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    Union Bank Personal Loan

    One of the biggest government-owned banks in the country, Union Bank offers personal loans at competitive interest rates, flexible tenures, and easy documentation procedures. The interest rate for a Union Bank personal loan is 14.4% and the processing fees applicable to the loan are just 0.5% of the loan amount. The repayment tenures are quite flexible, ranging from 1 year to 5 years, and the maximum amount you can borrow through a Union Bank personal loan is Rs.5 lakh. 

    We found 1 Union Bank Personal Loan
    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    14.4% Fixed
    0.5% (min. ₹500) One time fee
    5L Max
    1-5 Years
    Response Time : Within 30 minutes
    Think about
    Eligibility Criteria
    Union Bank Personal Loan is Rated as "Blown Away!" by 19 Users

    Fees & Charges

    Promised Interest Rate

    Customer Service



    Union Bank of India (UBI) is one of the largest government-owned banks of India (the government owns 60.13% of its share capital) founded in Mumbai . It is listed on the Forbes 2000, and has net income of 4,75,673 crores. All the bank's branches have been networked with its 4129 ATM's. UBI offer loans with different product like Home Loan, Personal Loan, Education Loan, Loans for Pensioners, Loan for Senior Citizen. The Union Personal loan plays an important role in helping you avail loans to meet personal expenses such as purchase of consumer durable, etc. All you have to do is to follow some simple steps to get attractive deals.

    Union Bank Personal Loan Interest Rates Updated on 17 Feb 2019

    Union Bank Personal Loan Details
    Interest Rate 14.40%
    Processing Fees 0.50% of the loan amount or Min Rs.500
    Loan Tenure 5 years
    Guarantor Requirement Guarantor required

    About Union Bank Personal Loan

    Enquire for Union Bank Personal Loan

    Union Bank of India was established in the year 1919, in the city of Mumbai. Union Bank personal loans are a much sought-after financial product. The father of the nation, Mahatma Gandhi inaugurated the head office of Union bank in the year 1921. It is one of the largest nationalized banks of the country. With over 4000 branches across the length and breadth of the nation, Union Bank has been able to meet the vision of comprehensive growth and uninterrupted profit.

    The bank has a large customer base of over 49 million customers and has a diversified circle of expertise that includes private banking, corporate banking, risk management, rural and agriculture banking and NRI banking. Union Bank has also been a pioneer in the inclusion of technology in banking operations. The bank has a network of core-banking branches and has been a leader in developing innovative financial products and services. Such technically advanced services have ensured cost optimization, profit maximization along with substantial speed in transactions and convenience for customers.

    The bank not only has a massive customer base but also a highly dedicated team of bankers who are spread throughout the nation and show an exceptional willingness to learn and adhere to values that the bank stands for.

    Why choose Union Bank Personal Loan?

    Whether it is a wedding in the family or an exotic vacation or house renovation, Union Bank Personal Loans make sure you never have to think twice before spending on your loved ones or on their dreams. Any major spending needs to be planned in advance but not now; with Union Bank Personal Loans you can fulfill your wishes instantly and can then pay in a relaxed way via monthly EMIs.

    Union Bank offers various types of personal loans. Some of the major categories of personal loans by Union Bank are “

    • Personal Loan for existing Home Loan borrowers

      As the name of the loan indicates, these are meant for customers who already have an ongoing Home Loan with the Union Bank. These personal loans are specially sanctioned for house related expenses like house warming party, house interiors, insurance premium payment etc. The maximum loan amount that can be availed is 5% of the housing loan amount up to a maximum of Rs.5 lakhs

    • Personal Loan for KVS and NVS employees

      This personal loan scheme is meant for employees who have been employed for 3 or more years with either Kendriya Vidyalaya Sangathan or with Navodalaya Vidayalaya Sangathan. The applicant is required to have a regular income along with a bank account with the Union Bank. Also, it is required that the applicant has a substantial period of service remaining in order to pay off the whole loan. The maximum loan amount offered under this personal finance scheme is Rs.10 lakhs.

    • Personal Loan for Govt./PSU employees

      State Government and Central Government employees can now easily avail cash for miscellaneous expenses by applying for a personal loan scheme designed especially for them. The maximum loan amount under this personal finance scheme is Rs.10 lakhs. The applicant needs to have a regular salary and a substantial period of employment remaining so that the loan amount is paid off one year before the applicant retires.

    Low Rate of Interest: The applicable rate of interest on Union Bank personal finance products is considerably competitive with respect to personal loans from other banks. The rate varies form 12.75% per annum to 14.75% per annum.

    No Securities or Collaterals required: Union Bank does not require applicants to submit any kind of security or collaterals for availing the personal finance scheme by Union Bank. The documentation is minimum with just some basic documents required for age, income and employment proof.

