Union Bank of India Personal Loan of 1 lakh

Need ₹1 Lakh? Union Bank's personal loan can help. This loan is ideal for various situations, such as unexpected medical bills, home improvement projects, or debt consolidation. This guide will walk you through the application process for both salaried and self-employed individuals. We'll cover eligibility requirements and the benefits of a streamlined application process with quick disbursal. Scroll down to make informed financial decisions and get the funds you need quickly.

Personal Loan Options For 1 Lakh In Union Bank

Union Bank offers several personal loan options that could accommodate a need for ₹1 lakh, depending on the borrower’s profile, including:

• Union Personal for salaried individuals, with competitive interest rates and repayment terms.
• Union Personal for Non-Salaried Individuals is designed for self-employed professionals and business owners. It offers flexible repayment based on income patterns.
• Union Women Professional Personal Loans: Target specific groups with potentially more favourable terms or rates.

Features Of Union Bank 1 Lakh Personal Loan

The features of a ₹1 lakh personal loan from Union Bank include:

• Competitive interest rates.
• Flexible repayment options, up to 5 years.
• Quick processing, with the potential for in-principal approval instantly online.
• Unsecured loan, not requiring collateral.
• Requires basic documentation like ID proof, address proof, income proof, etc.
• Option to apply online for convenience.
• It can be used for various personal needs, from home renovation to travel expenses.

Can I Get 1 Lakh Personal Loan Instantly From Union Bank?

Union Bank streamlines personal loan processing for qualified applicants. In-principle approval can be obtained instantaneously online, provided you meet the eligibility criteria and have all necessary documentation prepared. Upon final approval and verification,  funds can be disbursed within 3 business days. 

What Is The EMI For 1 Lakh Loan?

Following are the EMI that you may face while taking Union Bank of India personal loan of 1 lakh at 11.35% interest p.a.

Eligibility Criteria 1 Lakh Loan In Union Bank

For a ₹1 lakh loan from Union Bank, the eligibility criteria include:

• Indian resident
• Age: 18 to 60 years for salaried, 23 to 65 years for self-employed
• Stable income; for salaried, employed for a minimum period (often 1-2 years), and for self-employed, a steady business record
• Minimum income: around ₹15,000 for non-metro cities and ₹20,000 for metro cities.
• Good credit score (above 650 is recommended)

Documents Required 1 Lakh Union Bank Loan

For a ₹1 lakh personal loan from Union Bank, you need:

• Identity proof (Aadhaar/PAN card)
• Address proof (Utility bill/Passport)
• Salary slips (last 3 months for salaried)
• Bank statement (last 6 months)
• ITR/Form 16 (last 2 years for self-employed)
• Proof of profession/employment

How To Apply For 1 Lakh Personal Loan From Uban Money?

Get your 1 Lakh Union bank personal loan quickly with Urban Money’s easy application process:

• Click the link we provided to visit our website’s personal loan section.
• Look for the “Union Bank Personal Loan” option and click “Apply Now.”
• Enter your basic details like name, phone number, and city. Then, confirm your phone number with a one-time code (OTP).
• Once you submit the form, you’re all set! An Urban Money representative will contact you to collect any required documents.