When it comes to the banking industry in Nigeria, Union Bank stands as a trusted household name. With a commitment to advancing your financial progress, they offer an array of loans designed to turn your plans and visions into reality. The process is streamlined and tailored to meet the needs of various individuals, including salary earners, pensioners, and entrepreneurs. Let’s delve into the comprehensive details of their loan services.
Union Bank Loan Services: Empowering Your Financial Journey
Union Bank has categorized its loan offerings into three major categories, ensuring there’s something for everyone:
Payroll Loans:
If your salary account is domiciled with Union Bank, you’re in for an extra treat. Not only can you secure the funds you need, but you’ll also receive a cash reward for prompt repayment, applicable to loans with a tenor of 2 to 5 years. The packages under payroll loans include:
- Personal Loan: Providing up to N15 million for your personal needs, with a maximum tenor of 5 years, exclusively available to employees with salary accounts at Union Bank.
- Salary Advance: Offering up to 50% of your salary upfront, with a maximum tenor of 12 months. To qualify, your salary account must have been domiciled with Union Bank for at least one month.
- Back to School Finance: Ensuring every parent can afford to send their child to school, this option offers up to N15 million in tuition loans, with a maximum tenor of 12 months.
- Senior Citizen Loan: Even in retirement, Union Bank has you covered. You can access up to N10 million to fund your personal projects, repayable over 5 years.
Union Flexi Loans:
This exclusive offering is available to individuals earning up to N30 million annually. If you qualify, you can secure up to N50 million, with a repayment period of 60 months.
Digital Loans:
In case you’re in need of quick cash, Union Bank provides digital loans to save you from the hassle of scrambling for money during tight spots. This payday loan allows you to access up to 50% of your salary, to be repaid within a month.
Key Features of Digital Loans:
- Maximum tenor of 30 days
- Minimum monthly salary of N15,000
- Maximum loan amount of N100,000
- Your salary account must have been domiciled for at least 3 months
- Loan limit of 50% of your total salary
You can conveniently access the digital loan through Union Bank ATMs, USSD dialing of 82641#, or the Union Bank mobile application.
Non-Payroll Loans:
For self-employed individuals and SME owners, Union Bank offers a range of services to meet your financial needs, including:
- Self-Employed Loans
- Self-Employed Revolving Overdraft
- Cash Backed Loans
How to Apply for a Union Bank Loan
Getting started is a breeze:
- Visit the official loan page at Union Bank Loans.
- Select your preferred loan and take note of the required details and documents.
- Click the “Apply for a Loan” button at the bottom of your chosen loan.
- Fill out the online form that follows and click submit.
In Conclusion:
Union Bank’s enduring presence in the industry and years of delivering exceptional customer service make it a standout player. Their loans are designed for ease, speed, and accessibility for all, catering to the needs of employees, SMEs, and tech-savvy customers alike. Unlock your financial potential with Union Bank today.