    Features of Union Bank Personal Loan

    Union Bank Personal Loans come with assurance of the state-owned institutions. The rates of interest are attractive as well as lower as compared to other competitor banks. Personal loans from Union Bank are available in different categories to suit best the employment type and loan needs of different personal loan applicants.

    Flexible Tenure: The loan repayment tenure is flexible and can be repaid in a maximum of 5 years. The loan tenure can range between 12 months and 60 months. The EMI date is directly dependent on the date when your personal loan disbursement happened.

    Eligibility for Union Bank Personal Loan: Eligibility criteria for Union Bank Personal Loans is as listed below.

    • Applicant should be an existing customer of Union Bank
    • Applicant should be a resident of India
    • Customer should have a regular income and should be a salaried employee (Government service or a regular corporate job)
    • Applicants minimum age should be 21 years

    Documents required for Union Bank Personal Loan: Here is a list of documents that you need to be ready with if you are planning to avail a personal loan from Union Bank“

    • Duly-filled Loan Application form
    • Any one proof of identity, for e.g. Voters Card/ Passport/Aadhar Card/Photo Ration Card or any other ID proof
    • Any Residence Proof like Gas bill, Passport and so on
    • Any Age Proof like Driving License, Birth Certificate etc.
    • Latest Salary Slips or Form 16
    • Last 3 months salary account statements
    • 3 passport sized photographs
    • Proof of all investments and savings like LIC payments, other loan repayment statements and so on

    Union Bank Personal Loan Interest Rates

    œUnion Personal, the personal loan product offered by UBI comes at extremely competitive interest rates, offering ease of repayment to borrowers. The date on which a loan was sanctioned determines the benchmark which a borrower falls under, with the two popular benchmarks used by the bank being MCLR and Base Rate.

    Union Bank of India Marginal Cost of Funds Based Lending Rate (MCLR) (For new borrowers)

    MCLR based benchmarks were introduced to account for changing economic conditions, factoring the operation costs of UBI before computing the final interest. These rates are subject to change, with the current rates highlighted below.

    MCLR Benchmark Tenure (Period) Benchmark Rates (MCLR)
    Overnight 9.20%
    1 month 9.25%
    3 months 9.30%
    6 months 9.40%
    1 year 9.45%
    2 years 9.50%
    3 years 9.55%

    Personal loan interest rates (MCLR)

    Interest charged by the bank depends on the borrower profile, with differential rates applicable, as shown in the table below.

    Parameter Interest Rate
    Salaried borrowers 14.40% per annum
    Loan availed through a tie-up 13.40% per annum
    Borrowers who have an existing home loan with the bank MCLR + 2.15% = 11.60% per annum
    Employees working in government sector MCLR + 3.40% = 12.85%
    C-DAC employees 12.40% per annum

    Union Bank of India Base and Prime Lending Rates (For existing borrowers)

    The base and prime lending rates at UBI are highlighted below.

    Base Rate 9.65% per annum (effective October 5, 2015)
    Prime Lending Rate 14.25% per annum (effective March 1, 2016)

    Union Bank of India personal loan interest rate (Base Rate)

    The base rate is used as a benchmark to determine interest rates for borrowers who availed loans before MCLR was introduced. Individuals who do not wish to move to the new system can continue paying rates according to the base rate, with the final interest computed after taking a number of factors into consideration. UBI typically charges an interest ranging between 12% per annum and 16% per annum, depending on the borrower profile.

    Note: Union Bank of India reserves the right to modify/alter the interest rates at its sole discretion, with all rates subject to change without prior intimation. Rates mentioned above are effective as of June 17, 2016. Eligible borrowers are advised to check prevailing rates at the time of application.

    How to calculate EMI for Union Bank Personal Loans

    Personal Loan EMIs can be calculated via Online EMI Calculator tool which is hosted on The tool aims to give the applicant a tentative idea of the monthly repayment that he/she would be making if Union Bank personal finance scheme is availed. This online calculator is free of cost and can be used successfully in planning the monthly expenses so as to get a fair idea of how to fit in the personal loan EMI among other monthly expenditure.

    Union Bank Personal Loan FAQs

    1. How do I Apply for Personal Loan from Union Bank?

      A customer can avail of any one of the following ways to apply for Union Bank Personal Loan “

      • Visit any of the Union Loan Point (ULP) branches and apply for a personal loan
      • Visit any Union Bank branch and apply for a personal loan
      • Request for a call-back online
      • Contact 24x7 customer care of Union Bank
    2. How much time will Union Bank take for processing my personal loan?

      Generally, any personal loan is sanctioned within 3 days of applying in case all the required documents have been submitted.

    3. What are the processing charges for Union Bank Personal loan?

      A processing fee of 0.5% of the disbursed loan amount is charged and is subject to a minimum of Rs.500.

