The Union Bank of India personal loan is 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. 

The Union Bank has divided the eligibility criteria into two categories. 

Scheme A (Tie up ) 

  • The borrower should be a permanent employee of a reputed Pvt. organization in India. 

  • The borrower does not need to have a bank account with Union Bank. 

  • The borrower should have a minimum gross salary of Rs. 15,000 per month. 

Scheme ( Non Tie-up) 

  • The borrower should have a confirmed employee of private organization/institute in India. 

  • The applicant should be a customer of the bank for minimum 6 months.

  • The applicant should have a salary account with the bank. 

  • The applicant’s minimum salary should be Rs 15,000 per month. 

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. 

The Eligibility Criteria for Union Bank of India 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. 

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.

What factors will affect your eligibility for Union Bank of India personal loan?

When   someone applies  for a personal loan, the bank looks at multiple crucial factors to decide whether to move forward with the application or not. Here are some of those factors. 

  • Your current location – Where you live plays a huge role in your personal loan application.  It  affects the minimum salary the bank requires, the loan amount you will be eligible for. For metro cities, the minimum salary requirement is higher than tier-2 or tier- 3 cities. 
  • The monthly income –While assessing your application, the bank will check how much you earn. The calculation is simple. The more you earn the higher loan amount you will get. It shows as a borrower, you will have high chances of repaying the loan. 
  • Where do you stay - Are you living in your house or in a rented one? This plays an essential role in determining the loan amount.  If you stay in a rented house, it is counted as extra expense, thus affecting the loan amount. 
  • Where do you work – If you are working in a reputable company for at least 1 year, it shows you have a stable job, thus increasing the chances of the loan application approval. It helps in negotiating the personal loan interest rate. 
  • The CIBIL score – The CIBIL score is an indication of having a good credit history. The CIBIL score is calculated based on the Credit history. So, it is essential to maintain a good CIBIL score. If it is low, or there is any discrepancy, the loan application might get rejected instantly. 

What affects your CIBIL score?

The acceptance or rejection of an application for a personal loan greatly depends upon the CIBIL score. This is why it is essential to know what factors will affect it. 

  • The late payment - Delaying and skipping loan EMIs can severely hurt your credit score.   
  • The Credit limit usage - Using credit cards to  their maximum limit is also responsible for dipping  the CIBIL score. The maximum limit usage shows a borrower is having financial strain and hence lowers the score. . 

Apart from these factors, the number of secured and unsecured loans you have taken could also  affect it. Applying for multiple personal loans also affects the CIBIL score. 

So, these are the factors affecting your personal loan application.  The eligibility calculator determines the eligibility based on factors mentioned above. 


Q1 What is the age required for Union Bank of India personal loan?
The minimum age required is 18 years to apply for the loan. The maximum age is 58 years.
Q2 What is the minimum income requirement?
Union Bank asks for a minimum salary of Rs 15,000 monthly to become eligible for the loan.
Q3What is the maximum loan amount a borrower can get?
A borrower can get minimum Rs 10,000 and maximum Rs 10 lakh loan amount.
Q4Will I have to offer collateral to get the loan?
No, if you have a reasonable CIBIL score, you do not need to offer any collateral.
Q5 How I can apply for Union Bank of India personal loan?
You ca n apply for Union Bank personal loan online of offline.