Union Bank loan: personal,business, pay day, student & SME |code to APPLY now
Union Bank offers wide opportunities to customers trying to access a loan from the bank. The bank offers loan to salary earners, entrepreneurs and Small Business owners to even pensioners.
Union Bank loan offers several kinds of loan packages that benefit your taste, which varies from a personal loan, business loan, SMEs loan, student’s loan, etc.
Union Bank Loan Eligibility
To be qualified for a Union Bank Loan, one must meet this list or requirement:
- A monthly minimum salary of N18,000 per month for salary earners
- A minimum pension of N10,000 monthly for pensioners
- Business owner
- A Union Bank Customer
Here are a list of Union Bank Loan Packages
When requesting a loan from Union bank, Here are some criteria required based on the loan bundle of your choice. These include having a Union Bank account, loan application form, letter of undertaking from an employer, and so on.
1. Unionplus/Personal Loan
Unionplus loan is also known as Union Bank personal loan, This loan package allows individuals with a minimum salary of N18,000 or above to qualify for this loan.
The amazing benefits about this package is that it allows an individual to happily access a loan from N50,000 to 15 million naira without a collateral, for maximum repayment duration of 12 to 60 months, and with a reasonable interest rate with a salary domiciliation of 1 month.
Union Bank Personal Loan Requirements
- Filled Union Bank loan application form
- Letter of undertaking from the employer
2. Union Bank Business Loan
Union Bank business loan is also known as unionflexi loan. This bundle allows business owners with a minimum monthly salary of N2.5 million to apply.
In this loan bundle, a business owner can access a loan from 5 million to N50 million naira without requiring collateral, for maximum repayment duration of 12 to 60 months with a reasonable interest rate.
Union Bank Business Loan Requirements
- Finalized Union Bank loan application form
- Letter of undertaking from the employer.
3. Union Bank Payday/Pay advance Loan
Union Bank payday loan is also known as Pay advance loan. This loan bundle by Union bank is designed for salary earners, earning a minimum salary of N20,000 a month and are urgently in need of cash to run wanted or emergency business problems.
Business owners can access a loan from N25,000 to 50% of their monthly salary in advance with a maximum payback duration of 12 months with a Salary domiciliation of 1 month.
Union Bank Payday Loan Requirements
- Finalized loan application form
- Proforma invoice
- Letter of undertaking from the employer.
4. Union Banke SME Loan
Union Bank SME loan is a structure for small and medium-sized businesses who are in lack of capital to expand their business to a new length.
They can request up to 10 million loan with no collateral needed and with a remarkable interest rate to reimburse at your comfort usually in 2 to 12 months.
After applying, all requests will go through Union Bank lending guidelines. All suitability for the loan and the loan reason will all be assessed.
An acceptance letter is granted amid a successful loan application. This letter will include various terms and conditions, that you must fulfill before funds are spent.
A list of essential documents often requested includes:
- Completed application form
- Company profile
- Business plan
- Cash flow budget
- Bank statements (12 months)
- Audited financial accounts
- Certificate of Incorporation
- Valid means of identification (driving license, passport, voters card)
- Proof of address
Note. The credit facility sought — influences the particular documentation needed.
4. Union Bank Student Loan
Union Bank student loan has been designed to help parents/guardians with short-term financing to cover existing payments such as tuition fees, school uniforms, stationery, etc. for their children/wards in preparation for the next term fee payment.
For this loan bundle, they can request a loan from N200,000 to 5 million naira without collateral, an accessible interest rate, and a maximum repayment period of 90 days ( this loan is expected to be due within 5 months of resumption).
Document required for Union Bank Student Loan includes;
- Copy of CAC registration
- The state ministry of education approval
- Posted dated cheque from another bank covering 130% of the loan amount.
See How to Apply for: GTBank Soft Loan
There are three quick ways Union Bank customers can request and register for a loan, at any applicable Union Bank branch. You can also refer to the “Request for an Agent” service assistance online. Also, loans can be made through your mobile devices with the aid of a USSD code.
How to Apply for Union Bank Loan through the Website
To apply for a loan using this method, quickly follow these procedures:
- Login on to the Bank website at unionbankng.com
- Scroll down to the Apply for a loan option and click “learn more”
- Check through all the loan bundles click Apply on your choice of the bundle.
- Fill all required fields in your Union Bank loan application form
- Select your loan amount your interest rate will display
- Your money will be received within 24 hours if the application is accepted
- Payment is encouraged to be made within the payment required period
How to Apply for Union Bank Loan through USSD Code
This would be assumed to be the best, easiest and fastest way to get a loan from Union Bank. From the comfort of your home without the use of data connection, you can apply for a loan, to proceed to follow these simple steps:
Union Bank loan USSD code is 82641#. Which can be quickly used to execute all your Union Bank loan packages effortlessly without the use of data connection, or by stopping at any bank branch. A loan application will be granted within 24 hours.
How to Apply for Union Bank Loan Through Union Bank Branch
Getting a loan through this method is easy. All you have to do is visit any available Union Bank branch near you, obtain and fill in your loan application form. Your Loan disbursement will be within 24 hours.
Interest Rate of Union Bank Loan
Union Bank does not offer a fixed interest rate on loans, nonetheless, your interest rate will be agreed on at the time of your loan request.
Union Bank Loan Limits
Union Bank offers a loan of up to 50 million with a reasonable interest rate for a conclusive duration of 60 months.
Union Bank Loan Application
A loan application is utilized by customers to request a loan. Vital details about your financial situation when applying for a loan. The loan application is important for evaluating whether the lender will approve the request for funds or credit.
How to Repay Union Bank Loan
You are expected to pay back the loan within the required date Or on its due date. All loan repayment is made through the loan channels that will be on your form during your loan application.