For senior citizens. Targeted at Pensioners who must be receiving a minimum monthly pension of N10,000. They must have received a minimum of one month pension with Union Bank plus 2 months statement from the other bank.
The maximum age is 74 years – Loan must expire at least few days to customer’s 75th birthday.
Maximum Interest Rate: 12 – 38% p.a (system advised).
Management Fee: 1%
i. Up to 67 years- 2.8% (Loan must expire at least few days before customer is 70 years)
ii. 68 years and above- 4% ((Loan must expire at least few days before customer is 75 years)