Union Bank of India

Union Bank of India


There are many features of Business Loan offered by Union Bank of India. These include:

  • Quantum: Above Rs 5 crores to Rs 25 crores.
  • Appraisal/Assessment: Based on FBF with relaxed terms i.e. Current Ratio at 1.1:1, DER at 3.00:1 and DSCR at 1.50:1.
  • Collateral coverage of not less than 20% of total exposure.
  • Interest rate ranging from 125 bps below BPLR to maximum BPLR for Working Capital based on credit rating.
  • Further interest concession upto 0.50% in case of SME rated by SMERA or CRISIL.
  • Multicity Cheque Book
  • Cash Management Services
  • Quicker disposal with reduced time frame for sanction within 15 days. 
  • The scheme being implemented through 50 designated branches.


Loan Feature

Loan Amount Rs 5 crores to Rs 25 crores
Interest Rate N.A.
Tenure Not mentioned
Pre Payment Charges Not mentioned
Service Charges

Service charges not provided

Eligibility Criteria : Business Loan

Age Age criteria not provided
Income Income criteria not provided
Job Experience Job experience not provided
Residence Proof Residence proof not provided

Docs Required : Business Loan

ID Proof Passport/driving license/voter ID
Address Proof Electricity bill/telephone bill
DOB Proof Certificate of birth/Matriculation certificate
Financial Docs
  • Bank Statements(latest 6 months bank statement /passbook)
  • Latest ITR along with computation of income, B/S & P&L a/c for the last 2 yrs. certified by a CA 
  • Qualification proof of the highest professional degree

Other Charges : Business Loan


Products offered by Union Bank of India

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