Union bank took their start form America with full services and 398 branches in 1864. It was known as Union Bank of California in 1996 but on later stages they changed to union bank in 2008. Their main HQ is in New York. They have total assets of $106.7 billion with 10000 employees.
Union Bank Personal Loans Review
When there is a need of extra money like personal loan, there should be only one destination which you should consider that is union bank. Union bank offers the best and appropriate options which everyone considers. The bank gives the fast cash with adaptable finance support to each and every customer.
How to Get Accepted for This Type of Loan
In Union Bank all the terms like interest rate, cash to be borrowed and the repayment plan all are determined on the basis of credit rating/score. The better credit rating is the more favorable term is offered. In this case more the amount of cash lower will be the rates and more flexible will be the repayment plan you will get.
If your credit rating is low then try hard to raise it as fast as you can otherwise you won’t be able to get the best deals. It’s all about compensating to get best deal.
Eligibility and Document Requirements
- To get accepted by the Union Bank you have to fulfill the following requirements:
- Age limit should be between 18 to 55
- You have to be working for the companies which are recognized by the bank or if you are self-employed than the minimum amount of earnings should match with the limit provided by the bank.
- Minimum employed time is of two years.
- Gross fixed earning should be equal to the limit which the bank has set it to be minimum.
Additional to this to apply for the personal loans following are the documents which have to be submitted: copy of ID card, personal loan filled application form, last/present month salary slip and letter from the company which proves that you are employed there.
If you are self-employed then the following documents are to be submitted: salary letters present/last month utility bills, three months account statement.
Benefits of Personal Loans Given by Union Bank Personal Loans
- Following are the major advantages given by Union Bank.
- Credit rating and income will decide the max loan which will be given to you by the bank.
- You can apply without any guarantors. Also you can apply as joint loan with your husband and wife.
- Loan will be transferred to your account in five working days.
- Bank guarantees the lowest interest rate in field.
- Repayment plan exceeds maximum to five years by which the amount has to be replayed.
Generally Union Bank has the most combative payments terms and interest rates which can be offered in the market. People with low but average income can also apply for personal loan in union bank. But their application procedure is more detailed and takes longer in approval.