Union Bank Philippines Quick Loans, How to apply and Requirements

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?

Pre-qualified customers will receive an SMS and/or email notification. This will include a unique invite code which you can use to log on to the website.

Qualified deposit account holders with the UnionBank Online App will be notified via SMS or a button inside the app.

How do I apply for a Union bank quick loan?

To apply for a Union bank quick loan in two methods via online website or mobile app,kindly follow the steps below to complete your application in less than 10 minutes.

1.LOGIN VIA QUICK LOANS WEBSITE
2.Access the link provided on the notification sms or email (https://unionbankph.com/loans/quick-loan) Input the correct login credentials:

3. Invite Code
4. Last 5 Digits of ATM payroll OR 12-digit payroll account number
5. Email Address
6. Mobile Number

OR

1.LOG IN VIA UNIONBANK ONLINE APP (ANDROID, iOS, Web Version)
2.Alternatively, you log on to your UnionBank Online App on your phone, or on your web browser.
3.From the main dashboard, a button with the words “You qualify for a loan” will appear. 4.Simply Click that and follow the process.
5.If you do not have the UnionBank Online App, you may download it from the Google Playstore, or from the Apple App Store.

Also Read: Banks and Online lenders in Philippines that offers Business Loans

AVAILMENT OF LOAN

After logging-in through your preferred channel:

1. You, the borrower, will access the application page: loan amounts, rates and processing fee, Terms and Conditions, Automatic Debit Arrangement, and Disclosure Statement.

2. After agreeing to all the terms and conditions and clicking submit, net loan proceeds will be credited to your account in seconds.

3. You will then receive SMS and Email notifications that your loan proceeds have been credited to your account, along with the attached Application Form, Promissory Note, and Amortization Schedule.

Read: Banks and online lenders that offer Salary loan in Philippines

When will my payments be debited?

Union bank quick loan Payment will be debited once a month from your account. This usually happens either on your loan’s due date or on the payroll date closest to your due date, whichever comes earlier.

Your loan’s due can either be on the 15th or 30th of the month.

*The system will debit your payment after you receive your salary in your payroll account.

You may apply for a new loan once your current Quick Loan has been completely paid. If you are interested in taking another loan, you may wait for an SMS and email informing you of your eligibility for the next promo period or you can apply via the Cash Loan button on the Quick Loans website 3 to 4 weeks after the maturity of your current Quick Loan.

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