Categories: Business Loans
| On 2 years ago

How to get a loan from Union Bank

Last updated on August 7th, 2023 at 11:59 am

Union bank loans offer a wide variety of options for customers to make their visions and expectations a reality. Basically, from entrepreneurs to salary earners, and even pensioners there is something for everyone. Loans have become a popular option today, especially when trying to invest or simply stay afloat of bills. Therefore, for whatever reason it is, Union bank loans surely have you covered.

What are the available Union bank loan services?

Licensed by the CBN, Union bank loan offers a number of options to its customers, which includes:

Payroll Loans

Payroll loans are specially for those whose salary is paid into their Union bank account. Therefore, the payroll loans allow you a number of options at competitive rates for that reason. Amazingly, you can even get cashback rewards when you take a loan with tenor between 2 to 5 years and repay on time. The products under this services include:

  • Personal loan
  • Salary advance
  • Back to school finance
  • Senior citizen loan
  • Union Flexi loans

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Digital loans

Union bank digital loans follow the profitable trend of offering microloans to individuals in need of quick cash for personal reasons. Therefore, this service saves you the stress of sourcing around or paper works. Basically, all you have to do is access the loan through the Union bank mobile app, ATMs, or USSD code. More so, the major product under this service is the payday loan that allows you to get up to 50% of your salary and pay it back in a month without collateral.

Non-payroll loans

Nonpayroll loans are for those who are not involved in active employment, hence, cannot boast of fixed income earnings. Basically, it is for business individuals to upscale at as little stress as possible. Also, you can choose from either of the following:

You can also read about the banks that give loans easily in Nigeria.

Does union bank give loans without collateral?

Yes, they do. However, this option is limited and only available with certain loan options. One of these is the digital loan, where you can access up to 50% of your monthly income and pay it back within a month. Basically, with the digital loan, you do not need any form of collateral at all.

What is the interest rate of Union bank loans?

There is no fixed interest rate for Union bank loans. Instead, during your application process, they would state the applicable interest, leaving you with the option of proceeding or rejecting the offer. Also, the interest rate varies depending on the type of loan and other factors like tenor and loan size. However, on average, it varies from 1% to 3.75%.

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What is the code for Union bank loans?

To obtain a Union bank loan, get started by dialing the USSD code – *826*41#. On dialing the code, a series of options would pop up. Therefore, after that, you can follow the prompt and make your choice on the available options.

How do I apply for Union bank loans?

Simply follow the process below to apply for union bank loans:

  • Visit their official website at
  • Scroll to your preferred loan and click on it
  • Click on the “loan application guide” option directly below the loan dialog box to understand what it entails
  • When done, click on the “apply for a loan” button to proceed and apply

How do I contact Union bank?

You can contact the bank through any of the following:

Phone: +234-1-2716816

Customer feedback and support:

Or visit any of their branches near you


With over a century of operation, Union bank has been meeting the needs of its customers for a long time. Their services are among the best in the country, therefore, feel free to visit to apply for a loan any time.