Union Bank of India-Loans Repayment

Union Bank of India (UBI) is one of the oldest and largest public sector banks in India. It was founded in 1919 and is headquartered in Mumbai, India.

At Shriram Finance, we provide a seamless way to manage your Union Bank of India loan repayments. With our Bharat Bill Payment System (BBPS) service, you can now handle all aspects of your loan repayment quickly, securely, and conveniently. Additionally, experience the ease and speed of managing various other bills, recharges, subscriptions and deposit plans with Shriram Finance.

About Union Bank of India

Union Bank of India has a network of over 9,600 branches and 11,000 ATMs across the country. UBI is committed to providing its customers with high-quality banking products and services. UBI is also committed to providing its customers with a positive customer experience.

How to Pay My Union Bank of India Loan Repayment with Shriram Finance?

Here is a step-by-step guide to make quick payments for your Union Bank of India EMI (equated monthly instalments) online with Shriram Finance:

• Visit the Shriram Finance website.
• Navigate to the main menu and click on "Payments," then opt for "BBPS."
• Choose the "Financial Services & Tax" category and select "Loan Repayment."
• Select "Union Bank of India"
• Enter your Loan number for Union Bank of India and click "Proceed."
• Verify if the mobile number is correct and click "Continue."
• Enter the 6-digit OTP (one-time password) and click "Verify and Continue."
• Review your Union Bank of India loan EMI Payment details and click "Pay."
• Choose a preferred payment method, enter the required details and complete the payment.

By following these steps, you can efficiently repay your loan through Shriram Finance.

Why Should I Choose Shriram Finance for My Union Bank of India Loan Repayment?

Choosing Shriram Finance for Union Bank of India loan repayments offers several benefits:

Convenience: Shriram Finance provides a user-friendly and convenient platform for Union Bank of India loan repayments, making it easy to manage your financial obligations.

Quick and Easy: The process is streamlined, ensuring a hassle-free Union Bank of India loan quick-pay experience.

Access to Multiple Services: Shriram Finance offers additional financial services or products, allowing you to conveniently access various financial solutions in one place.

How to Download My Union Bank of India Loan EMIs Payment Receipts Online?

Shriram Finance offers two convenient options to download the payment receipts for your Union Bank of India EMI Payment online:

New Users: After completing your Union Bank of India loan repayment, click the "Download Receipt" button.

Existing Users: If you are already a registered user, login to your Shriram Finance customer portal, visit your profile and access "Transaction History." Here, you can easily select the "Download Receipt" option.

Benefits of Using Shriram Finance for Union Bank of India Loan Repayments

When it comes to Union Bank of India loan repayments, using Shriram Finance as your platform offers several significant benefits:

Security: Shriram Finance prioritises the security of your financial transactions, ensuring that your Union Bank of India loan EMI payments online are processed safely and securely.

User-Friendly Interface: The platform offers a user-friendly interface, making it easy for you to navigate and complete your EMI payments with convenience.

All-in-One Platform: Shriram Finance provides access to a variety of financial services, allowing you to manage your Union Bank of India loan EMI payment online and other financial needs in one place.

Timely Reminders: You can expect timely reminders to pay your Union Bank of India EMI before the due dates, helping you to stay on top of your payments and avoid late fees.

How to Check My Union Bank of India Loan Repayments Transaction History?

Shriram Finance offers two convenient options to check the transaction history for your Union Bank of India loan repayments:

New Users

• After completing your Union Bank of India loan repayments, click the "View Transaction History" button.
• Sign up using your name, mobile number, e-mail ID, and mPIN.
• You will be redirected to the Shriram Finance customer portal.
• Visit your profile and click on "Transaction History" to check the transaction history for your Union Bank of India loan repayments.

Existing Users

• If you are already a registered user, login to your Shriram Finance customer portal.
• Visit your profile and access "Transaction History" to check the transaction history for your Union Bank of India loan repayments.

List of Payment Methods Available on Shriram Finance for Union Bank of India Loan Repayment

Shriram Finance offers convenient online payment options, including debit cards, net banking and much more. For added flexibility, you can also raise collect requests.

