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Union Bank Personal Loan Interest Rates

Union Bank offers personal loans to fulfil your personal needs. The loan can be availed for meeting personal goals such as children’s education, house renovation, pleasure trips, etc. This loan works as a lender of last resort during a financial crisis. The loan is, however, majorly offered to employees at NVS and KVS, employees at PSU, government, existing customers of home loans, etc.

The bank charges different rates of interest on these loans depending on the tenure and category under which you are eligible. The interest rates start from 12 % and can go up to 14.75 %. Factors such as your CIBIL score, income, relationship with the Union Bank determine the actual interest rate imposed.

Interest Rates on Union Bank Personal Loan 2017

Particulars

Salaried Individuals

Self-employed Individuals

Rate of Interest

14.4 % p.a.

14.4 % p.a.

Loan Value

Maximum Rs.5 lakhs

Maximum Rs.10 lakhs

Tenure of the loan

Maximum 5 years

Maximum 5 years

Least EMI

Rs.2347.61

(Calculated on the loan value of Rs 1 lakh at the lowest interest rate for the longest tenure.)

Rs.2347.61

(Calculated on the loan value of Rs 1 lakh at the lowest interest rate for the longest tenure.)

Processing Fee

0.5 % of the total loan value, minimum being Rs.500 + GST

0.5 % of the total loan value, minimum being Rs.500 + GST

Age

21 - 58 years

21 - 58 years
How interest or EMI is calculated on Union Bank personal loans

You can calculate EMI on loan using an EMI calculator available at banks or financial sites effortlessly. Just fill in the principal amount, the rate of interest, tenure and processing fee, you will find an answer to the total interest payable along with the loan amortisation table. This table shows the complete breakup of the repayment of your personal loan.

Personal Loan Interest Rates by Banks