Union Bank Personal Loan Eligibility – Check Criteria & Requirements

Key Takeaways
 

• Union Bank personal loan eligibility for salaried applicants generally requires a minimum monthly gross salary of ₹15,000 (₹20,000 in metro cities).
   
• You can calculate your probable loan amount and EMI using Union Bank’s personal loan EMI calculator (via their personal loan page).
   
• Required documents for Union Bank personal loan eligibility require several important documents. They include KYC (ID/address proof), 3 months’ salary slips, 2 years of ITR/Form 16, and 12 months of bank statements.
   

Bonus Tip: You can improve your Union Bank personal loan eligibility criteria by maintaining a healthy record of repayment history. It improves your credit score that helps you get a better interest rate on Union Bank personal loans.

Meet Tara, a flight attendant for an international airline, but based out of Delhi. She dreams of upgrading her iPhone to the latest model so she can shoot better in-flight selfies at 35,000 feet. Instead of saving up slowly, she checks out the Union Bank personal loan eligibility PDF to fund this purchase.

Tara has a Union Bank salary account. She goes to their Personal Loan section, and explores the Union Bank Personal loan eligibility for salary account. She verifies her monthly income, age, and work history. She runs a quick check using the Union Bank personal loan eligibility calculator. All of this while sipping masala chai at the Delhi airport lounge.

Picture applying for a Union Bank personal loan like pre-boarding for a flight: first, you run a “check-in” (eligibility check), then you board (apply), and once cleared, the ticket (loan) is issued. Then you pay for your trip in monthly “EMI landings.”

A Union Bank personal loan is like a duty-free shopping voucher at 36,000 feet: unsecured, quick, and easy. Union Bank trusts your income like the airline trusts your honesty about extra luggage. You use the money (buy the iPhone), and repay via EMIs, just like paying for in-flight meals later on.

Tara said, ”I am 27 and I draw a monthly gross salary of ₹70,000 from my airline job. I have had this job for 3 years, and my salary has been credited to my savings account. I checked out the Union Bank personal loan eligibility PDF (via their personal loan page). I could get up to ₹ 10 lakh, so I applied for it.”

Union Bank Personal Loan Eligibility Criteria

Here’s a table summarizing Union Bank personal loan eligibility, especially for salaried applicants, along with how Tara aligns:
 

After checking the Union Bank personal loan eligibility, Tara lets out a comfortable sigh, knowing hse checks out all the boxes. 

Required Documents for Union Bank Personal Loan Eligibility Verification

To check Union Bank personal loan eligibility, Tara will need to submit:

• Identity Proof: Aadhaar, PAN card, Passport, or Voter ID. 
   
• Address Proof: Driving Licence, Aadhaar, or Passport.
   
• Income Proof: Last 3 months’ salary slips and ITR / Form 16 of the last 2 years.
   
• Bank Statements: 12 months of bank statements showing salary credit.
   
• Photos: Recent passport-size photographs.
   

Conclusion

Tara, the Delhi-based flight attendant, now has a clear picture of her Union Bank personal loan eligibility. She ran the numbers, checked her salary, reviewed her documents, and estimated how much she can borrow, all without deboarding her financial plan.

If she ticks the age, income, and documentation boxes, she can get her loan approved and use the funds to buy that shiny new iPhone. It’s proof that even at 35,000 feet, dreams (and phone upgrades) can take off, as long as you check your eligibility before applying.
 

FAQs About Union Bank Personal Loan Eligibility
 

What’s the minimum salary to apply for a Union Bank personal loan under the salaried scheme?
Union Bank requires a gross monthly salary of ₹15,000, or ₹20,000 in metro cities, for its salaried personal loan.
 

Do I need a Union Bank salary account to apply for a personal loan?
For the non-tie-up salaried scheme, yes, you should maintain a salary account with Union Bank.
 

What age range does Union Bank consider for its personal loan eligibility?
For salaried individuals, the minimum age is 18 years, and the loan must be repaid before retirement or the maximum age limit specified.
 

Which documents do I need to prove my eligibility for a Union Bank personal loan?
You’ll need identity proof, address proof, 3 months’ salary slips, 2 years’ ITR/Form 16, 12 months’ bank statements, and photos.
 

How much can I borrow from Union Bank with their personal loan?
Union Bank offers personal loans up to ₹50 lakhs, depending on your eligibility and repayment capacity.
 

Can I check my Union Bank personal loan eligibility and EMI online?
Yes, Union Bank provides a personal loan EMI calculator on its website to estimate your loan amount and monthly instalments.
 

Do I need to be a long-term customer of Union Bank to apply for this loan?
For a non-tie-up salaried loan scheme, you should have been a Union Bank customer for at least 6 months before applying. 
 

If I apply for a Union Bank personal loan, will they call me or visit my house for verification?
One user said they were followed up by phone (no home visit) for their UnionBank (PH) personal loan.
 

Is it true that Union Bank moved my personal loan to some ‘Union Digital’ thing, and I can’t see it in the app anymore?
According to another user, their mother’s Union personal loan was transferred to “Union Digital,” and the old app no longer showed it.
 

Can a government employee’s wife in Telangana get a personal loan from Union Bank of India?
Yes, Union Bank of India allows spouses of government employees to apply for a personal loan, subject to meeting eligibility criteria like income proof and credit profile.
 

Why do many entrepreneurs find it hard to get a government-linked startup loan through Union Bank of India even under official schemes?
Because banks require strong business plans, financials, collateral/guarantees, and credit history to approve startup loans. Aspiring founders, especially outside big cities, should focus on solid documentation, local branch support, and alternative funding sources like startup incubators or government credit guarantee schemes to improve approval chances.
 

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About the Author

LoansJagat Team

‘Simplify Finance for Everyone.’ This is the common goal of our team, as we try to explain any topic with relatable examples. From personal to business finance, managing EMIs to becoming debt-free, we do extensive research on each and every parameter, so you don’t have to. Scroll up and have a look at what 15+ years of experience in the BFSI sector looks like.