Union Bank Loans Explained / What You Should Know

Union Bank Loans Explained / What You Should Know

Union Bank is a household name in Nigeria's banking sector. For your financial advancement, they offer a variety of loans to make your plans and vision a reality. Their loan process is simple and caters to the needs of all categories of individuals, including paymasters, retirees, and entrepreneurs. Read on to find out more about their loan services.


What union bank loan services are available?

He categorized Union Bank loans into three main categories, namely:

Payroll loans:

Payroll loans are for those whose salary account is dominated by Union Bank. As a sweetheart, you also get a cash reward for making timely payments. However, this is only for tenant loans within 2 to 5 years. The packages available under the payday loan are:

Personal loan: 

This loan provides up to N15 million for you to settle your personal needs. It has a maximum tenor of 5 years and is only available to employees whose salary account are domicile with the bank.  

Salary advance: 

It provides up to 50% of your salary upfront and has a maximum tenure of twelve months. To qualify, you must keep your payroll account with Union Bank for at least one month.

Back to school finance: 

Every parent has to send their child to school and ensure a pay rise. It offers you an N15 million tuition loan with a maximum term of 12 months to pay your child's school fees.

Senior citizen loan: 

As a retired person, you can get N10 million to finance your personal project and pay for a period of 5 years.

Union Flexi loans: 

Finally, the loan is available to those earning up to N30 million per year. If you do, you can get up to N50 million, and pay within 60 months.

Digital loans: 

If you need immediate cash, they offer digital loans. So, it saves you from the stress of rushing money when you are tight. It is basically a payday loan where you can get 50% of your salary and payments in a month.


  • Maximum tenure of 30 days
  • Minimum monthly salary of 15,000
  • Maximum loan amount of N100,000
  • Your payroll account must reside for at least 3 months
  • Debt limit of 50% of your total salary

You can access the loan in the following ways:

Union Bank ATM

Dialing USSD * 826 * 41 #

Union Bank mobile application

Non-payroll loans: 

This is for self-employed individuals and SME owners. There are many services under non-payable loans that can help you meet your financial needs. Services are:

Self-employment loan

Self-employment plan overdraft

Cash backed loan

How do I apply for a Union bank loan?

To apply, simply follow the process below:

  1. Visit their official loan page https://www.unionbankng.com/loans/#here-are-ways-to-access-the- payday-loan
  2. Choose your favorite loan and pay attention to the required details and documents.
  3. Click on the Apply for Loans button below your preferred loan
  4. Then fill out the form online and click submit


Union Bank remains an industry giant and has been providing excellent customer service for many years. Their loans are easy, fast, and accessible to anyone. It also caters to the needs of technology-based employees, SMEs, and customers.

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