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Get the Best Loans © UTB Bank

Apply for a loan

We strongly recommend that potential applicants review our eligibility criteria and contact our finance or insurance officer to discuss the project proposal prior to beginning the application process. The finance officer will direct you to the appropriate application form and identify the supporting documentation that may be required.

What is a personal loan?

Personal loans are a type of installment loan. That means you borrow a fixed amount of money and pay it back with interest in monthly payments over the life of the loan which typically ranges from 12 to 25 months. Once you’ve paid your loan in full, your account is closed. If you need more money, you have to apply for a new loan.

This is an unsecured loan, which means you do not need to provide a collateral to borrow. Banks and financial institutions can offer this loan at a lower interest rate, if you have a good credit score.

Some benefits of this loan can be:

  • Low interest rates.

    Interest rates on this loan, as compared to repayment of Credit Card or Credit Card Loan is significantly lower. This is especially true in case of larger amounts

  • Improve credit score.

    This is especially true in case you have similar types of existing credit. A Personal Loan can prove to be useful in improving your score by adding variety to the types of account you hold.

  • Create an emergency fund.

    You might find yourself living pay-cheque to pay-cheque, without any funds to save. In such a scenario, rather than waiting for an emergency to occur, it is wiser to get a loan to create an emergency fund. It could be medical expenses or a sudden trip you need to take, having a rainy day fund is always a good idea.

  • Consolidated debt:

    One of the best ways of utilising a Personal Loan is consolidating all existing debts. It is wiser to pay off smaller high interest debts such as Student Loans or Credit Cards by opting for a lower interest loan.

  • Variety of usage

    Funds you receive via this loan can be used for a variety of purposes. Be it to fund an international trip, purchase a gadget or repay your friend, you can opt for a Personal Loan to satisfy any of these needs

Types of personal loans


Standard personal loans

is one that's lower than the national average, which is 9.41%, according to the most recently available Experian data. Your credit score, debt-to-income ratio and other factors all dictate what interest rate offers you can expect to receive


Online lenders

In its broadest sense, online lending is any kind of loan that's not directly from a traditional bank. A number of online lenders are often referred to as an online lender because they are an alternative to a traditional bank


Variable-Rate Loans

A variable rate loan has an interest rate that adjusts over time in response to changes in the market. Many fixed rate consumer loans are available are also available with a variable rate, such as private student loans, mortgages and personal loans.


Specialized lenders

In specialized lending, the transaction risk is more isolated from the credit standing of the borrower(s) since the actual borrower is a dedicated vehicle which secures the debt with the cash flows generated by its assets.

How do I apply for a loan


Learn the processing from us

With offers from multiple lenders in hand, it’s time to compare your options and choose one loan application to move forward with.


Apply within 30 minutes

Get your online loans with UTB Bank. It could be car problems, an unexpected bill, an illness or hundreds of other potential issues people across the country face every day. When this happens, finding the short-term funding you need can be difficult.


We will make a decision within 24 hours

UTB Bank: Excels at quick approval and funding. Most applications get decisions within 24 hours and you can get the cash within one or two business days.