Realize your dreams: UnionBank launches fastest processing of personal loans
MANILA, Philippines — Union Bank of the Philippines continues to raise the bar in digital innovation with the launch of its enhanced Personal Loan facility. With this upgraded feature, qualified borrowers may receive cash disbursement in as fast as five minutes from loan approval—the quickest turnaround among traditional banks in the Philippines.
This fully digital loan process is designed specifically for customers who require fast, simple, secure and flexible financing—perfect for life’s major milestones, such as home renovations, pursuing passion projects and more.
Eligible borrowers can apply for personal loans of up to P2 million without the need for collateral or guarantors. Repayment terms are flexible, with options of up to five years.
“This is what we mean when we say that we want to redefine banking expectations,” says UnionBank EVP and cards and consumer loans head Mukul Sukhani. “Our processes are tailored for the customer’s convenience and less about everything else.”
A technology-enhanced experience
The entire UnionBank Personal Loan process—from application to approval—happens digitally. To make this possible, the bank has invested in world-class digital systems that allow it to process loans seamlessly.
“Our DNA is digital,” says Sukhani. “UnionBank has always been known to be at the forefront of technological and digital innovations.”
Along with the conveniences presented by UnionBank’s digital approach to personal loans, the bank also places a premium on security. It uses a host of tools to make sure both customers and the bank are protected from digital fraud and breaches of data privacy.
Several layers of verification and background checks take place between the application for personal loan and the cash disbursement. UnionBank has the technology and expertise to do this quickly and efficiently.
The process is made even faster if customers have a current account and savings account with UnionBank. If one has this, and the loan is approved, the bank simply links the loan account to the customer’s account, where it then disburses the full loan amount.
All in all, UnionBank’s Personal Loan digital processing creates better customer experience with real-time updates. Customers can go through the entire loan cycle without needing to sign a single piece of paper. What’s more, all loan statements are sent digitally.
Funding dreams fast
The UnionBank Personal Loan employs an exceptionally responsible lending process. Implicit in its loan approval is the customer’s credit profile.
UnionBank’s digital lending experience is backed by a commitment to responsible banking. Loan approvals are based on an assessment of the applicant’s creditworthiness, with the aim of supporting financial goals without encouraging overextension.
“We don’t want our customers to overextend themselves when they’re paying back the loan,” says Sukhani. “Because we’re customer-obsessed, we are always looking for ways and means to redefine the expectations of the customer.”
A big part of the process is knowing what Filipino consumers with fast-paced lifestyles need and empowering them to meet these needs with digital solutions. The bank remains focused on continuously delivering digital solutions that help fund customers’ dreams fast—through a UnionBank Personal Loan.
Experience the future of personal financing today. Apply for UnionBank’s all-new Personal Loan through https://www.unionbankph.com/r/pl-philstar.
For more information, visit www.unionbankph.com or follow UnionBank on Facebook, X (formerly Twitter), Instagram and YouTube for the latest updates.
Editor's Note: This press release for UnionBank is not covered by Philstar.com's editorial guidelines.
- Latest
