Union bank salary advance loan and Payday Loan

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

Last Updated on November 15, 2022 by admin

To apply for Union bank salary advance loan and Payday Loan– you must have a salary account with Union Bank either Payroll Loans or Non-Payroll Loans to enable you offset your emergency needs while waiting for the next salary.

Customers can access up to 50% of their salary as an overdraft for a 12-month period at competitive rates.The digital loan is designed to save customers the stress while providing the financial support they need.

Both Union bank salary advance and payday loan doesn’t require any security/collateral deposit but your salary account must be domicile with the bank as requirements for accessing urgent loan.

This article will provide solution on how to  get quick credit from union bank to solve  urgent needs, as the bank  unveiled a wide range of loans to make borrower vision a reality. From salary earners to entrepreneurs and pensioners.

To improve your chances of getting a loan try and carry out more transactions by increasing your deposits and using alternative channels (ATM, USSD, UnionMobile App, UnionOnline etc.) and ensure you are meeting your loan repayment agreements with other financial institutions (if you have other loans)

Please note: Your monthly repayment cannot exceed 33% of your salary and you may need letter of introduction/undertaking from your employer

Features of Payday loan

1. Minimum monthly salary – N15,000
2. Maximum loan amount-N100,000
3. Loan tenor – 30 days
4. Salary domiciliation – 3 months
5. Loan limit – 50% of salary

Who is eligible for a loan?

1. A salary earner receiving a minimum of N15,000 monthly
2. A pensioner receiving a minimum pension of N10,000 monthly
3. A business owner

Features for Union bank salary advance

1. Minimum monthly salary – N15,000
2. Maximum loan amount – 50% of monthly salary.
3. Maximum loan tenor – 12 months
4. Salary must domicile with union bank for at least – 1 month

How to access the payday loan and Salary advance

1. You can apply for Union bank payday loan either via ussd code by dialing *826*41# and follow the on screen message to complete the application process.

2. You can also apply for Union bank payday loan using UnionMobile App, All you need is to register for it if you haven’t register,then login and apply

3. customers can also make use of Union Bank ATMs to apply

4. You can also apply online by visiting the union bank portal through this link: https://www.unionbankng.com/forms/loan-application/
i. Fill your name

ii. input your Mobile Number
iii. If you have a union bank account fill your account number but if you don’t have an account with then then apply for account opening by dialing 826# and follow the prompt message to open account.

iv. Enter your Bank Verification Number (BVN)
v. Residential Address
vi. Personal EMail Address
vii. Marital Status

viii. Gender and Employment status
Once done submit your application for wait for loan approval

For all other customers

Call us union bank on 012716816 or send an email to: customerservice@unionbankng.com you can as well visit any UBN Branch

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