Union Bank of India Personal Loan of 40000

Union Bank of India personal loans offer a practical option for individuals seeking financial help for diverse needs, including home upgrades, consolidating debts, or unexpected expenses. A ₹40,000 instant personal loan from Union Bank of India provides attractive interest rates and adaptable payment conditions, making these loans suitable for a broad array of financial requirements without any security. The application procedure is simple, requiring only a few documents and ensuring fast fund access, presenting a compelling option for those requiring immediate financial aid. Prospective borrowers should evaluate their repayability and be conscious of extra costs and charges. It's wise to examine the loan's details thoroughly and consider one's financial standing before making a final decision.

Union Bank of India 40,000 Instant Personal Loan Options

If you are planning to take a 40,000 personal loan from Union Bank of India, here are the loan options available. Take a look. 

• Union Personal Scheme for Salaried Individuals Other than Government Employees
• Union Personal Loan – Non Salaried
• Personal Loan Under Special Retail Lending Scheme for Government Employees 
• Union Professional Personal Loan Scheme

Features of Union Bank of India 40,000 Personal Loan

The following are the features of the Union Bank of India 40,000 Personal Loan: 

• Competitive Interest Rates
• Flexible Repayment Options
• Quick Approval and Disbursement
• Minimal Documentation
• No Collateral Required

Can I Get 40,000 Instant Personal Loan from Union Bank of India?

Urban Money offers an efficient way to access a Union Bank of India instant personal loan of up to ₹40,000, with funds quickly available, distinguishing itself as a premier fintech platform in India. It features an extensive range of loan and credit options from over 50 financial institutions, including well-known lenders such as Union Bank of India. Urban Money allows users to easily compare various credit options, determine their eligibility for loans, work out potential monthly repayments, and choose the option that best fits their financial needs. Following this, a specialised personal loan advisor from Urban Money will assist you throughout the application process until the loan amount is credited to your account, usually within 24 business hours.

What is the EMI for 40,000 Personal Loan?

Following are the 40,000 personal loan EMI, with loan tenures ranging from 1 year to 5 years: 

40,000 Personal Loan Eligibility Union Bank of India

For Union Personal- Salaried (other than Government employees)

The loan scheme is categorised into two types, each with its specific eligibility criteria:

Tie-up Category:

• It is not necessary for the applicants to have a salary account with the Union Bank of India. 
• A base monthly gross income of ₹15,000 is required, which rises to ₹20,000 for individuals living in Delhi, Mumbai, Bangalore, Kolkata, Pune, Chennai, and Ahmedabad.

Non-Tie-up Category:

• Must be a Union Bank of India customer for a minimum of 6 months before applying for the loan.
• Possession of a salary account with Union Bank of India is compulsory.
• A minimum monthly gross income of ₹15,000 is necessary; this increases to ₹20,000 for those residing in Ahmedabad, Pune, Bangalore, Delhi, Kolkata, Mumbai, and Chennai. 

For Union Personal Loan – Non-salaried

• Applicants must be at least 25 years old at the time of application.
• The loan should be fully repaid before the applicant turns 75.
• Applicants must have been bank customers for at least 2 years before applying.
• It is mandatory to have a current/savings account with Union Bank of India with an average quarterly balance of ₹25,000 maintained over the last four quarters.
• The account’s history must not contain any cheque returns or negative reports..

For Union Personal – Special Retail Lending Scheme for Government Employees

• Applicants need to be 18 years or older when applying for the loan.
• Applicants are not required to have an account with Union Bank of India.
• The main applicant should be employed in a government position.

For Union Professional Personal Loan

• Available to salaried and non-salaried professionals including Doctors, Engineers, Chartered Accountants, Company Secretaries, and Cost Accountants.
• Salaried applicants must be at least 18 years old, and non-salaried applicants must be 25 years old, at the time of application.
• The maximum age at loan maturity is the retirement age for salaried individuals and 65 years for non-salaried individuals.
• Applicants should have a yearly income of ₹12 lakh or above.

Union Bank of India 40,000 Personal Loan Documents Required

The following documents are required to apply for a 40,000 Union Bank of India Loan: 

• Completed application form and credit details.
• Two latest passport-size photos.
• ID Proof: Passport, PAN card, Aadhaar card, Voter ID.
• Address Proof: Passport, Aadhaar card, Driving License.
• Business or office address proof.
• Bank statements for the past 12 months.
• For salaried individuals:

1. Recent 3 months’ salary slips.
2. Income Tax Returns (ITR) or Form 16 for the previous 2 years.

How to Apply for 40,000 Personal Loan From Urban Money

The application process to apply for 40,000 Union Bank of India Personal Loan is outlined below:

• Visit the Urban Money website.
• Select “Personal Loan” under the “Loan” category on the main page.
• This action redirects you to the “Personal Loan” section.
• Scroll to discover the leading banks/NBFCs in India listed.
• Find “Union Bank of India” and click “Apply Now.”
• An online application form will appear.
• Fill in the form with your name, mobile number, and city details.
• You’ll receive a 6-digit OTP on your phone.
• Input the OTP and hit “Submit.”
• Shortly, a loan advisor from our team will contact you.