 

Amount of the minimum loan: There is no minimum loan amount restriction.

Maximum loan amount: In most circumstances, you can borrow up to Rs. 15 lakhs ($20,000), but sometimes you can borrow more.

Duration: The maximum repayment period is 60 months, while it may occasionally reach 84 months.

Rate: The interest rate for a personal loan from Union Bank can range from 9.30% to 13.40% per annum, depending on the scheme. The interest rates on personal loans today are less than those on loans from Union Bank in 2020.

Processing fee: The processing fee is extremely cheap and can be as little as 0.50% of the loan amount approved, with a minimum charge of Rs. 500 plus any applicable GST.

Collateral: Unsecured personal loans don't demand any security or collateral.

Process of applying Union Bank Of India Personal Loan 

Use the simple steps below Union Bank Personal Loan apply online: 

    • Visit the official website Fincrif.com .

    • Firstly , login with your name and number .

    • Then fulfill your employment type.

    • Verify OTP.

    • Upload all the documents and submit .

    • Last , you will get a call from the Fincrif team and help you to proceed next.

Frequently Asked Questions ( FAQ ) 

  1. What are the limits on my loans?

ANS. Your income and ability to repay the loan would decide your personal loan limit.

  1.  Can the amount of the loan be calculated using my spouse's income?

ANS. Yes, as long as your spouse guarantees the loan or the loan is taken jointly, their income may be included.

  1. How is the payment schedule structured?

ANS. The EMI is the minimal sum that you are required to pay each month. You are free to pay more than the EMI if you so choose, and there is no prepayment penalty with us.

Guarantee : If the borrower is a widow, widower, or divorcee, a coworker with sufficient income must personally guarantee the loan.

Eligibility Criteria for Union Bank of India Personal Loan  

Here are the eligibility of Union Bank Of India loan apply: 

Age requirement:

  • Minimum age is  25

  • Maximum age is 60.

The bank relationship: 

Prior to applying for a loan, you need to have been a customer of Union Bank of India for at least two years.

Required savings account: 

Should hold a current or savings account with Union Bank of India with an AQB of more than Rs. 25,000 for the past four quarters and a satisfactory account history.

Fees and Charges of Union Bank of India Personal Loan 

Neft/RTGS inwardNil
Neft outwardRs.3 to Rs.29 per transaction
RTGS outwardRs.29 to Rs.63 per transaction
Electronic Clearing ServiceRs.4 per transaction
Cheque Book issuanceFree up to 40 leaves. Rs.4 per leaf thereafter
Account activationFree
Statement of accountsFree
Duplicate statement or passbookRs.62 per folio, or Rs.1,507 for the maximum entries. Entries that are more than 1 year old will be charged at Rs.77 per folio, or Rs.7,533 for the maximum.
Customer induced debit entries60 entries free per quarter. Rs.17 charged per entry thereafter
SMS bankingRs.15 per quarter
Standing instructionsOne time charge of Rs.58
Inoperative accountIf minimum balance is maintained, no charges are applicable. If the balance is below the minimum limit, the following charges apply: Metro and Urban- Rs.230 Semi-Urban and Rural - Rs.85
Account closureWithin 14 days, no charges are applicable. Closure of an account within 12 months costs Rs.173 for accounts with cheque book and Rs.130 for accounts without cheque book.

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