Eligibility for Union Bank of India Personal Loan
To avail Union Bank personal loan, the following eligibility criteria needs to be considered:
For Union Personal- Salaried Eligibility (other than government employees)
Loans under this scheme are divided into two categories.The eligibility criteria for both the criteria are mentioned here.

Tie-up:
1)Permanent employees of reputed private organization/institutes in India
2)May or may not be a salary account holder
3)Minimum monthly gross salary of Rs 15,000 (Rs 20,000 for those in Delhi, Mumbai, Bangalore, Kolkata, Pune, Chennai, Ahmedabad)

Non Tie-up:
1)Confirmed employees of reputed private institutes/organization in India
2(Should be a bank customer for at least 6 months before applying for the loan
3)Should maintain salary account with the bank
4)Should be earning at least a gross monthly salary of Rs 15,000 (Rs 20,000 for those residing in Ahmedabad, Bangalore, Chennai, Pune, Delhi, Kolkata, Mumbai)

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For Union Personal Loan – Non-salaried:

QUANTUM:-
Minimum Amount – No limit
Maximum quantum Scheme A (tie-up): Rs.15.00 Lakh.
Maximum quantum Scheme B (tie-up): New/first time borrower - Rs.5.00 lakh Existing borrower with a satisfactory repayment record of 2 years - Rs.15.00 lakh
REPAYMENT TENURE:-
The maximum repayment period will be Five years (60 months) subject to the condition that repayment should be co-terminus with retirement
MORATORIUM:-
No moratorium period is allowed. The repayment shall commence from succeeding month of first disbursement of loan.
SECURITY:-
No security, subject to the condition that Spouse of the applicant must join as co-applicant.
GUARANTEE:-
In case borrower is single/widow/divorcee, then personal guarantee of one of the co-employee with sufficient means.

Minimum entry age –
18 years for salaried individuals
25 years for non-salaried individuals
Maximum exit age – Retirement age for salaried individuals and 65 years of for non-salaried individuals

Documents Required for Union Bank of India Personal Loan:
The following documents are needed to apply for a personal loan with Union Bank
Complete application form and credit information
KYC documents (applicant and co-applicant both)
ID Proof (Passport/PAN/Aadhaar/Voter ID)
Address Proof (Passport/Aadhaar/Driving License)
Two latest passport size photographs
Business/Office address proof
Bank statement for past 12 months
For salaried individuals – last 3 months salary slips, last 2 years ITR/Form 16

Union Bank of India Personal Loan Processing fees and Charges:

Processing Charges of Union Personal:
Union Personal non-salaried/salaried/government employees with or without tie-up- 0.50% of the loan amount subjected to a minimum of Rs 500 to a maximum of Rs 7500
SRLG- NIL

Union Bank Personal Loan Interest Rates
Union Personal Scheme
Union Bank of India Personal Loan interest rate starts at 8.90% p.a. but can be higher depending on the type of applicant.

Schemes CIBIL score Interest Rate
(p.a.)
Union Personal – Under Tie-up 700 & above 13.15%
below 700 13.25%
Union Personal – Under Non Tie-up 700 & above 14.15%
below 700 14.25%

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