This article will discuss the types of loans that Union Bank offers, as well as where and how you can apply for all loan package offer by union bank
Union bank loan facility are offer to salary earners, entrepreneurs to pensioners. customers can get loan amount 80% of investment as a cash-backed loan and enjoy flexible repayment options.
- Union Bank Personal Loan
Personal loans are popular for a variety of reasons. They’re useful for meeting unexpected financial needs.Union Bank personal loan offer borrower quick cash to settle some of personal needs? Get a loan of up to N15 million naira with your Union Bank salary account and pay back over 5 years
Minimum monthly salary to enable customer qualify should not less than N15,000 and Salary account must be domiciles with the bank for at least 1 month—- The Maximum loan tenor should not be more than 60 months
You can also read: How to apply for Union Bank Salary Payadvance loan
2. Union Bank Salary Advance loan
Union bank customer who’s salary domiciled with the bank can access up to 50% of their salary as an overdraft for a 12-month period at competitive rates.The Minimum monthly salary should not be less than N15,000
Borrower salary must be domicile with union bank for at least one month before they can apply for salary advance loan
3. Union Bank Back-to-school Finance loan
This kind of Union bank loan facility enable parents and guardian pay for your children’s or wards’ tuition instantly.It gives peace of mind because the entire session fees is paid for….it ensures that your children never miss one a day at school because their fees are paid promptly.
The Maximum loan amount is N15 million and Salary domiciliation should not be less than 1 month…..The loan Tenor –3 months for termly fee payment and 12 months for session fee payment
4. Union bank Senior Citizen Loan
Senior citizens are generally not eligible for personal loans due to age, but pensioners can get a loan of up to N10 million to finance that personal project they’ve been dreaming of and pay back over a period of 5 years.
People above the age of 60 years can now easily manage their financial emergencies with union bank Senior citizens loan facility.
The Minimum monthly pension should not be less than N10,000 and the Maximum loan amount is – N10 million provided they earn a regular pension. The pension account must domicile with Union bank and it has a tenor of 60 months
5. UnionFlexi Loans
With our UnionFlexi loan customers can access up to N50 million to meet their financial needs provided they earn up to N30 million per annum. The Maximum loan amount accessible is – N50 million with Maximum tenor for loan repayment – 60 months
customers who intend to apply for this kind of loan must have Minimum salary domiciliation period with Union Bank for – 1 month period.
6. Union bank Payday Loan
If you are salary earner who is in need of quick cash for personal reasons can apply for union bank payday loan and get up to 50% of your salary and pay back in a month’s time without hassles nor collateral’s.
Customers must have at lest Minimum monthly salary – N15,000, while, Maximum loan he/she can apply for is amount-N100,000. The Loan tenor is 30 days
Here are ways to access the payday loan
To apply for payday loan simply follow any of the steps below.
1. USSD- *826*41#
2. UnionMobile App
3. Union Bank ATMs
You can also read: How to buy Airtime from Union Bank :Recharge Code
7. Union bank Self-employed Loans
Business owner or self-employed professional who’s in need of financial support for their business or organisation can access loan to upscale their small scale business or run the daily activity of their organisation.
Features of Union bank Self-employed Loans
1. Minimum cash flow – Net: N5,000
2. Average turnover: N15,000
3. loan amount – N1 million
4. Maximum loan tenor – 6 months
5. Length of relationship with UBN – 12 months
8. Union Bank Self-employed Revolving Overdraft
Union Bank customers who are self employed can Access up-to N5 million to facilitate the day-to-day activities of their large-scale business in any of these locations: Lagos states, Kano, Anambra, Oyo state, Abia state, Jos, Edo. FCT and Kaduna state
Features of Union Bank Self-employed Revolving Overdraft
1. Net Turnover – N10,000 per month
2. Credit Turnover – N50,000 per month
3. Tenor – 6 months
4. Max Loan Amount – N5 million
5. Clean upcycle – every 60 days
9. Union Bank Cash-backed Loans
The loan facility is designed to meet personal or business needs.Eligible customers for the cash-backed loan should have a target savings products or investments such as UnionKorrect, UnionFlex etc).
What is Union bank monthly interest rate?
The monthly interest rate of union bank loans ranges from 1.25% – 3.75% and to know if you are qualify for a loan Walk into any of union bank branches and asked to be scored to know how much you qualify for.
How to apply for Union Bank Loan
To apply for any loan of your choice stated above kindly copy this url to your browser and start you loan journey with union bank. https://www.unionbankng.com/forms/loan-application/#how-can-i-improve-my-chances-of-getting-a-loan-