Thinking of a Personal Loan to pay off your debts?

Take a look at Union Bank of India Personal Loan for Govt. Employees

Union Bank of India Personal Loan – Special Retail Lending Scheme for Government Employees

This loan helps borrowers to get funds to meet their personal needs such as expenses for a child’s wedding, travel, medical emergency, etc. This loan scheme can also be repurposed into a consolidation loan to pay off their debts.

Features of Union Personal Loan – Special Retail Lending Scheme for Government Employees

Why this Loan?

  • The Union Bank of India Personal Loan for Govt. Employees is designed to help permanent/confirmed employees of government organisations to meet their personal needs. Borrowers can also avail this loan scheme to pay off their debts or takeover of an existing loan, thereby consolidating their debts
  • This loan is offered as a term loan and overdraft. The borrowers who maintain a salary account with the bank can avail the loan as a term loan as well as overdraft whereas others can only avail this as a term loan
  • This is a collateral-free loan

Loan Amount

  • The maximum loan amount offered under this loan scheme is Rs. 15 lakh. The actual loan amount sanctioned depends on the repayment capacity of the borrower


  • The interest rate for this loan is defined as the sum of two factors: External Benchmark Lending Rate (EBLR) and Credit Risk Spread. As of October 2020, the EBLR of Union Bank of India is 6.80% and the Credit Risk Spread for this loan depends on the CIBIL score of the borrower


  • This loan must be repaid within 5 years. There is no moratorium period for this loan
  • The loan must end on/before retirement


  • Permanent/confirmed employees of central and state governments, public-sector units and government undertakings are eligible for this loan
  • The minimum age of the applicant must be 18 years

Security Needed

  • This is an unsecured loan, meaning you don’t have to offer any collateral to get the loan

Documents Needed

  • Loan Application Form duly filled and signed by the applicant and co-applicant, if any
  • Two Passport Size Photographs of applicant and co-applicant
  • Personal ID Proof: Aadhaar Card, PAN Card, Passport or Driving License. PAN Card / PAN Card Issuing Letter is must
  • Signature Proof: PAN Card, Banker’s Verification, Driving License or Passport
  • Residential Address Proof (Any One): Aadhaar Card, Electricity Bill, Post-paid Phone Bill, Valid Rent Agreement
  • Income/Banking Proof for Salaried Professionals: Last 3 months’ salary slip, Form 16 or income tax returns
  • Salary account details

Reference Facts:

  • Union Bank of India Website: and (net banking)
  • Headquarters: Mumbai, Maharashtra
  • Call Centre Toll-Free Number: 1800 2222 44, 1800 208 2244