UnionBank Personal Loans

Types of UnionBank Personal Loans

Personal Loans with UnionBank include Auto Loans, Home Loans and Salary Loans. 

Auto Loan

This type of personal loan covers the expense you need in purchasing either a brand new or second-hand car. With only a 20% downpayment required to proceed with an auto loan application, this makes an excellent option for those who are looking at purchasing their first car. 

Loan Features

Loan Amounts: Php 500,000 up to Php 5,000,000

Loan Tenure: 12 to 60 months (depending on the terms of the agreement) 

Eligibility

• Aged between 21 to 65 years old (client must be 65 years old upon maturity of the loan). 
• Filipino citizens or Foreign nationals married to a Filipino or business entities like corporations and partnerships may also apply for an auto loan.

Requirements

• (2) Government-issued IDs with signature
• Proof of billing address
• If you are employed, you will need to submit the following:
  • COE -Certificate of employment with compensation
  • (3) months’ payslip
  • Latest Income Tax Return (ITR)* -ITR is not required for loan amounts below P3,000,000
• If you are self-employed, you will need to submit the following:
  • Business Registration papers (DTI, SEC if applicable)
  • ITR with audited financial statements (2 years)
  • Trade references

Home Loan

Turning your dream home into a reality can be a big challenge financially. With UnionBank Personal Loans, they offer Home Loans as a loan program with fast approval, simple online application, and affordable loan repayments. 

Loan Features

Loan Amounts: Php 500,000 up to 80% of the asset value

Loan Tenure: A minimum of one (1) and a maximum of twenty (20) years depending on the property value financed through the home loan

Expected Period of Disbursement: Within five (5) business days

Interest Rates: 8 up to 10% per year

Eligibility & Application Requirements

• Should be at least 21 years old and not older than 60 years old upon loan application.
• Should be a duly recognized Filipino citizen. 
• Must be employed or self-employed for at least two (2) years. 
• Must state the value of the property before UnionBank finances the asset.
• Property documents should be presented to the firm to prove the legality of the asset.
• If a foreign national, a Conditional Cash Transfer (CCT) cover must be provided.
• With good credit history.

Salary Loan

Salary Loan is one of UnionBank’s Personal Loans which gives an alternative avenue for employees who haven’t received their salary yet to pay their bills on time without worrying about due dates and paying for penalties. 

Loan Features

Loan Amount: Php 10,000 up to Php 250,000

Loan Tenure: A maximum of 12 months

Expected Period of Approval: Within 24 hours

Interest Rate: 0.83% per month

Eligibility & Application Requirements

• At least 20 years old and not older than 60 years of age upon the loan application.
• A duly recognized Filipino citizen.
• A consumer for the past six months.
• Employed with at least Php 15,000 of gross monthly income or self-employed with a minimum of Php 30,000 gross monthly income
• With good credit history 

How to Apply for UnionBank Personal Loans?

1. Visit the UnionBank website or download the mobile app on your Android or iOS device.
2. Download and fill out the loan application form completely and accurately.
3. Attach all the loan requirements in your application.
4. Submit the application form and wait for approval. 

Conclusion

UnionBank offers personal loans for borrowers who are in need of immediate financial assistance to meet their goals. UnionBank Personal Loans make it easier for individuals to quickly obtain cash and access exclusive financial benefits to implement the goals that they have.