Terms and Conditions
References to the “UnionBank Online App” in the Quick Loans - Terms and Conditions shall be understood to cover the Eon App and/or Eon website at www.eonbankph.com (as far as applicable). The Terms of Use of the Eon App shall continue to apply. By applying for a Quick Loan with Union Bank of the Philippines (“UnionBank” or “Bank”), the applicant/borrower signifies that he/she has read, understood, and agrees with these Terms and Conditions (the “Terms”) and acknowledges that the same shall be binding on him/her. These Terms govern the use of the Quick Loans Facility (the “Facility”) granted by the Bank to the applicant/borrower. 
The Quick Loans Facility (the “Facility”). The Quick Loans Facility is a fully digital loan program of Union Bank of the Philippines (“UnionBank” or “Bank”) offered to savings/deposit/payroll account holders who meet certain criteria of the Bank.
Who May Avail. Only an applicant/borrower who has received an SMS and/or email notification with a unique invite code may apply by logging on to the EON website https://eonbankph.com/eonquickloans. Once at the website, the applicant/borrower shall provide the following information:
Invite Code 
Availment of the Loan.
After logging in either on the website, the applicant/borrower will accomplish the application form and/or verify the contents of the pre-populated application form. The applicant/borrower will also be provided with loan amounts, rates and processing fees, and any other relevant documentation. Applicant/borrower shall ensure and hereby certifies that the information provided in the online application form as required by UnionBank are valid, true, correct and complete. Applicant/borrower agrees to immediately and/or periodically update his/her information should there be any change, mistake or inaccuracy thereon. Borrower fully understands and agrees that any and all information provided to the Bank may be used by UnionBank to provide the Facility and other products/services which the applicant/borrower applies for or agrees to obtain from UnionBank. Applicant/borrower fully understands that the contact information provided shall be used by the Bank for all correspondences unless written notification of any change on said contact and/or other personal information is received by the Bank. 
Upon reading through, understanding and agreeing to the loan amount being availed, rates and fees and other relevant documentation, the applicant/borrower shall hit the “Submit” button for the Bank to process the availment. By hitting the “Submit” button, applicant/borrower represents and warrants that he/she has read, understood, and agrees to abide by the Terms of the Facility. 
Acceptance of the applicant/borrower’s application is at the sole discretion of the Bank in accordance with the Bank’s policies or in compliance with any law, rules or regulations. The Bank shall not be responsible for any failure in the application or availment process whether said application/availment is done on the EON website and the Bank reserves the right to decline any applicant/borrower who fails to comply with Bank requirements, or if in the Bank’s sole discretion the applicant’s/borrower’s availment of the Facility would expose the Bank to any risks. Applicant/borrower agrees to hold the Bank free and harmless from any and all costs, liabilities or damages which Applicant/borrower may suffer resulting from the Bank’s exercise of its discretion in accordance with this provision. 
The applicant/borrower acknowledges that once he/she has availed of a loan and the loan has been approved by UnionBank, whether or not the loan proceeds have been credited to the account, the borrower can no longer cancel the loan which he/she availed of. If borrower did not apply for a loan, borrower agrees that he/she must immediately contact EON’s Customer Service hotline within forty eight (48) hours from knowledge that such an application has been made, otherwise the loan application is deemed to have been made by the applicant/borrower and is considered valid and binding on him/her. 
Monitoring Loan Availment and Payments.
Payments will be debited once a month from the registered account number on the due date or the payroll date nearest to due date. The system will debit payment on the due date or after the borrower receives his/her salary in the registered account. Payments can also be done via Unionbank branches and partner outlets listed in EON’s website under Loan Payments FAQS found at https://eonbankph.com/faqs. These payment channels are available 24/7. Payment should be made on or before the due date to avoid late fees.
The borrower understands that the automatic debit arrangement is dependent on EON customer’s savings/deposit/payroll account, the Bank may debit the loan amortization amount from the balance in the savings/deposit/payroll account. Should the savings/deposit/payroll account have insufficient balance for the amortization payment on the due date, the Bank has the right to put a lien on the savings/deposit/payroll account to complete the deficiency in the loan amortization due. Without prejudice to Sec. 6 below, if the amount in the registered savings/deposit/payroll account is insufficient to cover the payment for the loan, the Bank will perform necessary call outs and notifications such as SMS, email and personal letter for payment reminders. The borrower agrees to defend, indemnify and hold the Bank free and harmless from any and all losses, costs or damages which the borrower or any third party may suffer resulting from the application of the lien.
