UnionBank Quick Loan Review

What is a UnionBank Quick Loan?

This is a digital loan feature of UnionBank that is offered to existing customers and has been pre-qualified. Once customers receive an invite code from UnionBank through SMS or email notification, they can be approved for the predetermined loan amount within only 60 seconds.  

Who are Eligible to Borrow?

Only qualified UnionBank current account holders who have received a unique invite code via SMS or email notification are eligible to apply for UnionBank quick loans. 

Others who did not get an invitation due to several conditions should not be concerned since the bank conducts regular checks. They may still be qualified for the next run should there be any changes in findings. 

Loan Terms and Other Key Features 

Loan: ₱1,000 to ₱1,000,000 (maximum loan amount depends on the credit score)

Interest Rates: A minimum of 0.83 percent per month

Loan Terms: 1 to 12 months

Approval time: 24 hours 

Processing Fee:

Loan Repayment:

Borrowers will have different payment options:

• Through UnionBank (No Service Fee)
  • Auto-Debit Arrangement
  • Over-the-counter
  • UnionBank Online or Website

• Other banks or wallets through UPay
  • Instapay – ₱15
  • Pesonet – ₱25
  • GrabPay (coming soon)
  • GCash (coming soon)

• UnionBank Payment Partners (₱15 Service Fee)
  • Over-the-counter through ECPay 
  • GCash or Maya

How to Apply for a Quick Loan

There are two (2) ways available to apply for a UnionBank quick loan. Pre-qualified payroll customers with unique invite codes may opt to use any of the following: 

1. Login via Quick Loans Website 

Along with the received unique Invite Code is the link where the borrower can input the following correct login credentials: 

• Invite code
• Last 5 Digits of ATM payroll OR 12-digit payroll account number
• Email Address
• Mobile Number 

2. Login via UB Online App 

Aside from the website, there is a UnionBank online app that can be downloaded from Google Playstore, Huawei AppGallery, or the Apple App Store.

Pre-qualified customers can use their phone or web browser to access the UB Online App. Simply click the button with the words “You qualify for a loan” that will appear on the main dashboard for further instructions. 

Conclusion 

For meeting financial responsibilities, UnionBank quick loans may be the best alternative as it allows getting and paying the loan online which is the most convenient in today’s circumstances. Thanks to this offer, Filipinos can now easily fund their short-term needs with less hassle and at affordable rates.