Union Bank Senior Citizens/Pensioners Personal loan

As you age, unexpected expenses may arise. Union Bank's Personal Loan for Senior Citizens is here to assist you, whether it be a medical bill, home repair, or a dream vacation. Recognising the significance of financial security and aid during your golden years, Union Bank offers a convenient and accessible method for senior citizens to manage their expenses through their Union Cash program. By offering competitive interest rates, flexible repayment options, and a simplified application process, Union Bank ensures that senior citizens can access financial support with dignity and convenience. This personal loan product offers peace of mind and financial flexibility, allowing seniors to enjoy retirement without financial concerns.

Union Bank Personal Loan for Senior Citizens – Highlights

Look at the highlights for Union Bank personal loans for senior citizens. 

Compare Union Bank for Personal Loan from Other Banks

Here is a quick comparison of Union Bank Senior Citizens Loan with other banks. Take a look! 

Union Bank Personal Loan for Senior Citizens – Fees and Charges

Here is a quick rundown of fees and charges for Union Bank personal loans for senior citizens. 

Union Bank Personal Loan for Senior Citizens – Documents Required

For Union Bank’s Personal Loan for Senior Citizens, the documentation process is streamlined to make it easier for seniors to apply. Here’s a list of the documents required:

• Fully Filled Application Form
• Proof of Identity: (Aadhar Card/ PAN Card/ Voter ID/ Passport)
• Proof of Age: (Birth certificate/ PAN Card/ any government-issued document)
• Proof of Residence: (Recent utility bills/ Aadhar Card/ Passport/ Voter ID card)
• Income Proof: (Pension slips/ bank statements/ IT Returns to prove income stability)
• Bank Statements

Union Bank Personal Loan for Senior Citizens – Eligibility Criteria

The eligibility criteria for the Union Bank Personal Loan for senior citizens are:-

• To be eligible for the loan, the individual must be classified as a senior citizen, typically 60 years or older.
  
• The maximum loan amount is Rs. 10.00 lakh if the individual is up to 70 years old when applying for the loan.
  
• If the individual is above 70 years old, the maximum loan amount will be Rs.5.00 lakh. 
• Applicants must have a steady source of income, such as a pension, interest from deposits, rental income, or any other verified and regular income.
• It is advisable to have a co-applicant or a guarantor to reduce the risk, especially when the loan amount is significant, or the senior citizen’s income is considered unstable.