Union Bank Self Employed Personal loan

Getting a personal loan is difficult for self-employed individuals. This is mainly due to their uncertain income profile compared to salaried individuals. A Union Bank self-employee personal loan is one of the few credit options to address the typical challenges those with irregular income face. In this all-in-one guide, Urban Money presents a detailed overview of Union Bank's self-employee instant loan, covering the applicable interest rates, required documents, pertinent eligibility criteria, associated fees, and more. Keep scrolling down to know further. 

Union Bank Personal Loan for Self Employed – Highlights

Let’s examine the Union Bank self employee personal loan interest rates and other key parameters you should be aware of before initiating the loan application:

Compare Self Employed Personal Loans from Other Banks

Below is the comparison of a Union Bank self employee personal loan with other top lenders across India:

Union Bank Personal Loan for Self Employed – Fees and Charges

Let’s take a look at the expected fees and charges of a Union Bank self employee instant loan:

Union Bank Personal Loan for Self Employed – Documents Required

The Union Bank self employee personal loan document requirements are as follows: 

• Duly filled loan application form along with two passport-size photographs.
• Proof of identity, such as an Aadhaar card, PAN Card, driving license, or voter ID.
• Proof of residence, such as a registered rent agreement, utility bill, or passport.
• Proof of income, such as profit and loss (P&L) statements, balance sheets, bank statements, business address proof, etc.

Union Bank Personal Loan for Self Employed – Eligibility Criteria

The Union Bank self employee personal loan eligibility requirements are as follows:

• You must be aged between 25 and 75 years old.
• You must have held a bank account with Union Bank for at least 24 months before initiating the loan application.
• You must have a good credit score and a positive repayment history.
• You must have a regular source of income that can cover the loan EMI.
• You must be an Indian citizen.