Loans

Need quick cash to settle some of your personal needs? Get a loan of up to N15 million naira with your Union Bank salary account and pay back over 5 years.

Features:

• Minimum monthly salary – N15,000
• Maximum loan amount – N15 million
• Maximum loan tenor – 60 months
• Salary domiciliation – 1 month

Need quick cash before the next pay day? You can access up to 50% of your salary as an overdraft for a 12-month period at competitive rates.

Features:

• Minimum monthly salary – N15,000
• Maximum loan amount – 50% of monthly salary.
• Maximum loan tenor – 12 months
• Salary domiciliation – 1 month

Schools are back in session. Let’s help you tick one thing off your list. Get a back-to-school loan to pay for your children’s or wards’ tuition instantly.

Features:

• Maximum loan amount – N15 million
• Salary domiciliation – 1 month
• Tenor –
  • 3 months for termly fee payment
  • 12 months for session fee payment

Are you a retiree? Sit back and relax while your pension works for you! Get a loan of up to N10 million to finance that personal project you’ve been dreaming of and pay back over a period of 5 years.

Features:

• Minimum monthly pension – N10,000
• Maximum loan amount – N10 million
• Maximum loan tenor – 60 months
• Pension domiciliation – 1 month

Do you earn at least N30 million per annum? With our UnionFlexi loan you can access up to N50 million to meet your financial needs.

What you need to know:

• Minimum annual salary – N30 million
• Maximum loan amount accessible – N50 million
• Maximum tenor for loan repayment – 60 months
• Minimum salary domiciliation period with Union Bank – 1 month

Now you can own your dream home!

Make your dreams a reality with a convenient and flexible mortgage loan from Union Bank. You can access up to 150 million naira over 15 years at a minimum interest rate of 16% per annum.

Click here to find out more

Get up to 50% of your salary and pay back in a month’s time without hassles or collaterals.

• Minimum monthly salary – N15,000
• Maximum loan amount-N500,000
• Loan tenor – 30 days
• Salary domiciliation – 3 months
• Loan limit – 50% of salary

• USSD: *826*41#
• UnionMobile App

Access up to ₦5 million to facilitate the day-to-day activities of your large-scale business in any location nationwide.

Features:

• • • Average credit turnover- ₦500,000
    • Maximum loan amount – ₦5 million
    • Maximum loan tenor – 6 months
    • Length of relationship with UBN – 6 months
    • Clean-up cycle – every 90 days

Access up to N5 million to facilitate the day-to-day activities of your large-scale business in any location nationwide.

Features:

• • Net Turnover – N10,000 per month
  • Credit Turnover – N50,000 per month
  • Tenor – 6 months
  • Max Loan Amount – N5 million
  • Clean-up cycle – every 60 days

Get a loan for your personal or business needs fully backed by your investments.

Features of the cash-backed loan:

• Maximum loan amount – 80% of the investment amount
• Interest rate – 1%
• Maximum loan tenor – 12 months

Customers eligible for the cash-backed loan

• • Customers with target savings products (e.g UnionKorrect, UnionFlex etc)  CASH BACKED APPLICATION FORM – TSPs
  • Customers with investments  CASH BACKED APPLICATION FORM – FD _ TBILLS

The monthly interest rate on our loans ranges from 1% – 3.75%

Yes

This is usually system advised. Walk into any of our branches and asked to be scored to know how much you qualify for

This is auto-calculated. However, your monthly repayment cannot exceed 33% of your salary.

You are eligible for a top up after 3 months

Yes a letter of introduction/undertaking is required from your employer

You can get a personal loan by moving your salary to Union Bank. Please contact your Relationship Manager for more information.

• No, you can however obtain a self-employed loan to purchase a car.
• In the event that a client loses their job after accessing a loan from your firm, is there anything that can be done to ensure repayment continuity?
• If a customer loses their jobs after accessing our loans, the insurance company covering the loan will make payment for a period of time usually 12 months. During this period, the customer is expected to have gotten another job to continue repayment.

Yes, a customer can get a top-up loan while servicing an existing loan. To qualify, the customer must have made at least 3 repayments without defaulting.

If a customer loses their jobs after accessing our loans, the insurance company covering the loan will make payment for a period of time usually 6 months. During this period, the customer is expected to have gotten another job to continue repayment.

Yes, there are loans for our SME customers too.

You can apply for a restructuring or moratorium on your existing loan to ensure that it is performing.

Yes

Currently, we do not offer agricultural loans to individuals. You can however apply for a personal loan.

Please visit any of our branches to open a salary account

This is dependent on the loan amount and loan tenor requested