Multiple banks. Different interest rates. Call it a "conflict of interest".
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    We found 1 Union Bank Personal Loan Eligibility Calculator

    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
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    Eligibility Criteria

    Union Bank Personal Loan Eligibility Calculator is Rated as "Blown Away!" by 11 Users

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    About Union Bank Personal Loan

    Most customers take personal loans when they are in urgent need for cash. Personal loans are considered the easiest route to get funds to meet short-term financial requirements of any nature. From going abroad for a vacation and planning weddings to home renovation and purchasing hitech gizmos, a personal loan can be used for any purpose including emergencies. Union Bank offers personal loans to salaried persons, KVS employees, PSU employees and state/central government employees.

    Union Bank Personal Loan Eligibility

    The eligibility criteria for salaried persons is as follows:

    • For salaried individuals
    • Minimum Age: 21 years

      Maximum Age: 58 years

      Income: Salaried with regular income

      Maximum Loan Amount: Rs. 5 lakh

      Guarantor: Required

      Loan Tenure: 5 years

    • For KVS and NVS Employees
    • The eligibility criteria for KVS and NVS Employees is as follows:

      Employment Profile: Permanent employee of Kendriya Vidyalaya Sanghatan (KVS) or Navodaya Vidyalaya Sanghatan (NVS) employee.

      Minimum Income: Regular source of income with a salary account with Union Bank.

      Experience: A minimum of three years of service is required. Customer should ensure there is enough residual service so he or she can repay the loan one year before retirement.

      Maximum Loan Amount: Up to Rs. 10 lakh

      Repayment: 5 years

      Guarantee: Two guarantees required

    • For Government / PSU Employees
    • Union Bank provides personal loans to employees of labour and employment, environment and forest, science and technology, statistics programme implementation, All India Services’ officers, state and central PSUs executives, home and defense ministries’ employees.

      The eligibility criteria for government employees is as follows:

      Employment Profile: Permanent employee of Public Sector Undertakings and Central or State Government departments with a salaried account with Union Bank.

      Maximum Loan Amount: Up to Rs. 10 lakh

      Repayment: 5 years

      Guarantee:Two guarantees required

    • For Existing Housing Loan Borrowers
    • Union Bank offers personal loans for various home related expenses such as buying furniture and interiors among others.

      The eligibility criteria for existing housing loan borrowers is as follows:

      Employment profile: Salaried or non-salaried customers who acquired housing loan from Union Bank.

      Maximum Loan Amount: 5% of housing loan amount, subject to a maximum Rs. 5 lakh.

      Repayment: 5 years

      Guarantee: Spouse’s guarantee is required. If the borrower is a widow/widower or unmarried, a third party guarantee is required.

      Security: Undertaking that borrower will repay the personal loan account prior to the home loan account.

    Factors Affecting Eligibility Of Union Bank Personal Loans

    • Stable employment: Banks are wary of customers who change their jobs frequently- do not strive to consolidate their position in one company. Frequent change of jobs makes employees more vulnerable to layoffs in addition to weakening their prospects of getting promotions and increments. Customers who have been with a company for a longer period of time will have little trouble acquiring personal loans.
    • Number of loans: Loan eligibility of a customer will take a beating if he or she has taken several loans at a given point of time. CIBIL report will reflect the credit behaviour of the loan applicant. If a customer is too credit hungry, his or her CIBIL report will reflect his lack of fiscal prudence. Consequently, most banks will not entertain customers who are not aware of the perils of excessive credit which may eventually lead to a debt trap and defaults.
    • Relationship with Union Bank: Many customers usually tend to be loyal to one bank or another over a period of time. Loyalty to a bank leads to an easy rapport with a bank which may result in attractive interest rates on personal loans for the benefit of customers. More often than not, customers who have been associated with a bank can avail of personal loans without any hassles.
    • Income: Banks have to ascertain the ability of a customer to repay the loan. Union Bank has set a minimum monthly net salary as one of the eligibility criteria to ensure that customers have a sound financial strength or base in terms of income.

    How CIBIL score affects your Union Bank Personal Loan Eligibility?

    • Credit score: One of the most important factors which affect a customer’s loan eligibility- credit score, gives banks an accurate data of credit behaviour of the loan applicant. A bad credit may effectively mar the chances of availing a personal loan by Union Bank. Alternatively, a very good Cibil score can boost the chances of acquiring a personal loan.
    • Repayments: Customers have to ensure that they pay their EMIs on time. If customers have more than one loan, they will find it difficult to repay loan instalments on schedule. Payment of bills regularly without fail is, therefore, of seminal importance since it has a bearing on cibil score, which is reviewed by banks before approving a loan.

    How to increase Union Bank Personal Loan Eligibility?

    • Creditworthiness: Timely payment is an important determinant of the creditworthiness of a customer. CIBIL score of 750 score and above shows creditworthiness of a customer. In most cases, banks easily approve loans for customers who have a CIBIL score of over 700. Customers should ensure that they have a robust track record in terms of repayments to increase their eligibility to avail of personal loans.
    • Clean record: Customers have to ensure that they have a clean repayment history. CIBIL score is adversely affected if a customer defaults or makes late payments. Banks will take serious note of any defaults by the customer in the recent past.

    FAQs on Union Bank Personal Loan Eligibility

    1. What is the maximum loan amount offered by Union Bank as per Union Personal scheme?

      The maximum amount of loan offered under the scheme is Rs. 5 lakhs.

    2. What are the loan tenure options as per Union Personal scheme?

      The repayment period is maximum of 5 years.

    3. What is the maximum loan amount offered for KVS employees?

      KVS employees can avail of personal loans from Union Bank for up to Rs. 10 lakh.

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  • Personal 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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