Union Bank serves the residents of some states with its reliable financial products. If you are a resident of California, Washington or Oregon, you may try the services available at this bank. Now known as MUFG Union Bank, N.A., it can help borrowers with its secured and unsecured loan products and credit cards.
How can you seek help from Union Bank?
If you are someone who is residing in the states mentioned above and is in dire need of emergency fund, you can approach a local branch of Union Bank. Those who already have business relationships with the bank must visit their bank branches and talk to customer service representatives. You are likely to be offered a personal financing solution tailor-made to your typical situation.
Does Union Bank offer unsecured personal loans?
The bank does, but not all can qualify. You must be known to the bank and your credit score must be over 700. Besides, the bank may also look into the details of your credit report and may ask about your current job and income. The best thing about Union Bank personal loans is competitive interest rates and flexible repayment options.
When should you apply for Union Bank personal line of credit?
A personal line of credit can be a better option in certain situations. You might need to pay school or college fees every few months. Sometimes home remodeling takes longer and needs small amount of money on a frequent basis. You may use a credit card, but the advantage with a personal credit line is lower interest rate and higher limit. For example, the limit on a Union Bank personal line of credit varies from $500 to $25,000.
What are the other loan programs that allow personal uses?
Homeowners with substantial equity can apply for a home equity loan, which is nothing but a secured loan. It is good because of very low interest rates, affordable monthly payments and extended repayment periods. There may be several other collateral-based secured loan options also at Union Bank.
Is Union Bank a better option than online lenders?
Yes, if you can qualify. Being a large bank, it can offer you certain advantages that non-banking institutions are unable to provide. Moreover, you are rest assured of a clean and transparent deal. With online lenders, you always face certain risks, such as scams, excessive interest rates, and predatory lending practices. Union Bank, or any other recognized bank, is usually free from scams and unusual lending practices.