Union Bank of India Personal Loan [Interest Rate, Processing Fees, Tenure, Prepayment Charges 2022]

By | November 4, 2023

About Union Bank of India: Union Bank of India has taken many steps towards digital banking, participating in government schemes, providing NRI services and remittances. The bank provides banking, insurance and pension services to all families in many villages, following a branch and branchless banking model.

In addition to urban areas, the Bank also provides some services in non-SSA areas such as urban, urban, semi-urban and rural areas and also provides basic banking services through kiosks. I am.

Union Bank of India has come a long way since its inception in 1919 in Mumbai. From just four offices, three in Mumbai and one in Saurashtra, the company now has four international offices in Dubai, Antwerp, Hong Kong and Sydney.

It offers services in personal, corporate, and international loans. Under personal loans, you can get loans for agriculture, MSMEs, and retail. It also has rigorous schemes to foster financial inclusion in India, where many people still do not have access to finance due to a lot of socio-economic issues.

Headquarter: The headquarters of Union Bank is located in Union Bank Bhavan, 239, Vidhan Bhavan Marg, Nariman Point, Mumbai, Maharashtra, India.

Number of employees: According to the latest data available in FY 2021, the Union Bank of India has a maximum of 78,202 employees. 4,444 

Number of branches and ATMs: With around 9,500 branches, Union Bank of India becomes the 6th largest PSU bank in terms of branch network after its merger with Corporation Bank and Andhra Bank effective April 1, 2020 became.

With approximately 120 million customers and 77,000 employees, the bank has an extensive network of 9,300 domestic branches, 11,800 ATMs, and 8,216 business correspondent offices. I am.

Interest rate: 8.9% to 13.00% per annum

Loan amount: Up to Rs 1.5 million

Maximum term: 5 years

Fee: Up to 1% (up to Rs 7,500)

Upfront fee: Zero

Minimum monthly salary / Annual business income: Financing Depending on amount requirements

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