Union bank salary advance loan and Payday Loan

How to apply for Union bank Self employed and senior citizen loan and requirements

Last Updated on November 15, 2022 by admin

Are you self-employed or Business owner searching for how to get Self-employed Loans from union banks. this article will address all the requirements and application process to upscale your small scale business or run the daily activity of your organisation.

No matter what you need today, a union bank self-employed loan makes your life easier. Being self-employed means that you work for yourself, rather than working for an employer, which gives you more freedom to choose a way of working that’s right for you…..The short term loan provide borrower with a simple, low-cost way to borrow money for your business and with fixed monthly repayments it is easy to plan for the future.

Also read: Union Bank Payday loan and salary advance: How to apply and requirements

The union bank self employed personal loan solutions are made for every occasion, every life goal which come with competitive interest rates and value for money service

Are you a business owner or self-employed professional in need of financial support for your business or organisation? Get a loan to upscale your small scale business or run the daily activity of your organisation.

Features of union bank self employed loan

1. Minimum cash flow –
2. Net: N5,000
3. Average turnover: N15,000
4. Maximum loan amount – N1 million
5. Maximum loan tenor – 6 months
6. Length of relationship with UBN – 12 months

What is the eligibility for union bank self-employed Loan

The bank may require self-employed Personal Loan applicants to have a specified minimum income. Financial documents that show stability of income will help you easily get a self-employed Loan.

Union bank Senior Citizen Loan

As most senior citizens do not have a regular income, lenders generally do not offer personal loans to people above the age of 60 years. However, if you do earn a regular pension, you might be eligible for the loan Union bank Senior Citizen Loan.

This type of loan package is designed for retirees to finance personal projects and pay back over a period of 5 years.Borrower can get loan amount up to N10 million. The credit facility interest rate is attractive, Faster processing timelines and Minimal paperwork.
With this facility, pensioners can get a personal loan of up to N10 million.

Once the loan is taken, the EMI would be directly debited from their monthly pension for repaying the loan. You will be required to submit your pension documents to take this type of loan.

Features of Union bank Senior Citizen Loan

1. Minimum monthly pension – N10,000
2. Maximum loan amount – N10 million
3. Maximum loan tenor – 60 months
4. Pension domiciliation – 1 month

How to apply

To apply for senior citizen and self employed loan kindly visit any nearest union bank and request for your desire loan once you meet with credit criteria and requirements

Conclusion: Your income plays a crucial role in deciding whether or not you are eligible for a personal loan either as Senior Citizen or self employed

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