Customers of Union Bank can get started on their plans with Quick Loans, which allows pre-qualified UBP customers to get short-term cash loans. Customers who take out a loan will have their money in their accounts within sixty (60) seconds.
Customers who have a UnionBank savings account are currently eligible for the loans. For UnionBank account members, Quick Loans is an entirely digital loan program. Customers that are authorized receive their funds in less than 60 seconds.
During current uncertain times, this type of credit facility allows Applicant/Borrower to purchase home appliances, dream devices, and pay bills? Quick Loans provides you with fast cash for whatever you require, when you require it, in less than a minute.
Late payment penalties for 1-30 days are P200, 1-2 months are P400, 2-3 months are P600, and >3 months are P800.
The processing fee for a Union bank rapid loan is P2,000 for amounts above P10,000, P500 for amounts between P5,000 and P9,999, P300 for amounts between P2,000 and P4,999, and P100 for amounts between P1,000 and P1,999.
The loanable amounts for Quick Loans in general might range from the following:
The maximum loan amount is P1,000,000.00.
P1,000.00 is the minimum loan amount.
The loan duration might be 1, 2, 3, 6, or 12 months, and the maximum loan amount is determined by your credit score. This amount will be communicated to you through SMS or email, or shown on the Quick Loans website during the application process.
You may also be interested in reading Union Bank Philippines’ Salary Loans, Auto and House Loans: How to Apply and Requirements.
How will I know whether I am pre-qualified for a quick loan from Union Bank?
Customers who have been pre-qualified will receive an SMS and/or email message. This will include a one-of-a-kind invitation code that you can use to access the website.
The UnionBank Online App will notify qualified deposit account customers through SMS or a button within the app.
How do I apply for a quick loan from Union Bank?
Follow the steps below to apply for a Union bank quick loan using one of two methods: online or through a mobile app. Your application will be completed in less than 10 minutes.
1.VISIT THE QUICK LOANS WEBSITE AND LOG IN.
2.Go to the link (https://unionbankph.com/loans/quick-loan) provided in the notification sms or email. Fill in the following information for your login credentials:
- Use the Invite Code
- Payroll account number (12 digits) OR last 5 digits of ATM payroll
- Provide an email address
- Your mobile phone number
1.USE THE UNIONBANK ONLINE APP TO LOG IN (ANDROID, iOS, Web Version)
2.Alternatively, you can use your phone or a computer browser to access your UnionBank Online App.
3.A button with the words “You qualify for a loan” will show on the main dashboard. 4.Simply click that and follow the on-screen instructions.
5.You can get the UnionBank Online App from the Google Playstore or the Apple App Store if you don’t already have it.
After you’ve logged in using your preferred method:
- The application page will be seen by you, the borrower, and will include loan amounts, rates, and processing fees, as well as Terms & Conditions, an Automatic Debit Arrangement, and a Disclosure Statement.
- After clicking submit and agreeing to all of the terms and conditions, the net loan proceeds will be paid to your account in seconds.
- You will receive SMS and email alerts that your loan profits have been paid to your account, as well as the Application Form, Promissory Note, and Amortization Schedule that are attached.
Banks and online lenders in the Philippines that offer salary loans
When will my payments be taken out of my account?
Union Bank offers a rapid loan. Your account will be debited once a month for payment. This normally occurs on the due date of your loan or the payroll date closest to your due date, whichever comes first.
The 15th or 30th of the month is when your loan is due.
*After you get your salary in your payroll account, the system will debit your payment.
Once your current Quick Loan has been paid in full, you may apply for a new loan. If you want to take out another loan, you can either wait for an SMS or email advising you of your eligibility for the next promo period, or you can apply 3 to 4 weeks after your current Quick Loan matures using the Cash Loan option on the Quick Loans website.