Union Bank — loans online in Philippines

A UnionBank Personal Loan is an unsecured loan product that helps borrowers fund major life goals without pledging any collateral. It can be used for home renovation, education, debt payment, emergency expenses, and more.

• Amount from 10,000 up to 2,000,000 PHP
• Repayment terms of up 1 to 5 years
• Annual loan rate of 25% to 36%
• Annual Contractual Rate (ACR) of 26.9%

UnionBank Personal Loan Features

• Get cash in as fast as 5 minutes from approval
• A loan of up to P2 million—no collateral or guarantor needed
• Flexible repayment terms of up to 5 years

UnionBank Personal Loan Eligibility and Requirements

• You are at least 21 to 65 years old.
• You are a Filipino resident or a local resident foreigner with a valid Philippine billing address.
• You have a Tax Payer's Identification Number (TIN).
• You are a principal credit cardholder.
• Have a minimum gross annual income of Php 250,000.

Documents:

One valid government-issued ID with photo and signature.

For employed:

• Latest complete 1 month pay slip issued within the last 2 months (Note: If you receive two or more pay slips in a month, please submit all of them); or
• Certificate of Employment with Salary issued within the last 2 months; or
• Latest ITR with BIR stamp (Note: ITR that was issued in 2020 will only be accepted until June 30, 2022)

For self-employed:

• Latest income tax return of your business (Form 1701) – all pages; AND
• Latest Audited Financial Statements of the business with independent auditor’s report and balance sheets and tax receipt with bank stamp – all pages

How to recieve a personal loan

To apply for a UnionBank personal loan online, you must access the online application form on the UnionBank website. You can fill in the details and submit the form along with all the required documents.

1. Choose your preferred mode of disbursement:
2. Review and sign the Loan Disclosure Statement (DS).
3. Agree to an Auto-Debit Agreement (ADA) with your UnionBank deposit account.
4. Loan proceeds will be released upon your consent to the DS and your agreement to the ADA. 

Modes of disbursement:

• Credit to your Nominated Bank Account or
• Delivery of a Managers Check to your billing address.

How to Pay the Loan

• Loan payments can be made through online banking transfers from your UnionBank deposit account.
• Automatic debit from your disbursed account may also be used.
• Payments must include correct details like loan account number and ZIP code.
• You can make a one-time payment or set up recurring payments online.

Example: If your loan is P200,000, booked on March 24 with payment due every 12th of the month, payable in 36 monthly installments at an applicable Annual Contractual Rate of 26.9%, with Disbursement Fee of P1,750 and Documentary Stamp Tax of P1,500, the Effective Interest Rate is 31.22% and the total amount to be repaid will be P296,394.86.​