Multiple banks. Different interest rates. Call it a "conflict of interest".
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    We found 1 Union Bank of India Mudra Loan

    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    14.4% Floating
    0.5% (min. ₹500) One time fee
    5L Max
    1-5 Years
    Response Time Within 30 minutes
    Documents
    Perks
    Think about
    Eligibility Criteria

    Union Bank of India Mudra Loan is Rated as "Blown Away!" by 11 Users

    Fees & Charges

    Promised Interest Rate

    Customer Service

    Responsiveness

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    Overview about Union Bank of India Mudra Loan

    Micro enterprises are offered loans under Pradhan Mantri Mudra Yojana Loan by Union Bank of India. Micro enterprises, particularly those in the trading, manufacturing and service sector in urban, rural and metro areas will be offered loans by the bank.

    Why choose Union Bank of India Mudra Loan?

    Here’s why choosing Union Bank of India Mudra Loan to finance your business is advantageous:

    • Affordable Interest rates

      Pradhan Mantri Mudra Yojana Loan by Union Bank of India is offered with competitive interest rates. It is in the range of Base Rate (at present 9.65%) to Base Rate +1.50%.

    • Simple, transparent processing:

      As a borrower, one need not worry about putting up a collateral because loans covered under MUDRA Bank do not need collateral. Further, the friendly customer care service providers make sure that customers are taken care of throughout the process by handholding them through all the steps.

    Features of Union Bank of India Mudra Loan

    Loans are divided into three categories based on the loan amount:

    1. Tarun is the category of loan in which the loan amount is between Rs. 5.00 Lakhs and Rs. 10.00 Lakhs.
    2. Kishore is the category of loan in which the loan amount is between Rs. 50,000 and Rs. 5.00 Lakhs.
    3. Shishu is the category of loan in which the loan amount is up to Rs. 50,000.

    While assets which are created out of the bank loan is to be charged with the bank, borrowers do not need to put up a collateral for other loans.

    The following documents need to be submitted towards the security documents:

    • Hypothecation Agreement
    • DP Note
    • Letter of continuity
    • Term Loan agreement (If there is term loan) etc.

    One can find common loan application form on the official website of the bank.

    Union Bank of India Mudra Loan Interest Rates

    Pradhan Mantri Mudra Yojana Loan by Union Bank of India is offered with competitive interest rates. It is in the range of Base Rate (at present 9.65%) to Base Rate +1.50%.

    Union Bank of India Mudra Loan FAQs

    1. How much can I borrow as loan amount?

      Loans are divided into three categories based on the loan amount:

      • Tarun is the category of loan in which the loan amount is between Rs. 5.00 Lakhs and Rs. 10.00 Lakhs.
      • Kishore is the category of loan in which the loan amount is between Rs. 50,000 and Rs. 5.00 Lakhs.
      • Shishu is the category of loan in which the loan amount is up to Rs. 50,000.
    2. Which documents do I need to submit for a loan?

      The following documents need to be submitted towards the security documents:

      • Hypothecation Agreement
      • DP Note
      • Letter of continuity
      • Term Loan agreement (If there is term loan) etc.

      One can find common loan application form on the official website of the bank.

    3. What kind of business is eligible to apply for a loan from Union Bank of India?

      Micro enterprises are offered loans under Pradhan Mantri Mudra Yojana Loan by Union Bank of India. Micro enterprises, particularly those in the trading, manufacturing and service sector in urban, rural and metro areas will be offered loans by the bank.

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  • Union Bank of India Mudra Loan Reviews

