Union Bank of India Personal Loan

Last Updated : March 10, 2025, 4:56 p.m.

A personal loan is a fund that helps you meet all your financial needs. You can use the loan to travel worldwide or plan a big fat Indian wedding. To get a personal loan, you can contact Union Bank of India. It is one of the largest government-owned banks in India. The bank has recently consolidated with Corporation Bank and Andhra Bank, which came into effect on 1st April 2020. With this, it has become the 5th largest public sector bank in India.

Union Bank of India Personal Loan Interest Rate 2025

Go through the table carefully and know the details of the Union Bank of India Personal Loan -

Union Bank of India Personal Loan Scheme with Interest Rates Based On CIBIL Score

Union Personal Scheme

Union Ashiyana Personal Loan Scheme

Union Professional Personal Loan Scheme

Women Professional Personal Loan Scheme – Up to Rs 50 lakh

Types of Union Bank of India Personal Loan

Below are the types of personal loans offered by Union Bank of India -

1. Union Personal Loan For Salaried Individuals (Excluding Government Employees)
2. Union Personal Loan For Non-salaried
3. Union Personal Exclusive Retail Lending Scheme for Government Employees
4. Union Professional Personal Loan Scheme
5. Union Women Professional Personal Loan Scheme
6. Union Ashiyana Personal Loan Scheme
7. Union Ashiyana Overdraft Scheme.

Union Personal Loan For Salaried Individuals (Excluding Government Employees)

Purpose: Union Bank offers Personal Loans for salaried employees to meet expenses like weddings, travel, and purchases.

Loan Amount:

• With employer tie-up: Up to Rs.15 lakh
• Without tie-up:
  • New borrower: Up to Rs.5 lakh
  • Existing borrower: Up to Rs.15 lakh

Union Personal Loan For Salaried

Purpose: Personal loan for non-salaried individuals with a regular income to cover expenses like marriage, travel, and purchases.

Loan Amount:

• Existing borrower: Up to Rs.15 lakh
• New borrower: Up to Rs.5 lakh

Tenure: Up to 5 years (or till retirement)

Union Personal Exclusive Retail Lending Scheme for Government Employees

Purpose: Union Bank’s Special Retail Lending Scheme for Government Employees covers expenses like marriage, travel, and purchases. It also allows balance transfers from other banks/NBFCs at lower rates.

Loan Amount: Up to Rs.15 lakh

Tenure: Up to 5 years (or till retirement)

Union Professional Personal Loan Scheme

Purpose: Union Professional Personal Loans for CAs, Doctors, Engineers, CS, and Cost Accountants to meet personal needs.

Loan Amount: Up to Rs.20 lakh

Tenure: Up to 5 years (Till retirement for salaried, 65 years for non-salaried)

Union Women Professional Personal Loan Scheme

Purpose: Personal loan for women professionals in healthcare, fashion, arts, legal, education, aviation, and more to cover personal expenses.

Loan Amount: Up to Rs.50 lakh

Tenure: Up to 7 years

Union Ashiyana Personal Loan Scheme

Purpose: Ashiyana Personal Loan for new and existing home loan borrowers to cover expenses like marriage, travel, purchases, or loan repayment. New borrowers can also fund property-related costs.

Loan Amount: Up to Rs.15 lakh

Tenure: Up to 7 years

Union Ashiyana Overdraft Scheme

Purpose: Union Ashiyana Overdraft for home loan borrowers to meet personal or business needs or repay high-cost loans.

Loan Amount: Up to Rs.20 lakh

Tenure: Linked to home loan tenure (Max: retirement age for salaried, 65 years for non-salaried).

Eligibility Requirement For Union Bank of India Personal Loan

Here are the eligibility criteria for the applicants availing of the Union Bank of India personal loan based on their job profile -

Documentation Required For Union Bank of India Personal Loan Application

• Application Process: Submit a filled application form and credit information.
• Required Documents:

KYC (Applicant & Co-applicant/Guarantor):

1. A. ID proof (PAN, Voter ID, Passport, Aadhaar, etc.)
2. Address proof (Driving License, Passport, Aadhaar, etc.)
3. Office/Business address proof
4. Two recent passport-size photos

For Salaried Individuals:

1. Income proof: Last 2 years' ITR/Form 16 & latest 3 months' salary slips.
2. Bank Statements: Last 12 months' statement required.

Union Bank of India Personal Loan EMI Calculator

After the loan approval, you can compute your EMI amount. EMI is the amount you pay to the bank against the borrowed loan. It is important to know the EMI amount so that you can make a repayment plan at your convenience and repayment capacity. To use the Wishfin Union Bank of India Personal Loan EMI Calculator tool, you just need to insert 3 details of your loan which are –

• Loan Amount
• Interest Rate
• Tenure

For example – You apply for a personal loan of Rs. 6 lakh for 5 years at a personal loan interest rate of 11.10% p.a. - 15.20% p.a. But you are not sure of the EMI amount you will pay to the lender. So, you can look at the table below to check the EMI amount and total interest payable towards the borrowed loan.

Fees & Other Charges on Union Bank of India Personal Loan

In this table, you can the processing fee and other charges that are applicable along with the interest rate on the personal loans by Union Bank of India -

Features and Benefits of Union Bank of India Personal Loan

• Low Interest Rates: Union Bank of India provides you with a personal loan at an effective rate of interest of 11.10% Up to 15.20% p.a. And it is comparatively lower compared to several other lenders.
• Simple Documentation: You need to submit your ID, income, and address proof to the bank along with your loan application form.
• Quick Processing & Disbursal: The loan is processed quickly and disbursed to your bank account in less than 48 hours of its approval.
• Affordable Financing: You can borrow an affordable amount from the bank and pay for the loan in equated monthly installments.
• Easy Monthly Repayment Options: To pay the EMI, you can use the ECS, PDCs, or standing instruction service.
• High Loan Amounts: You can borrow a maximum loan amount of Rs. 15 lakh from the bank.

Apply for Union Bank of India Personal Loan

To get the loan, visit the bank branch and follow the steps.

• Ask for a personal loan application form.
• Fill out the form and submit the same with 2 passport-size photographs and a few documents as mentioned above.
• After that, wait for the bank's approval.

You can also apply online by filling out and submitting the loan request form on the official website of Union Bank of India. The bank representative will get in touch with you and pick up the documents from you. After receiving the documents, the lender will check the details thoroughly and approve a loan only when verified successfully.

Summary!

A wide range of options has been provided by the Union Bank of India personal loan, designed to meet the diverse financial needs of salaried, and non-salaried individuals, government employees, professionals, and pensioners. With competitive interest rates, high loan amounts, minimal documentation, and quick disbursal, these loans provide a convenient financial solution for various expenses, such as weddings, travel, education, medical emergencies, and home improvements. The flexible repayment tenure and no prepayment penalty on legitimate sources further enhance borrower convenience. Whether you're looking for a standard personal loan or a specialized scheme, Union Bank of India ensures seamless access to funds with customer-friendly terms.