Can UnionBank Loans Make the Difference for You?

When we are short on cash, we depend on loans to turn our luck. Will the UnionBank Loans be the best way to survive your financial dilemma?

Union Bank of the Philippines (UnionBank)

Union Bank of the Philippines is currently a publicly-listed universal bank. UnionBank is originally named as Union Savings and Mortgage Bank on August 16, 1968. It is a partnership among the Aboitiz Group, Insular Life and Social Security System (SSS).
On January 19, 1982, it became a commercial bank and got listed at the Philippine Stock Exchange (PSE). Now it offers loans, trusts & investments, and cash management services.

Credit: https://www.unionbankph.com/loans

UnionBank Loans – UnionBank Personal Loan

The UnionBank Salary loan is offered exclusively for UnionBank clients with payroll ATMs. This means that your company has to be affiliated with Union Bank.

UnionBank Auto Loan 

UnionBank Auto Loan is offered to Filipinos who are 21 to 65 years old. You must have a total monthly income of at least P50, 000. This is a bit high, but you can combine your monthly salary with your spouse’s to reach this requirement.
You can borrow from P200,000 up to P5,000,000. The Interest Rate (Standard Installment Rate) is 6.56% to 30.26% if you start paying your monthly installment a month after cash disbursement. The Interest Rate (One Month Advance Installment Rate) is 5.68% to 29.13% if you pay your first installment upon cash disbursement or one month ahead of your supposed first due date.

Facts to Consider  

You can get P10,000 free gas for Brand new cars only with a minimum amount financed worth P500,000. Do not get a Union Bank Personal Loan Philippines of this amount just because you want the freebie. 

UnionBank Home Loan

This is offered to Filipinos ages 21 to 65 years old upon application. Borrowers must be employed with permanent status and have good credit standing. This means that you must have a good credit history. You pay all your UnionBank cash loans and credit card bills on time.
The UnionBank quick loan interest rate is 6.00% in 1 year up to 10.50% fixed for 11 to 15 years. Depending on the bank’s discretion, you can borrow at least P500,000 up to 90% of the property’s selling price.

Facts to Consider

Just like most of the banks, Unionbank strictly uses a credit report to determine a person’s creditworthiness. This is crucial for most home loans as the loan amount is higher than the auto loan or personal loans.
Changes in agreed terms have charges depending on what you want to change, such as shortening or extending terms and cancellation.

UnionBank Quick Loan

One of the best go-to UnionBank loans is the UnionBank Quick Loan. It approves your UnionBank Quick Loan application fast and spends money on whatever you need. For example, you can buy new home appliances or gadgets. Or you can use the quick cash to pay unexpected hikes in utility bills. Read more about the UnionBank quick loan review for a better understanding. 

Qualified borrowers for quick cash loans are existing UnionBank deposit account holders. It means if you own an account, whichever type it may be, you can apply for it. Of course, the maximum loanable amount you can take home depends on your credit score. Nevertheless, the minimum loan amount is Php 1,000, while the maximum is Php 1,000,000. 

Facts to Consider

When applying for this type of loan, you might consider using the UnionBank Quick Loan Calculator. It helps you foresee your future expenses, including loan repayment. However, the processing fee depends on the loan amount.

• Loan amounting from Php 1,000 to Php 1,999 has a processing fee of Php 100. 
• Loan amounting from Php 2,000 to Php 4,999 has a processing fee of Php 300. 
• Loan amounting from Php 5,000 to Php 9,999 has a processing fee of Php 500. 
• Loan amounting to Php 10,000 and above has a processing fee of Php 2,000.

UnionBank Credit Card

On top of the UnionBank loans, the bank offers credit card services that help you grab exciting deals. 

UnionBank Credit Card Promos

• Cross Border PAL Mabuhay Miles

This promo is valid from April 17 to July 16, 2017. The Unionbank Mastercard holders must make a minimum overseas purchase of US$50. Every single receipt of US$50 earns one (1) electronic raffle entry. Ten winners will get 1 Million Mabuhay Miles.

• The SM Store Win Back Your Tuition Fee

One hundred winners can have their tuition fees reimbursed by SM Store. SM Store will reimburse up to P100,000 for the school year 2017-2018. The UnionBank Mastercard holder must spend at least P3,000 to get one raffle entry. This promo is only until July 15, 2017.

• The SM Store 0% Interest

Get 0% interest-FREE at The SM Store. You may also get O% interest if you avail the 3-month installment. Just spend a minimum of P5,000 on a single-receipt purchase until December 31, 2017.

• TravelBook.ph Promo

Get 10% less on Philippine hotel reservations if you book through www.travelbook.ph/unionbank. The booking period is only until November 7, 2017, while the stay period is until May 7, 2018. Take note that this is only applicable to selected hotels and accommodations.

Facts to Consider

Never skip reading the terms and conditions. Take note of the required amount to be spent, promo period and other mechanics.
As these are all promos with required expenditure, do not be tempted to overspend. It is best to qualify while spending on things you actually need.
Charge only the amount which you are confident that you can pay. If you fail to settle your credit card bill on your due date, you will be charged with interest rates and late payment fees. This could be a start of debt disaster if you are not careful.

Conclusion

While we know that Union Bank PH Personal Loan can indeed make a difference, it is a two-pronged sword as they say. Not taking the time to shop around for other options could be your financial downfall.
Choose the loan that can best fit your needs and financial capacity. If you are just looking for a short-term loan with less hassle, you can just get it from Cash Mart
Cash Mart offers online loans to Filipinos who need quick cash for various reasons. And if you need a loan with flexible payment terms, visit CashMart.ph now.