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Union Bank Loan Review – What you should know

Last updated on August 8th, 2023 at 10:48 am

Union bank is a household name in the banking industry of Nigeria. For your financial progress, they offer a wide range of loans to make your plans and visions a reality. Their loan process is straightforward and caters to the needs of all categories of individuals, including salary earners, pensioners, and entrepreneurs. Read on to find out about their loan services in detail.

What union bank loan services are available?

They categorized Union bank loans into three major categories, they are:

Payroll loans:

 payroll loans are for those whose salary account is domiciled with union bank. As a deal sweetener, you even get a cash reward for paying back in time. However, this only holds for loans with a tenor within 2 to 5 years. The available packages under payroll loans 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 accounts are domiciled with the bank.  

Salary advance

this provides up to 50% of your salary up front and has a maximum tenor of 12 months. To qualify, your salary account must have been domiciled for at least a month with union bank.

Back to school finance: 

Every parent needs to send their child to school, and salary advance ensures that is possible. It offers up to N15 million in tuition loans for you to pay your child’s school fees, with a maximum tenor of 12 months.   

Senior citizen loan: 

As retired personnel, you can get up to N10 million to finance your personal project and pay back over a period of 5 years.  

Union flexi loans: 

lastly, this loan is available only to those who earn up to N30 million per annum. If you do, you can obtain up to N50 million, and pay within 60 months.

Digital loans: 

they put digital loans in place in case you need quick cash. Therefore, it saves you the stress of hurrying around for money when tight. It is basically a payday loan where you can access up to 50% of your salary and pay it back in a month.


  • Maximum tenor of 30 days
  • Minimum monthly salary of N15,000
  • Maximum loan amount of N100,000
  • Your salary account must have been domiciled for at least 3 months
  • Loan limit of 50% of your total salary 

You can access the loan through the following means:

  • Union bank ATMs
  • USSD dialling of *826*41#
  • Union bank mobile application

Non payroll loans: 

This is for self-employed individuals and SME owners. There are different services under non-payroll loans that help you meet your financial needs. The services are:

  • Self-employed loans
  • Self-employed revolving overdraft
  • Cash backed loans

How do I apply for a Union bank loan?

To apply, simply follow the process below:

  1. Visit their official loan page at
  2. Select your preferred loan and take note of the details and documents required
  3. Click the apply for a loan button at the bottom of your preferred loan
  4. Fill out the online form that follows next and click submit


Union bank remains one giant in the industry and boasts numerous years of offering excellent customer services. Their loans are easy, quick, and accessible to anyone. It also caters to the needs of employees, SMEs, and tech-oriented customers.