Union Bank Salaried Employee Personal loan

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.

Get in Touch for Personal Loan Expert Advice
Connect with our Personal Loan Advisor Now!
  • Personalized Personal Loan solutions
  • Expert guidance
  • Application assistance
  • Credit score discussion
  • Personal Loan Interest rate comparison
+91
Choose City

Written By
Utsah Sharma
Utsah Sharma
Utsah Sharma is a seasoned financial expert with a Master’s Degree in Commerce specialising in Financial Services, Investments, Loan Assessments, Mutual Funds, Banking & Loan products. Drawing on her experience, she has established herself as a trusted voice, providing invaluable insights and guidance to seasoned investors and beginners. She is committed to breaking down the complexities of everything finance.
Reviewed By
Amit Prakash Singh
Amit Prakash Singh
Co-Founder, Square Yards & Chief Business Officer, Urban Money
Amit Prakash Singh is the Chief Business Officer at Urban Money. With over nine years of experience at Square Capital, he has played a crucial role in establishing it as one of India's premier loan advisory services. Amit's deep financial insights and extensive knowledge have driven significant business growth and strategic advancements. He has successfully built and managed large sales teams, optimised costs, and created leaders within the industry. Amit's financial expertise and strategic vision are key to the ongoing success and expansion of Square Yards and Urban Money.

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.
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.

Personal Loan By Banks

Urban Money