Credit Bureau Consent, Welcome Offer & General Terms & Conditions

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Union National Bank Business Finance

Union National Bank Bank

WarningMessage This product is discontinued by the Bank

Business Finance

Flat Rate

9.1%

Reducing Rate

16.5%

Min Finance Amount

AED 25K

Max Finance Amount

AED 2000K

Early Settlement Fee

3%

Min Annual Turnover

AED 1500K

Tenure

60 Months

Approval Time

10 Days

Processing Fee

3%

flat rate

9.1%

Flat Rate

reducing rate

16.5%

Reducing Rate

AED 25K

Min Finance Amount

maximum finance

AED 2000K

Max Finance Amount

early settlement fee

3%

Early Settlement Fee

minimum turnover

AED 1500K

Min Annual Turnover

tenure

60 Months

Tenure

approval time

10 Days

Approval Time

processing fee

3%

Processing Fee

Features

  • The reduction rate and the flat rate is 16.5% and 9.1%. This denotes that the computation done was a division of the reduction rate by 1.813
  • Provides maximum finance amount of up to AED 2,000,000
  • Early settlement fee is 3% of the finance amount
  • Processing fee is 3% of the loan amount
  • Repayment period is up to 60 months
  • Provides minimum finance amount of up to AED 25,000
  • 2 years minimum length of business is required to qualify for this finance
  • No maximum annual turnover limit is needed to be eligible for this finance
  • Minimum annual sales turnover of AED 1,500,000 is needed to apply for this finance
  • You need to have a bank account with Union National Bank to apply for this finance
  • After successful submission of documents, within next 10 working days the bank will approve the loan

Required Documents

  • Trade License should be valid
  • Original bank statements of past 12 months Application form
  • Copy of share certificates
  • Power of attorney
  • Owners personal guarantee

Benefits

  • Finance amount is high
  • Long and flexible repayment period is provided by bank
  • A dedicated relationship manager guides you throughout the process
  • Documentation process is simple and easy

Frequently Asked Questions

⭐ How many days does the bank take to approve the loan?

A. Bank takes up to 10 working days to approve the loan.

⭐ What are the documents that are required to apply for business loan?

A. Documents required to apply for business loan are:
1. KYC documents
2. Business and residence ownership proof
3. Salary proof

⭐ Do I need to pledge property or equipment to get a loan?

A. Yes, for a security purpose, you need to pledge your property or equipments while applying for business loan.

⭐ Does Union National bank has restrictions on who can borrow from them?

A. The borrower must be a company or, if an individual is borrowing then it must be used for the given purpose only.

⭐ How does the bank decide my payment schedule?

A. Payment schedule can be daily, weekly or monthly basis, depending on borrowers interest.

Union National

Established as a Public Joint Stock Company (P.J.S.C) in 1982, Union National Bank (UNB) has shareholdings from both Dubai and Abu Dhabi Government. UNB has a Vision ‘to be the best in class for the banking industry in the UAE’ and a Mission ‘to be the first and the best bank of choice for all stakeholders.’ The values followed by UNB are :

  • Integrity & Transparency
  • Customer Focus
  • Team spirit
  • Continuous Improvement
  • Nurturing Staff
  • Responsible Community Membership
  • Best practices

   Get in touch with Union National Bank Customer Care