Union Bank of India Personal Loan Eligibility Calculator

2. Description TheUnion Bank of India personal loanis one of India’s highly rated personal loan products. Its competitive interest rate, higher loan amount and low processing fee  make it a preferred lending product.  However, in order to get qualified for the loan, a borrower has to meet the eligibility criteria. Union Bank of India personal loan eligibility calculator can help individuals to ensure their eligibility. The bank offers loans under multiple categories – salaried individuals, government employees, self-employed applicants and top employees of government.  The eligibility depends upon several factors such as age, income, debt to income ratio, etc. of a borrower. The good thing is Union bank offers personal loan to many kinds of borrowers such as salaried individuals, self, employed professionals, government employees, etc.

3. The Eligibility Criteria for Self-employed Professionals • The borrower should be a self-employed professional or non-salaried applicant having a regular source of income.  • The applicant’s minimum age should be 25 years at the time of application and maximum 60 years during maturity.  • The applicant should have a bank account with the Union Bank for at least 2 years before applying for its business loan.  • The borrower should have a good account history with the bank of AQB of more than Rs 25,000.

4. The Eligibility Criteria for Union Bank Personal Loan for Government Employees • The applicant should be a permanent employee of state or central government, teachers and non- teachers staff in the government school or colleges • The minimum age required is 18 years.  • The borrower does not need to have a salary account in the Union Bank of India.  • The applicant (Government employee) should be the main applicant in the business loan application.

5. The General Criteria for Union Bank of India Personal Loan • The borrower’s age should be between 21 years and 65 years to apply for the loan.  • The borrower should be an Indian resident.  • The borrower should be a self-employed or salaried individual.  • The borrower should have minimum 2 years of work experience.  • The borrower should be employed with current company for a minimum 1 year.  • The borrower’s minimum income should be Rs 15,000 monthly. • The preferred credit score requirement is 750.