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Approval in as fast as 5 minutes
Loan amount up to ₱2 million without any collateral or guarantor
Flexible repayment terms of 1 to 5 years
|Min. Financing Amount||₱20,000|
|Max. Financing Amount||Up to ₱2,000,000|
|Min. Loan Tenure||1 year|
|Max. Loan Tenure||5 years|
|Interest Rate||ACR 26.9%|
|Approval Duration||5 minutes|
|One time set up|
|Disbursement & misc. fee||₱1,750 for each disbursement|
|Stamp Duty||₱1.50 for every P200 of the amount, which is subject to applicable laws and regulations|
|Age requirement||At least 21 to 65 years old|
|Employment eligibility||Filipino resident or a local resident foreigner with a valid Philippine billing address, must have a Tax Payer's Identification Number (TIN), must be a principal credit cardholder (at least 3 months. Supplementary and debit cards are not included)|
|Min. salary requirement||₱21,000 gross per month|
|Loan Term||Monthly Installment||Interest Rate (p.a)|
|60 months||₱3,047.56||ACR 26.9%|
|48 months||₱3,422.56||ACR 26.9%|
|36 months||₱4,077.16||ACR 26.9%|
|24 months||₱5,432.95||ACR 26.9%|
|12 months||₱9,596.86||ACR 26.9%|
For example, if you borrow ₱100,000 for 60 months, your monthly installment will be ₱3,047.56 with an annual contract rate (ACR) of 26.9%. You can use this table to plan your finances and ensure that you face no monetary challenges while paying your loan EMI each month.
A loan EMI or Equated Monthly Installment (EMI) is a fixed payment made by a borrower to a lender on a specified date of each month. EMIs are applied to both interest and principal each month so that over a specified time period, the loan is paid off in full. In other words, it is the amount of money you need to pay each month to repay your loan. The EMI amount is calculated based on the loan amount, interest rate, and loan tenure.
To apply for a UnionBank Personal Loan, you can apply online directly using the iMoney online application form. Once you have submitted your application, our friendly Customer Care agent will get in touch with you to assist with processing your application. Alternatively, you can also apply directly through UnionBank.
Here are some frequently asked questions about UNO Loan:
The maximum loan amount offered by Union Bank Personal Loan is ₱2 million without any collateral or guarantor requirement. You can borrow starting from ₱20,000 up to ₱2 million.
To be eligible for a Union Bank Personal Loan in the Philippines, you need to meet certain criteria. Here are the general eligibility requirements:
Meeting basic eligibility criteria doesn't guarantee loan approval from Union Bank. Other factors, like debt-to-income ratio, are considered. For the latest and detailed information on personal loan eligibility, contact Union Bank directly or visit their website.
The Union Bank Personal Loan interest rate ranges, considering factors like loan amount, tenure, and credit history. The annual contract rate is 26.9%, but the final rate is determined by the bank after assessing your eligibility. Once pre-approved, the bank contacts you with the final loan terms.
Union Bank offers flexible repayment terms from 12 to 60 months, catering to varied financial situations. Longer terms mean lower monthly payments but higher overall interest, while shorter terms require higher payments but lower interest.
After application, the bank assesses the final loan terms, providing details for the borrower's acceptance. It's crucial to thoroughly review all terms before committing.
Understanding potential fees for a Union Bank personal loan is crucial. For each disbursement, a ₱1,750 fee applies, along with Stamp Duty at ₱1.50 for every ₱200 of the loaned amount.
Be aware of additional charges like application and origination fees, late payment fees, and prepayment penalties, as outlined in the loan agreement.
For precise and current details, contact Union Bank directly or their authorized representative.
To apply for a Union Bank Personal Loan, you will typically need to provide the following documents:
It's important to note that these requirements may vary based on your location and the specific loan product you are applying for. You can check with Union Bank directly before finalizing the loan contract.
Yes, self-employed individuals can apply for a Union Bank Personal Loan. Union Bank offers personal loans to both salaried and self-employed individuals. However, the eligibility criteria and documentation requirements may vary for self-employed applicants. For a clearer understanding, it is recommended to contact Union Bank directly regarding the specific requirements for self-employed individuals.
Union Bank provides flexible repayment options for personal loans, recognizing the uniqueness of each individual's financial situation. Whether you prefer monthly installments, bi-weekly payments, or customized schedules, there are diverse plans to meet your needs.
For personalized repayment terms, it's advisable to contact the bank directly to explore suitable options.
The minimum monthly gross income needed for eligibility for a Union Bank Personal Loan is ₱21,000. However, this requirement may vary based on factors like loan amount and employment status.
Keep in mind that income criteria can differ for employees and self-employed individuals.
Additionally, applicants need to be existing credit card holders for at least 3 months.
Union Bank's Personal Loans offer versatile fund utilization, catering to various needs like home renovations, debt consolidation, medical bills, education, weddings, travel, and more. However, for business financing, exploring dedicated business loan options is advisable, providing greater flexibility and higher amounts tailored for business funding.
For a comprehensive overview of available loan options, visit the bank's website or contact them directly.
Choosing the right personal loan is crucial, considering your financial needs, credit score, and loan terms. UnionBank Personal Loan stands out, offering a high loan amount without collateral or a guarantor.
Enjoy flexible 1 to 5-year repayment terms, ensuring quick approval in just 5 minutes. Take the time to assess your options and decide if Union Bank Personal Loan aligns with your needs.
Apply online through iMoney for personalized assistance in choosing the right loan product for you.