UnionBank launches P2M digital loan with instant cash disbursement

UnionBank launched a new personal digital loan service on Thursday, offering faster and more flexible processes with immediate cash disbursement upon approval without collateral or guarantor.

Customers can now borrow up to P2 million through the bank's secure online platform, eliminating the need for branch visits and significantly reducing wait times.

The new UnionBank Personal Loan allows borrowers to choose from flexible repayment terms of up to five years, tailored to fit individual budgets and lifestyles.

UnionBank Cards and Consumer Loans Head Mukul Sukhani emphasized that this seamless process empowers customers to achieve their goals faster with a secure and convenient digital experience.

Despite the launch of new services, UnionBank reported a 28.93% decline in net income year-on-year due to one-time tax-related write-offs from a subsidiary and front-loaded non-recurring costs.