Union bank salary advance – If you have a salary account with Union bank I have a good news for you. You can now access a salary advance/overdraft each time you need cash to sort out yourself.
About Union bank salary advance
Union bank salary advance is a salary advantage loan granted to salary account holders with Union bank who have financial obligations to meet before the salary arrives.
As a salary earner who needs quick cash before the next pay day, you will need this salary advance to fill the void.
In this arrangement you can access up to 50% of your monthly salary and repayable within a tenor of 12-months.
Features
- To access the loan you should be earning at least N15,000 as salary
- You can access a maximum loan up to 50% of your monthly salary. Assuming your monthly salary is N100k, then you can access up to N50K
- Your salary account should have domiciled with Union bank for at least one month
- The loan has a 3-month tenor for termly fee payment and 12-month for session fee payment.
Union bank loan Requirements
- Applicant complete name
- Mobile number
- Union bank salary account
- Bank Verification Number
- Residential address
- State
- Local government
- Personal e-mail address
- Marital status
- Gender
- Employment status, etc.
How to access Union bank salary advance
Read also: How to get Zenith bank salary advance in simple steps
You can access this loan via the Union bank USSD code for loan application by
- Dialing *826*41# follow the screen prompt to access your loan
- UnionMobile App, you can access this loan on Union bank Mobile app
- You can access this loan on Union bank ATMs.
Other loans by Union bank include
Senior citizen loan
Senior citizen loan is meant for retirees, you can access a loan of up to N10 million to finance your personal project, repayment is made over 5 years.
Features
- Minimum monthly pension is N10k
- Maximum loan amount is N10 million
- Maximum loan tenor 60 months
- Pension domiciliation 1 month.
Personal loan
The personal loan is meant to serve users who need money to solve personal issues.
Features
- You should have a minimum monthly salary of N15k
- Maximum loan amount is N15 million
- Maximum loan tenor is 60 months
- Salary domiciliation is 1 month
Back-to-school Finance
You can get a back to school loan to pay for your children’s or ward tuition fees.
Features
- Maximum loan amount is N15 million
- Salary domiciliation 1 month
- 3 months tenor for termly fee payment, 12 months payment for session fee payment.
UnionFlexi Loan
If you earn up to N30 million per annum you can access up to N50 million to meet your financial obligations.
- You will need a minimum salary of N30 million in a year
- Maximum loan amount of N50 million
- Maximum tenor of 60 months
- Minimum salary domiciliation with Union bank is 1 month.
FAQ on Union bank salary advance
Q1. Union bank salary advance code
Ans. The salary advance code is a USSD represented by *828*41#, to access a facility with this code you should be up and running on the Union bank USSD.
Q2. Union bank loan interest rate
Ans. The monthly interest rate on Union bank facilities ranges from 1% – 3.75%
Q3. Union bank loan payment
Ans. Loan payment refers to a period where you are expected to start your loan repayment, this varies according to banks and type of facility being offered.
Maximum loan tenor can go for 12 months for the salary advance, 3-12 months for the back-to-school Finance, about 60 months for the senior citizen loan and UnionFlexi loan
Conclusion
You can start accessing the Union bank salary advance today, meet your basic financial needs then pay back on a predetermined date, if this guide was helpful kindly share please.