Union Bank loan: union bank personal loan – union bank quick loan ussd code – Thanks to Union Bank’s accommodative policies, customers interested in obtaining a loan from Bank have various options. Even retirees can qualify for a loan from the BankBank, as well as wage earners, business owners of small businesses, and entrepreneurs.
Personal loans, business loans, loans for small and medium-sized businesses (SMEs), student loans, and other types of loans are among the many types of loan packages you can obtain from Union Bank.
Qualifications to Receive a Loan from Union Bank
The following is a list of requirements that must be satisfied to be eligible for a loan from Union Bank:
- A minimum salary of N18,000 per month, payable to salary earners.
- A monthly pension of at least N10,000 for retirees and pensioners.
- Owner of a business
- A Customer of the Union Bank
The loan packages offered by Union Bank are as follows:
Here are some criteria required when you request a loan from Union bank. These criteria are based on the loan bundle that you choose. Examples of these requirements have a bank account at Union Bank, a completed loan application form, a letter of commitment from an employer, and other similar items.
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The loan from the Union Bank
1. Personal Loan/Unionplus Program
Union plus loan is also known as a personal loan offered by Union Bank. This loan package allows individuals with an annual salary of at least N18,000 to qualify for this loan.
The incredible advantages of this package include the fact that it makes it possible for an individual to obtain a loan of any amount between fifty thousand and fifteen million nairas (N50,000 to 15,000,000) without having to put up any collateral, having a maximum repayment duration of between twelve and sixty months, and having a reasonable interest rate with a salary domiciliation of one month.
Prerequisites for a Personal Loan from Union Bank
- Completed the loan application form for Union Bank.
- Guarantee in the form of a letter from the employer
2. A Loan for Businesses from the Union Bank
The business loan offered by Union Bank is also known as the unionflexi loan. The minimum monthly salary required to apply for this package is N2.5 million. Business owners are eligible to apply.
A company proprietor is eligible to receive, as part of this loan package, an unsecured loan with a maximum repayment period ranging from 12 to 60 months and an affordable interest rate. The loan amount varies from 5 million to 50 million nairas.
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Conditions for Obtaining a Loan from Union Bank for Your Business
- Form for obtaining a loan from Union Bank that has been finalized
- Guarantee from the employer in the form of a letter.
3. A Payday or Pay Advance Loan from Union Bank
A payday loan from Union Bank can also be referred to as a Pay advance loan. This loan package from Union bank is intended for salaried individuals who make at least N20,000 per month and are in immediate need of cash to run wanted or emergency business problems. The minimum monthly salary required to qualify for this loan package is N20,000.
The maximum payback period for the loan is 12 months, and the salary domiciliation period is one month. Business owners can borrow anywhere from N25,000 to 50 percent of their monthly salary in advance. The loan has a maximum payback duration of 12 months.
Prerequisites for a Payday Loan from Union Bank
Formalized application for the loan in its final form
Invoice in draught form
Guarantee from the employer in the form of a letter.
4. SME Loan from Union Bank
The Union Bank SME loan structure is designed for small and medium-sized businesses that are short on capital and want to grow their operations to a new level but do not have enough money.
They can request a loan of up to ten million dollars with no collateral being required and a remarkable interest rate. The loan is repaid at your convenience, typically within two to twelve months.
Once an application has been submitted, the Union Bank will review each request using its lending guidelines. We will evaluate your eligibility for the loan and the reason you need it.
If your loan application is approved, you will receive an acceptance letter. This letter will contain several terms and conditions you must fulfill to spend the funds.
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On a list of essential documents that are frequently requested are the following:
- Form of application that has been finished
- Profile of the company
- Prepare a business plan.
- Budget for the flow of cash
- Bank statements (12 months)
- financial statements that have been audited
- The Company’s Certificate of Incorporation
- Reliable identification procedures (driving license, passport, voters card)
- Documentation to verify your residence.
Note that the specific documentation required is impacted by the type of credit facility sought.
4. The Student Loan from Union Bank
The Union Bank Student Loan was created to assist parents and guardians in obtaining short-term financing to cover existing payments for their children or wards, such as tuition fees, school uniforms, stationery, and other similar expenses, in preparation for the next term’s fee payment.
For this loan package, they have the option of requesting a loan with a maximum repayment period of ninety days, an interest rate that is reasonable for their situation, and a loan amount ranging from two hundred thousand to five million nairas ( this loan is expected to be due within 5 months of resumption).
The following types of documentation are required for a student loan from Union Bank:
- A copy of the registration with the CAC
- The approval of the state’s department of education
- Submitted a post-dated check from another financial institution, covering 130% of the total loan amount.
Customers of Union Bank have three easy options for requesting loans and registering for them at any of the Bank’s branches relevant to their needs. In addition to this, you can seek online assistance by referring to the “Request for an Agent” service. In addition, with the help of a USSD code, it is possible to apply for loans using your mobile device.
Instructions on How to Apply for a Loan through the Website of Union Bank
- Quickly follow these steps to submit an application for a loan using this approach:
- Sign in to the Bank’sBank’s website at unionbankng.com using your login information.
- To apply for a loan, scroll down until you see the option and click the “learn more” button.
- Check out each of the different loan packages. To apply your selection, click the Apply button on the bundle.
- Complete the Union Bank loan application form with all the required fields.
- When you choose the amount of your loan, the interest rate will appear.
- If your application is approved, you will send your money to you within one day.
- Prompt payment is strongly encouraged within the specified time frame for making payments.
How to Apply for a Loan through union bank quick loan ussd code
It is reasonable to assume that this method provides the most favorable, least difficult, and quickest results when obtaining a loan from Union Bank. You can apply for a loan from the convenience of your own home, even if you do not have a data connection; the application process consists of the following straightforward steps:
The USSD code for Union Bank loan inquiries is 82641#. Which can be quickly used to execute all of your Union Bank loan packages efficiently without using a data connection or by stopping by any bank branch, the former of which is not required. Who will decide on a request for a loan within the next day?
How to Make an Application for a Loan from Union Bank at Any Union Bank Branch
Using this approach to obtain a loan is a simple process. You only need to go to any Union Bank branch close to you, get a loan application form, and then fill it out. The money from your loan will be disbursed within the next day.
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The Annual Percentage Rate on Loans from Union Bank
Although Union Bank does not offer loans with a fixed interest rate, you and the BankBank will negotiate and decide on the interest rate that will apply to your loan when you apply for it.
The Borrowing Caps of Union Bank
The loan term offered by Union Bank is 60 months long, and the maximum amount you can borrow is 50 million dollars at an affordable interest rate.
Request for a loan from Union Bank
Customers who wish to apply for loans must fill out an application form. Important information about your current financial situation should be provided when applying for a loan. It is essential to evaluate whether the lender will approve the request for funds or credit using the loan application before making a decision.
How to Make Your Loan Payments to Union Bank
You are obligated to repay the loan by the specified date, which may also be referred to as the due date. Every loan repayment is processed through the various loan channels listed on the form you submit when you apply for a loan.