    • Union Bank of India Personal Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      The response is really good with Union Bank of India. They have disbursed my personal loan within 10 days of time . They have offered me Rs.9,50,000 as a personal loan, the required loan amount has been given. The rate of interest is nominal. I got the loan for 10.65% interest rate which came under Pradhana manthiri budhi yojana. I am happy about the loan amount.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Jul 10, 2017
    • Union Bank of India Personal Loan
      "Easy and quick loan experience "
      0.5 5.0/5 "Blown Away!"
      The rates and the calculation of interest is the speciality of this personal loan. The documentation is minimal and most details are with them since I am a staff account holder for about 5.5 years. The loan processing including the disbursal took place in a week. I have availed a personal loan from Union Bank of India which is calculated at 8% interest rate on simple interest basis.
      Was this review helpful? 3
      , kolkata
      Reviewed on May 23, 2016
    • Union Bank of India Personal Loan
      "great bank for loan facilites "
      0.5 5.0/5 "Blown Away!"
      I feel its an awesome service provided by Union bank related to the personal loan application.I like each and every step about the loan process.One of my friend who work their have assisted me very well.Union Bank service is good.They understand the customer very well and the behavior is awesome.
      Was this review helpful? 1
      , ranchi
      Reviewed on May 03, 2016
    • Union Bank of India Personal Loan
      "Need more flexible options..."
      0.5 4.0/5 "Great!"
      Last year I have taken my personal loan from Union bank of India. Their process was very fast I got my loan amount within 1 or 2 days. They offered good interest. Best thing they allow us to make a part payment. Processing charges are higher my suggestion is, it should be reduce.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Feb 03, 2016
    • Union Bank of India Personal Loan
      "Need to speed up their service..."
      0.5 3.0/5 "Satisfactory"
      Interest part was similar in Union bank of India. I have taken the Personal loan from them. Documentary part was too lengthy. HDFC Bank was better compare to Union bank of India. Even the processing charges also higher side. Over all its fine.
      Was this review helpful? 7
      , varanasi
      Reviewed on Nov 07, 2015
    • Union Bank of India Personal Loan
      "Very Good"
      0.5 4.0/5 "Great!"
      The rate of interest for the car loan with the Union Bank of India is around 10.1%. There was some of the hundred Rupees as the processing charges. Loan amount disbursed within a week of time and it got happens before 3 to 4 days of time. There was no foreclosure charges like I can settle the loan after the first EMI.
      Was this review helpful? 3
      , pune
      Reviewed on Nov 02, 2015
    • Union Bank of India Personal Loan
      "Perfect bank for a corporate account holders "
      0.5 5.0/5 "Blown Away!"
      Since I a corporate account holder with UNION BANK OF INDIA took my personal loan from them. Recently I have taken this loan because they have offered me12.90% rate of interest with zero processing fees. My home branch is located in my native place.
      Was this review helpful? 1
      , jodhpur
      Reviewed on Oct 24, 2015
    • Union Bank of India Personal Loan
      "Union bank personal loan review"
      0.5 5.0/5 "Blown Away!"
      Based on my salary account UNION Bank of India , they have provided a personal loan to me.The interest rate offered by them was very less and also they managed to offer loan at a reduced interest rate. They did not ask for documentation fee and there was no verification for the same and they took around 2 days of time to provide the loan.
      Was this review helpful? 5
      , ernakulam
      Reviewed on Aug 22, 2015
    • Union Bank of India Personal Loan
      "Good "
      0.5 5.0/5 "Blown Away!"
      The loan experience was really good because I have my salary account with Union Bank of India.The customer service provided was really good and the loan amount disbursed within 7-10days and I didn't face any issue with the bank.I will surely recommend this bank for the loan process.
      Was this review helpful? 6
      , kolkata
      Reviewed on Jun 19, 2015
    • Union Bank of India Personal Loan
      "Really happy"
      0.5 4.0/5 "Great!"
      I am happy that Union Bank of India was ready to offer me the loan when I was in need of that. I hold a savings account with them, apart from that I also hold a fixed deposit with them worth rs 2 lakh based on that I guess, they have offered me a loan of one lakh immediately. Response is very good and they took around a week time to provide this loan.
      Was this review helpful? 3
      , hyderabad
      Reviewed on Apr 30, 2015
    • Union Bank of India Personal Loan
      "Outstanding"
      0.5 5.0/5 "Blown Away!"
      It was very easy for me to avail a personal loan from Union bank of India last month as I am an employee of the bank. They offered me a very good rate of interest around 10.25%. I was supposed to be taking the loan from another but I changed my mind and decided to avail the loan from UBI at the last moment. The documentation was very minimal and they disbursed my loan of rs5 lakhs in just 2 days of time. It was an excellent experience to me.
      Was this review helpful? 17
      , indore
      Reviewed on Nov 04, 2014
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