Last Updated on July 27, 2024 by admin
Union bank customers can set their plans in motion with Quick Loans, this is pre-qualified UBP clients to avail short-term cash loans. Customers that avail of a loan can receive their cash within sixty (60) seconds straight into their accounts.
The Loans are currently only available to customers who have a savings account with UnionBank. Quick Loans is a fully digital loan program for UnionBank Account holders. Customers that are approved get their cash in their account within 60 seconds.
This kind of credit facility enables Applicant’s/ Borrower’s to buy home appliances, dream gadgets, and pay bills during these uncertain times? Quick Loans gives you the quick cash for whatever you need, when you need it in under a minute.
The loan attract a penalty fees of late payment for 1-30 days – P200, 1-2 months – P400, 2-3 months – P600 and >3 months – P800
There is a Processing Fee attach to Union bank quick loan, they are: Php10,000 and above = P2,000, Php 5,000 to P9,999 = P500,Php 2,000 to P4,999 = P300 and Php 1,000 to 1,999 = P100
For Quick Loans in general, the loanable amounts can range from the following:
Maximum loan – P1,000,000.00
Minimum loan – P1,000.00
The loan tenor ranges from 1, 2, 3, 6 and 12-month terms and Your maximum loan amount will depend on your credit score. This amount will be shared to you in the initial SMS or email message or will be displayed during the application process on the Quick Loans website.
You can also read: Union Bank Philippines Salary Loans, Auto and House loan: How to apply and Requirements
How will I know I’m pre-qualified for a Union bank quick loan?
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Go to the Union Bank website and log in to your online banking account.
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Look for a notification or banner indicating that you’re pre-qualified for a Quick Loan.
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This notification will usually appear on your account dashboard or homepage.
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Union Bank may send you an email notification if you’re pre-qualified for a Quick Loan.
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Check your email inbox for a message from Union Bank.
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Open the Union Bank Mobile Banking app.
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Check the “Offers” or “Notifications” section for a Quick Loan pre-qualification message.
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If you’re unsure about your pre-qualification status, contact Union Bank’s customer support.
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They can check your account and inform you if you’re pre-qualified for a Quick Loan.
Also Read: Banks and Online lenders in Philippines that offers Business Loans
How do I apply for a Union bank quick loan?
UnionBank of the Philippines offers Quick Loans to eligible customers. There are two main ways to apply:
1. Online Application:
- Go to the UnionBank Quick Loan page:
- Complete the online application form with your personal and financial information
- Submit the form and wait for a response from UnionBank.
2. Branch Application:
- Go to your nearest UnionBank branch.
- Talk to a bank representative and express your interest in applying for a Quick Loan.
- The bank representative will guide you through the application process and help you fill out the necessary forms.
Documents Needed (for both online and branch applications):
- One (1) valid government-issued ID with photo and signature.
- For employed individuals: Latest Income Tax Return (BIR Form 2316) or latest 1-month full payslip.
- For self-employed individuals:
- Latest Income Tax Return (BIR Form 1701).
- Audited Financial Statements (AFS) of the business with an independent auditor’s report and balance sheets and tax receipt.
Read: Banks and online lenders that offer Salary loan in Philippines