What If My Union Bank of India Loan Repayment Fails?

If your Union Bank of India loan repayment fails, you need not worry. Choose from the below options:

Contact: Reach out to the service provider or contact the bank through which you made the transaction. You must confirm the transaction made and resolve the issue of payment failure.

Raise a Request: You can raise a request from the same page using the "Raise a Request" link provided in the receipt. Alternatively, choose from the below options that apply to you and follow the steps mentioned for that option.

• Existing User: If you are an existing user, you can login to your Shriram Finance customer portal, and visit the "My Profile" section to "Raise a Request."
• New User: If you are a new user, sign up using your name, mobile number, e-mail ID, and mPIN. Thereafter visit the "My Profile" section to "Raise a Request."
• Specific Transaction: To raise a request for a specific transaction, navigate to "Transaction History," choose the specific transaction, click "Need Help," to provide the necessary details, and click "Submit."

Customer Support: Reach out to our customer support team for assistance, as we can guide you through the troubleshooting process and help you resolve any billing issues.

What Happens If I Do Not Pay My Union Bank of India Loan Repayment on Time?

Failing to pay your Union Bank of India EMI online on time can negatively impact your credit scores. Late or missed payments are reported to credit bureaus, which can lower your credit score. A lower credit score can make it more challenging to secure loans or credit in the future and may result in higher interest rates on any credit you obtain.

You can also face other consequences like:

• Late Payment Charges: You may incur late payment charges, based on the specific terms and conditions of Union Bank of India.
• Discretionary Legal Action: In extreme cases where a significant amount remains unpaid for an extended period, Union Bank of India might, at its discretion, initiate legal proceedings.

How Can I Check the Payment Status on Shriram Finance for My Union Bank of India Loan Repayment?

Shriram Finance offers two convenient options to check the payment status for your Union Bank of India loan repayment. Choose the one that applies to you.

New Users:

a) Click the "View Transaction History" button after finishing your Union Bank of India Loan EMI Payment.

b) Register using your name, mobile number, email address, and mPIN.

c) You will be redirected to the Shriram Finance Customer Portal.

d) Visit your profile, select "Transaction History," and check the progress of your most recent Union Bank of India Loan Repayment.

Existing Users: If you have already signed up, login to the Shriram Finance Customer Portal, select your profile, and then access "Transaction History" to see the status of your most recent Union Bank of India EMI payment online.

Know the Types of Loans Provided by Union Bank of India

Union Bank of India offers various types of loans including Personal Loans, Education Loans, Business Loans, Home Loans and LAP (Loan against Property).

How Can I Calculate Union Bank of India Loan Repayments?

To calculate Union Bank of India loan repayments online, follow these steps:

• Access Union Bank of India's website or app.
• Enter the loan amount.
• Choose the loan tenure.
• Input the interest rate.
• Union Bank of India will provide you with the EMI amount.
• You can also use the Union Bank of India loan calculator for a quick estimate.

Ensure you meet the eligibility criteria before applying for the loan.

What Happens If I Miss an EMI Payment on My Union Bank of India Loan?

Missing an EMI payment on your Union Bank of India loan repayment can have various consequences:

Late Payment Fee: When you do not make an EMI payment on time, the bank will add a late fee, which is extra money on your regular EMI.

Credit Score Impact: Your credit score shows how trustworthy you are with credit. Missing payments can lower your score, making it tougher to get credit cards, loans, or mortgages later.

Legal Consequences: If you keep missing payments and become a defaulter, the bank might take legal action against you.

Higher Interest: Not paying your EMI does not stop the interest from piling up. Unpaid interest grows, meaning you will owe more in the long term.

Future Loan Challenges: Missed payments can damage your credit and make it harder to get loans in the future. If you do get approved, they might come with higher interest rates.

Download the Shriram One App Now

Experience the ultimate convenience of managing all your bills, recharges and bookings on the go. Download Shriram One App either from the Play Store or App Store. Simplify your life with hassle-free payments at your fingertips.