    4. What is the maximum loan amount that can be availed via Union Bank Personal Loan?

      The maximum loan amount depends upon your job category. Here are the few important job categories and their respective loan amounts “

      Job Type Maximum Loan Amount
      Personal Loan for Salaried Employees Up to 5 Lakhs
      Personal Loan for KVS and NVS Employees Up to 10 Lakhs
      Personal Loan for Govt./PSU Employees Up to 10 Lakhs
    5. What is the personal loan amount allowed in case I already have a Home Loan with Union Bank?

      The personal loan amount eligibility for existing Home Loan customers of Union Bank is 5% of the home loan amount disbursed, subject to a maximum loan amount of Rs.5 Lakhs.

    6. Is a guarantor required for availing personal loan from Union Bank?

      Yes. Two guarantors are required to sign your personal loan application with Union Bank.

    7. What is a moratorium period and how much is it for Union Bank personal loans?

      Moratorium period is the period for which you might not be required to pay any loan repayments. The Moratorium period on Union Bank Personal Loans is nil.

    8. What security or collaterals do I need to submit to the bank for availing personal finance from Union Bank?

      No. You need not submit absolutely any form of security for availing Union Bank personal loan.

    9. Can I choose partial disbursement of my personal loan?

      No. Partial disbursement of personal loans is currently not available with Union Bank personal loans.

    10. Will I get a written certificate when I have paid off my whole Union Bank personal loan?

      Yes. The bank will issue a œNo Due Certificate when you have fully paid off your personal loan.

    11. How do I repay my personal loan with Union Bank?

      Your personal loan will be repaid via 60 EMIs which will be deducted through standing instruction on your salary account.

    Union Bank Personal Loan Reviews

    • Union Bank of India Personal Loan
      "Very Good Service"
      0.5 4.0/5 "Great!"
      I had taken this loan a while back and the experience was quite good, the loan amount has been sufficient and the interest rate with them has been nominal when compared with the market rate. There has not been any additional charges which they had made and there has only been some charges of 3000 which they had taken for the insurance.
      Was this review helpful? 2
      , kolkata
      Reviewed on Jan 21, 2019
    • Union Bank of India Personal Loan
      "Best in service"
      0.5 5.0/5 "Blown Away!"
      I hold a Savings account with Union Bank of India. I had applied for a Personal loan and my application was processed on time. The interest rates are very much reasonable when i compare with other banks. The interest rates is 10.4% .My loan application was processed on time and it is Best in need.
      Was this review helpful? 12
      , hyderabad
      Reviewed on Dec 20, 2018
    • Union Bank of India Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I have been taken my short term personal loan with Union bank, they provide me sufficient loan amount, there rate of interest was nominal like it is nationalized bank for that reason i have taken my personal loan and they have not charged any processing fee,overall service is good.
      Was this review helpful? 12
      , bangalore
      Reviewed on Nov 15, 2018
    • Union Bank of India Personal Loan
      "Experience is good"
      0.5 5.0/5 "Blown Away!"
      My personal loan is with Union bank of India. The customer services and response is good. The documentation process is smooth. There are no hassles to get the loan. The rate of interest and processing charges is normal. Overall no issues till date.
      Was this review helpful? 9
      , new delhi
      Reviewed on Sep 24, 2018
    • Union Bank of India Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I have taken a personal loan with Union Bank of India and my loan experience was good, the loan amount was for Rs 4 lakhs with nominal interest rate. There are no preclosure charges for this loan. Customer service was good and the tenure period is 5 years.
      Was this review helpful? 16
      , chennai
      Reviewed on Jul 26, 2018
    • Union Bank of India Personal Loan
      0.5 5.0/5 "Blown Away!"
      Union bank of India offers good personal loan the Expected loan is given but It took 10 days to approve the bankers clearly informed about the loan payment everything the payment is done through the account and the interest rate is affordable.
      Was this review helpful? 11
      , new delhi
      Reviewed on May 03, 2018
    • Union Bank of India Personal Loan
      0.5 5.0/5 "Blown Away!"
      I have taken a personal loan from Union Bank of India and being an existing customer the services are good and there are no hassles in the process. The documentation is simple and the rate of interest and processing charges are normal and no inconvenience overall.
      Was this review helpful? 20
      , mumbai
      Reviewed on Nov 13, 2017
    • Union Bank of India Personal Loan
      0.5 5.0/5 "Blown Away!"
      I finally took the personal loan from Union bank of India. I went ahead with the bank because I got a better offer on the interest rate and the charges are normal. The process to get the loan is also great and the documentation is normal and the disbursement was as expected.
      Was this review helpful? 10
      , chennai
      Reviewed on Sep 27, 2017
    • 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? 9
      , 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? 9
      , 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? 4
      , 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? 2
      , 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? 10
      , 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? 7
      , 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? 3
      , 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? 13
      , 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? 10
      , 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? 9
      , hyderabad
      Reviewed on Apr 30, 2015
    • Union Bank of India Personal Loan
      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? 30
      , indore
      Reviewed on Nov 04, 2014
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