Details about the UnionBank Cash Loan Interest and Amount Allowed for Borrowing
UNIONBANK CASH LOAN INTEREST – Here is a guide for clients with regards to the loanable amounts and interest under the UnionBank offer.
Are you looking for a fast solution to your financial needs? There are entities that you may turn to for it and the list includes banks. In the Philippines, one of the banks that has an excellent solution for cash needs is the UnionBank Philippines.
The UnionBank is one of the long-standing banks in the country since the 1980s. It was in 1982 when it started operating as a commercial bank and, after 10 years, it obtained a license to operate as a universal bank. Its offers continued to grow.
UnionBank offers deposit accounts of different types, loans, investment products, credit cards, and many other financial services. One of the offers of the bank is the UnionBank Personal Loan or also called the cash loan offer.
The Personal Loan is a multi-purpose cash loan offer with fast approval. The approval can come as fast as five (5) minutes since the loan application was filed.
With regards to the loanable amounts under the offer, according to UnionBank, a client may borrow an amount not exceeding Php 2 million. It is payable within five (5) years or up to 60 monthly amortizations.
On the UnionBank Cash loan interest rate, it depends on the prevailing annual interest rate at the time of the loan approval. Thus, the annual interest rate will be divided by 365/366 to get the daily interest rate.
The UnionBank Cash Loan interest will be implemented on a diminishing balance scheme. This means that it will be based on the unpaid portion of your loan.
There are requirements for UnionBank Personal Cash Loan that you must prepare if you want to apply for the loan offer. The list of documents needed would depend if you are salaried or non-salaried Filipino or a foreign national.
