Union Bank of India Personal Loan

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.

2.  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.

3. 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