UnionBank has introduced an updated personal loan product designed to offer quick access to funds. This enhanced offering aims to provide approved applicants with funds in as little as five minutes, which the bank states is a rapid turnaround time among traditional banks.

UnionBank designed the digital application process for this loan. It supports various financial needs, such as home improvements, educational pursuits, or family support.

The bank also structured the Personal Loan for customers who prioritise efficiency and ease of use. Its fully digital processing system facilitates immediate cash disbursement upon approval, removing the need for extensive waiting periods or paperwork.

Borrowers may access up to PHP 2 million without requiring collateral or a guarantor.

The loan product also offers flexible repayment terms of up to five years, allowing borrowers to select a payment schedule that aligns with their financial planning. This flexibility aims to make the financing process manageable for various personal investments and life events.

The entire application process for the UnionBank Personal Loan is available online. Customers can submit necessary documents, monitor their application status, and receive approval through UnionBank’s digital platform. This online system helps reduce the need for branch visits and minimises processing times.

Loan approval is subject to terms and conditions, which may include holding a UnionBank Savings Account.

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