Union Bank Personal Loans Review
Whenever and whatever you may need extra money for, personal loans taken from Union Bank will be the most acceptable option to consider.
The bank provides the quickest and more than flexible financial support to all its customers.
Read further to find more about features, benefits, eligibility and documents required, when considering an alternative of applying for the loan given by Union Bank.
What You Need to Get Qualified for This Loan Type
Basically, such factors as the amount of money borrowed and interest rates as well as repayment schedule will be determined by your credit rating. The better it is, the more favorable terms (higher amount of money, lower rates, flexible schedule of repayment) you can get.
However, if your credit rating may leave much to be desired, try to raise it as soon as possible. This certainly won’t be out of place; after all, it’s all about negotiating the most favorable terms.
Eligibility and Document Requirements
To identify you as a qualified borrower for one of personal loans Union Bank will require the following:
- You should be aged between 18 and 55.
- You should permanently work for the companies recognized by the bank or, if you’re self-employed, your minimum monthly income should comply with the limit established by the bank.
- You should be employed for two years minimum.
- Your minimum gross fixed income should also comply with the set limit.
Applying for a personal loan you’ll have to submit a number of the following documents: copy of your national identity card, filled out personal loan application form, recent salary slip, and the letter from your employer confirming your current employment and income.
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Additionally, you may be asked to submit such documents as a letter of salary, latest utility bill or last three months’ account statement (usually asked if you’re self-employed).
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Benefits of Personal Loans Given (Union Bank Personal Loans)
Look through major benefits of personal loans given by Union Bank:
- Your max loan amount will be based not only on your credit rating but your income as well.
- The bank does not require personal guarantors. Additionally, you may apply jointly with your spouse.
- Loan procession will take only five working days.
- The lowest in the field interest rates are guaranteed.
- The bank can provide you with repayment period as long as five years.
In general, Union bank offers the most competitive payment terms and rates available in the market.
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Low to moderate-income borrowers can successfully apply for a personal loan from this bank.
Highly personalized service together with the most agreeable terms make Union Bank the primary lending source to turn to whenever a personal loan is urgently needed.