Union Bank Personal Loan for Wedding

Union Bank of India offers personal loans of up to 15 lakhs at an interest rate of 10.30% p.a. for a maximum tenure of 5 years. This loan covers personal expenses like weddings, travel, holidays, and purchasing consumer durables. It aims to provide financial assistance for various wedding-related costs such as venue booking, catering, decorations, attire, and more. With competitive interest rates, this loan option appeals to individuals who want to finance their wedding without depleting their savings or investments. The application process is simple, requiring minimal documentation, and funds are disbursed quickly to ensure timely arrangements can be made. 

With Urban Money, you can get a detailed loan summary that covers all the necessary details, such as interest rates, application procedures, eligibility requirements, and more.

Benefits of Union Bank Wedding Loan

Union Bank wedding loans work in the same way as any other personal loan. Here are a few of its standout benefits:

• Higher Loan Amounts
• Competitive Interest Rates
• Repayment Tenure up to 5 Years
• Quick Approval and Disbursement 
• No Security Required
• Minimum Income Requirement
• Minimum Documentation

Why Choose Union Bank for Wedding Loans?

To cater to the diverse needs of different individuals, Union Bank of India offers customised personal loans that are the perfect solution for fulfilling your short-term requirements. In this scenario, you can select the most suitable personal loan when you need funds for a wedding. By applying for a personal loan through Union Bank’s online platform, you can enjoy the benefits of instant approval. These personal loans come with low-interest rates and flexible repayment periods. Union Bank takes great pride in its commitment to customer satisfaction, as evidenced by its personalised assistance, efficient resolution of customer concerns, and seamless banking experience.

Personal Loan for Wedding Interest Rates & Charges

Union Bank wedding loan interest rates and other applicable charges you can expect are as follows:

Tips for Getting a Union Bank Wedding Loan

Here are some pointers to keep in mind if you are thinking of getting a wedding loan from Union Bank:

• Make sure your credit score is in good standing.
• Avoid unnecessary debt and analyse how much money you actually need to borrow.
• Understand the terms and conditions of the Union Bank wedding loan.
• Ensure all required documents are complete and accurate to facilitate a smooth application process.
• Start the loan application process before your wedding date to ensure you have the funds when needed and avoid last-minute stress.
• Do not hesitate to contact Urban Money or Union Bank’s customer service for any questions or clarification about the loan process.

Eligibility for Union Bank Loan for Wedding

Union Bank Wedding Loan Eligibility is based on the following:

• Age Requirement for Salaried: 18-60 years
• Age Requirement for Non-Salaried: 25-75 years
• The bank offers personal loans to individuals who work for companies with or without a tie-up with the bank. Salaried individuals need to have a salary account with the bank. In contrast, non-salaried applicants need a savings or current account with a minimum quarterly balance of INR 25,000 and no unfavourable features reported.
• Salaried applicants must have had a bank account for at least six months, and non-salaried applicants must have been the bank’s customer for at least 24 months.
• If the borrower is unmarried, has lost their spouse, or is divorced, they will need a co-applicant with enough financial resources to provide a personal guarantee.

Documents Required for Wedding Loan Application

Union Bank Wedding Loan’s Documentation process includes the following proofs:

• Completed loan application form
• Three passport-size photographs
• Identity Proof (Voters ID card/ Passport/ Driving licence/ IT PAN card)
• Residence Proof (Telephone Bills/ Electricity Bill)
• Income Proof: (Statement of Bank Account/ Pass Book for last six months/ Form 16/IT returns for the previous two financial years for salaried employees)
• IT returns for the three years for self-employed professionals.

What are the things to consider while taking a wedding loan?

When taking a loan for a wedding, it is important to prioritise affordability. It is necessary to borrow an amount that can be comfortably repaid, ensuring that at most 40% of one’s income goes towards loan instalments. When taking out a marriage loan, some basic things to remember include interest rates, monthly instalments, and any additional charges.

How to Apply for a Wedding Loan

Urban Money is the ultimate financial guide for individuals willing to get a loan to cover their wedding costs. Our team of professionals provides complete support throughout the process, from applying to submitting necessary paperwork, ensuring you secure the most favourable interest rates. To access our services, simply navigate to www.urbanmoney.com  or dial 1800 208 3344.