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Union Bank Salaried Employee Personal loan
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The Union Bank Salaried Employee Personal loan is an ideal option for those who have a consistent income between Rs. 15000 to Rs. 20000. With a short 3 days disbursement period, an attractive interest rate, and an option for those who don't have a salary account with the bank makes the Union Bank Salaried Employee Personal loan a viable option. A minimum documentation process and a lower age limit of 18 years make the loan accessible for the majority. Learn more about the Union Bank's personal loans for salaried employees in this guide.
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Table of Content
Union Bank Personal Loan for Salaried Employee – Highlights
Let’s look at the key parameters of the Union Bank Salaried Employee Personal loan
Interest Rate | 11.75% p.a. -13.35% p.a. |
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Maximum Loan Amount | 15,00,000 |
Maximum Loan Tenure | 60 Months |
Processing Fees | 1.0% of the loan amount |
Minimum Monthly Salary | 15,000 – 20,000 |
Compare Union Bank Salaried Employee Loan from Other Banks
Below is the comparison of Union Bank’s Salaried Employee Personal loans with the offerings from other banks across India
Lender Name | Interest Rate |
State Bank of India | 11.15% p.a. onwards |
HDFC Bank | 10.50% p.a. onwards |
Axis Bank | 12.00% p.a. onwards |
Bank Of Baroda | 12.40% p.a. onwards |
IDBI Bank | 9.50% p.a. onwards |
Yes Bank | 10.99% p.a. onwards |
Kotak Mahindra Bank | 10.75% p.a. onwards |
Union Bank Personal Loan for Salaried Employee – Fees and Charges
Here is the list of charges applicable to the Union Bank Salaried Employee Personal loan
Processing Fee | Up to 1% of the loan amount |
Prepayment Charges | 2% charge applies to term loans with repayment periods exceeding 36 months. |
Late Payment Fees | Nill |
Union Bank Personal Loan for Salaried Employee – Documents Required
Below are the documents required to avail of the Union Bank Salaried Employee Personal loan
- Identity proof – PAN card, voter’s ID, Passport, Aadhaar etc.
- Address proof – Driving license, Passport, Aadhaar, etc., and office/business address proof.
- Income proof – last 2 years ITR/Form 16, latest 3 months salary slip and Bank statement of last 12 months.
Union Bank Personal Loan for Salaried Employee – Eligibility Criteria
Listed below are the eligibility criteria for applying for the Union Bank Salaried Employee Personal loan
- The applicants must be salaried employees from reputed private institutions in India
- The applicants must be between 18 and 65 years old.
- The applicants must have a monthly salary between 15000-20000.
- The applicant must be an Indian citizen.