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Union Bank Loan 2021, Check Loan Details and Requirements

Filed in Articles by on April 19, 2021

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How do I get a Union bank loan? Union Bank offers a wide range of loans to make your vision a reality. From salary earners to entrepreneurs to pensioners, Union Bank got a loan for you. Apply today here. In this article, we will guide you through how to obtain and apply for a Union Bank loan.

Union Bank Loan 2021, Check Loan Details and Requirements

About Union Bank

Union Bank is Nigeria’s most reliable and trusted banking partner. We make lives better by delivering the simplest, smartest solutions and guaranteeing the best experience every time.

Union Bank of Nigeria (“UBN”) was established in 1917 and is one of Nigeria’s long-standing and most respected financial institutions, offering a portfolio of banking services to individuals, SMEs, commercial and corporate clients.

With a robust geographical network comprising more than 284 service centers and over 934+ ATMs spread across Nigeria, we have remained committed to helping individuals, families, and businesses grow for nearly a century.

We are committed to being widely recognized as Nigeria’s most reliable and trusted banking partner. Our ambition is hinged on successfully delivering against six strategic pillars including the quality of our customer experience, client base, talent, banking platform, professional standards, and earnings.

Aggressive execution of our strategy is underway, leveraging a robust transformation team largely focused on people, processes, and technology.

Vision

Union Bank is Nigeria’s most reliable and trusted banking partner.

Mission

Union Bank makes lives better by delivering the simplest, smartest solutions and guaranteeing the best experience every time.

Core Values

Finding simpler and smarter ways to do things better every time. We are a forward-thinking bank.

Union Bank Loan

Union Bank of Nigeria offers it’s customers a wide range of loans, this is to help enable all your dreams to come to reality. Loans are available from individuals that ar salary earners to entrepreneurs to pensioners. There is a loan available for you.

Union Bank offers three major kinds of loans, namely;

  • Unionplus
  • Unionflexi
  • Payadvance

Unionplus

The Unionplus loan is designed for salaried customers. Customers can access up to 15 million Naira and can pay back for up to 60 months.

Loan Details

  • Repayment: 12-60 months
  • Annual income range: N216,000 – N30,000,000
  • Loans available between N50,000 and N15,000,000

Required Documents

  • Completed Application Form
  • Letter of Undertaking from employer

APPLY NOW   LOAN APPLICATION GUIDE

Unionflexi

The Unionflexi loan is designed for salaried customers with an annual salary of up to 30 million Naira. Customers can access up to 50 million Naira and can payback for up to 60 months.

Loan Details

  • Repayment: 12-60 months
  • Annual income range: Minimum N30,000,000
  • Loans available between N5,000,000 and N50,000,000

Required Documents

  • Completed Application Form
  • Letter of Undertaking from employer

APPLY NOW   LOAN APPLICATION GUIDE

Payadvance

The Payadvance loan is designed for salaried customers. Customers can access up to 50% of their monthly salary and can payback for up to 12 months.

Loan Details

  • Repayment: 12 months
  • Annual income range: Minimum N300, 000
  • Loans available between N25, 000 and 50% of monthly salary

Required Documents

  • Completed Application Form
  • Letter of Undertaking from employer
  • Proforma Invoice

APPLY NOW   LOAN APPLICATION GUIDE

Frequently Asked Questions

How can I improve my chances of getting a loan?

  • Ensure you are meeting your loan repayment agreements with other financial institutions (if you have other loans)
  • Carry out more transactions with us. You can do this by increasing your deposits and using our alternative channels (ATM, USSD, UnionMobile App, UnionOnline, etc.)

Who is eligible for a loan?

  • A salary receiving a minimum salary of N18,000 monthly
  • A pensioner receiving a minimum pension of N10,000 monthly
  • A business owner

What are the benefits of taking a new loan after the existing one ends?

  • You become eligible for a 20% discount on interest rates and a 3 months’ tenure extension

What benefits do I gain if I repay my loan without defaulting?

  • You are eligible for up to 3 months’ installment refund when you repay on time

Can I use my investment with UBN (fixed deposit or target savings product) to access quick cash?

  • Yes, you can. Get up to 80% of your investment as a cash-backed loan and enjoy flexible repayment options

Visit Homepage – For More Information

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