Union Bank of India Personal Loan of 50000

Union Bank of India personal loans are a reliable solution for individuals needing financial support for various purposes, such as home improvements, debt consolidation, or unforeseen expenditures. Union Bank of India offers a ₹50,000 instant personal loan with competitive interest rates and flexible repayment plans, fitting a wide range of financial situations without demanding collateral. The application process is streamlined, needs only minimal documentation, and provides quick access to funds, making it an appealing choice for those needing financial assistance. However, potential borrowers should assess their repayment capabilities and be aware of any additional fees or charges. Carefully reviewing the loan's terms and evaluating one's financial health before proceeding is advisable.

Union Bank of India 50,000 Instant Personal Loan Options

50,000 is a good amount for a personal loan that you can use for various purposes. If you plan to take a 50,000 personal loan from Union Bank of India, here are the available loan options. 

• 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 50,000 Personal Loan

The following are the features of the Union Bank of India 50,000 Personal Loan: 

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

Can I Get 50,000 Instant Personal Loan from Union Bank of India?

Urban Money provides a streamlined avenue to secure a Union Bank of India personal loan of up to ₹50,000, quickly disbursing funds and establishing itself as a leading fintech platform in India. With a broad selection of loan and credit products from over 50 financial entities, including reputable lenders like Union Bank of India, the platform enables users to compare different credit solutions, verify their loan eligibility, estimate monthly repayments, and select the best financial option. 

What is the EMI for a 50,000 Personal Loan?

Following are the 50,000 personal loan EMI, with loan tenures ranging from 1 year to 5 years: 

50,000 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:

• Applicants do not need a salary account with Union Bank of India.
• A minimum monthly gross income of ₹15,000 is needed, increasing to ₹20,000 for those residing in Delhi, Mumbai, Bangalore, Kolkata, Pune, Chennai, and Ahmedabad.

Non-Tie-up Category:

• Required to have been a Union Bank of India customer for at least 6 months before loan application.
• Having a salary account with Union Bank of India is mandatory.
• Must have a monthly gross income of at least ₹15,000, which increases to ₹20,000 for residents of Ahmedabad, Pune, Bangalore, Delhi, Kolkata, Mumbai, and Chennai.

For Union Personal Loan – Non-salaried

• Applicants should be a minimum of 25 years of age when applying.
• The loan must be completely paid off before the applicant reaches the age of 75.
• Applicants are required to have been customers of the bank for no less than 2 years before applying.
• It’s obligatory to hold a Union Bank of India current/savings account with a maintained average quarterly balance of ₹25,000 for the previous 4 quarters.
• The account history should be free of any cheque returns or adverse records.

For Union Personal – Special Retail Lending Scheme for Government Employees

• Applicant(s) must be at least 18 years old at the time of loan application.
• Applicants do not need to have an account with the Union Bank of India.
• The government must employ the primary applicant.

For Union Professional Personal Loan

• It is open to both salaried and self-employed professionals, such as Doctors, Engineers, Chartered Accountants, Company Secretaries, and Cost Accountants.
• Minimum age requirement: 18 years for salaried and 25 years for non-salaried applicants at the time of application.
• Maximum age at loan repayment: retirement age for salaried and 65 years for non-salaried applicants.
• Annual income requirement: at least ₹12 lakh.

Union Bank of India 50,000 Personal Loan Documents Required

The following documents are required to apply for a 50,000 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 50,000 Personal Loan From Urban Money

The application process to apply for 50,000 Union Bank of India Personal Loan is outlined below:

• Navigate to the Urban Money website.
• Choose “Personal Loan” from the “Loan” section on the homepage.
• You’ll be directed to the “Personal Loan” area.
• Scroll to see a list of top banks/ NBFCs in India.
• Locate “Union Bank of India” and select “Apply Now.”
• An online form will be displayed.
• Complete the form with your name, mobile number, and city.
• A 6-digit OTP will be sent to your mobile.
• Enter the OTP and click “Submit.”
• A loan advisor from our team will get in touch with you shortly.