How to apply for Union Bank Salary Payadvance loan

Union Banks has created  easy and simply credit facility for it’s depositors in form  of loans  like Unionplus loan,Unionflexi,Payadvance loan or SME loan.

They claim to have various type of loan that suit their customers –They believe lack of credit facilities should not be on the list of frustrations Nigerians face. The bank also believe that everyone – yes, everyone – deserves to have a credit ‘lifeline’.

At Union Bank loans are not limited to salary earners alone; because they truly want to support the grind of everyday Nigerians struggling to keep their heads above water in these tough times.

We are going to discuss various kind of union bank loan ranging from Unionplus loan, Unionflexi, Payadvance loan or SME loan.

Unionplus loan

The Unionplus loan is designed for salaried customers. Customers can access up to 15 million Naira and can pay back for up to 12-60 months

Your Annual income range: N216,000 – N30,000,000
Loans available between N50,000 and N15,000,000

Required Documents

Completed Application Form
Letter of Undertaking from employer

How can I apply for a loan?

For pre-approved customers

(Please note, you will be contacted if you have been pre-approved for a loan)

Simply log onto union bank online banking platform or Mobile App
Dial *826*41#
For all other customers
You can also apply via bank online platform https://www.unionbankng.com/forms/loan-application/

Call us today on 012716816 or send an email to: [email protected]
Visit any UBN Branch

You can also read:How to check Union Bank Nigeria account balance and Transfer Money

2. Unionflexi

The Unionflexi loan is designed for salaried customers with an annual salary of up to 30 million Naira. Customers can access up to 50 million Naira and can pay back for up to 60 months.

Required Documents

Completed Application Form
Letter of Undertaking from employer

Repayment: 12-60 months
Annual income range: Minimum N30,000,000
Loans available between N5,000,000 and N50,000,000

How to apply for Unionfexi loan

Simply log onto union bank online banking platform or Mobile App
Dial *826*41#
For all other customers
You can also apply via bank online platform https://www.unionbankng.com/forms/loan-application/

3. Payadvance

The Payadvance loan is designed for salaried customers. Customers can access up to 50% of their monthly salary and can pay back for up to 12 months.

Loan Details

Repayment: 12 months
Annual income range: Minimum N300, 000
Loans available between N25, 000 and 50% of monthly salary

Required Documents

Completed Application Form
Letter of Undertaking from employer
Proforma Invoice

Who is eligible for a loan?

A salary receiving a minimum salary of N18,000 monthly
A pensioner receiving a minimum pension of N10,000 monthly
A business owner

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How to Apply for Payadvance loan

Log onto union bank online banking platform or Mobile App
Dial *826*41#
For all other customers
You can also apply via bank online platform https://www.unionbankng.com/forms/loan-application/

4. SME Loan

This kind of loan are:

i Cash Flow Lending

Working capital to help meet your short term business needs.

ii School Finance

Short-term bridge finance for private nursery, primary and secondary schools.For reoccurring operating expenses such as school uniforms, stationery etc. against the next term fee collection

iii Local Purchase Order

union bank provide you with short term funding for jobs issued by approved counterparties.

You can also readHow to buy Airtime from Union Bank :Recharge Code

iv Invoice discounting Finance

Quick cash flow for your business needs before your clients pays.

v.Distributor Finance
They  support your whole value chain of suppliers and buyers with short term loan for SMEs that are key and sub-distributors.

vi Asset Finance
This product allows  customers acquire assets such as operational vehicles, office equipment and generators

vii Term Loan
SME customers can access Long term finance to finance the expansion of a business

viii Short Term Finance
Financing for SMEs for restocking of goods from specific suppliers.

Intervention Funds
Financing working capital needs, asset acquisition and business expansion

ix Overdraft
Manage fluctuations in your cash flow and respond to emergencies. This product provides funding for SME customers to meet their cashflow needs and bridge shortfall of working capital

You can read details from the bank website by copying the following URL to your browser https://www.unionbankng.com/business/sme-banking/sme-loans/

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