Union Bank launches loan for govt. pensioners

Malinda Perera

Union Bank announced the launch of the new Union Bank Pension Loan, to empower the government pensioners live their retirement with dignity and strength. 

Introduced under the warm and empowering theme ‘Make your retirement a strength, not a burden’, this special loan is designed to be the most rewarding financial solution for government pensioners.

Also available for widow pensioners, the Central Bank retirees and armed forces members not in service, this loan is built to give the retirees true financial freedom. 

Whether it is for building a home, fulfilling a lifelong dream, handling personal expenses or creating an income-generating avenue, the government pensioners can borrow up to Rs.8 million, with a very comfortable repayment period of up to 15 years. 

To make the process as easy and stress-free as possible, the bank offers low interest rates and fast approvals with no personal guarantors required.  

Union Bank Vice President Retail Products and Cards Malinda Perera said, “What makes this loan truly unique are the free daily lifestyle benefits that Union Bank is adding to care for its customers. Union Bank provides the highest loan value of Rs.8 million and is the only bank that provides some key benefits. The pensioners will receive Rs.30,000 worth of free PickMe rides every year for safe and independent travel, alongside a yearly health package worth Rs.7,000 that covers medical screenings at Nawaloka Hospitals and cash back for medicine during their birthday month along with other benefits.

The pensioners will also receive a pre-approved Union Bank credit card as an extra safety cushion for sudden financial emergencies.”