Borrower is aware that the Bank’s inability to debit the savings/deposit/payroll account on the due date as a result of insufficiency of funds in the savings/deposit/payroll account or closure thereof, shall result in the Bank declaring the borrower in default and the entire loan amount then unpaid including any and all fees, charges or penalties imposed, shall become immediately due and demandable.
In the event that the Bank is not able to debit the borrower’s monthly amortization on the due date for whatever reason, the borrower agrees to maintain funds in his/her savings/deposit/payroll account in such amounts sufficient to satisfy the amount due for the period and/or make the necessary payments in accordance with Sec. 3(b) herein. The borrower understands that the Bank’s failure to debit the savings/deposit/payroll account on the due date for reasons not attributable to the borrower is not equivalent to a waiver on the part of the Bank to collect the borrower’s monthly amortization which has fallen due.
If for whatever reason the borrower’s registered savings/deposit/payroll account no longer receives credits for two (2) consecutive months and the amount therein is insufficient to cover the loan amortization payments which have fallen due, in addition to the other remedy(ies) available to the Bank as set forth in this Terms & Conditions, or under the law, the Bank, at its option, may endorse collection of the entire loan amount including any and all fees, charges and penalties assessed, to a collection agency.
If the borrower wishes to pre-pay their loan in full, the borrower can call Quick Loans Support using the Customer Service number and by providing the required information as set forth in Sec. 7.
Interest. The borrower agrees to pay interest on the loan facility at the fixed interest rate agreed upon with the Bank and as stated in the Quick Loans Promissory Note and Disclosure Statement signed by the borrower. The interest is calculated on a daily basis based on the diminishing balance of the loan. Please refer to the Disclosure Statement provided. The Disclosure Statement shall be a computer-generated notice and would not be signed but shall be deemed as having been issued by the Bank and is to be read together with and shall form part of the agreement governing the Facility. Any difference between the Facility amount, interest rate or term applied for and the amount, interest rate or term finally approved by the Bank, shall not affect the validity of these Terms.
Processing Fee. The borrower agrees to pay the processing fee of the Facility and shall be collected upfront prior to the release of the loan proceeds. Processing fee will be based on availed loan amount:
Php 3,250 and Php 5,250 = P250
Event of Default. In case of non-payment of the entire loan or any portion thereof as stated in the Promissory Note, on due date/maturity for whatever reason including, but not limited to, the closure of the borrower’s savings/deposit/payroll account, the whole sum of outstanding and unpaid amount under the Promissory Note shall thereupon become immediately due and payable without need for demand or notice to the borrower. In the event of default, the borrower jointly and, severally agrees to pay as penalty charges, an additional amount equivalent to thirty six percent (36%) per annum of the total outstanding amount due, until fully paid, and should the Bank require the services of counsel to enforce collection of the Promissory Note, the further sum equivalent to twenty percent (20%) of the total amount due, but in no case less than Five Thousand Pesos (P5,000.00), as attorney's fees, plus cost of suit and other judicial or extrajudicial expenses. Venue of any suit arising from a collection case or a violation of these Terms shall only be in Pasig City to the exclusion of other venues. In case of judicial execution of Borrower's obligation, the rights of Borrower under Rule 39, Section 13 of the Rules of Court are hereby waived.
Customer Service. For any concerns, you may contact us through our Customer Service Hotline at (+632) 8841-8600, or email eonquickloan@unionbankph.com. Union Bank of the Philippines is an entity regulated by the Bangko Sentral ng Pilipinas (BSP) with email address consumeraffairs@bsp.gov.ph. For complaints resolution, please be guided by the turnaround time set by the Bangko Sentral ng Pilipinas (BSP) and in line with UnionBank's Consumer Assistance Management System (CAMS). To better assist the applicant/borrower, he/she agrees to provide the following details via email:
Full name;
Savings/deposit/payroll Account Number;
Loan Account Number;
Concern (subject of email) and background.
Disclosure of Information. Applicant/borrower hereby authorizes the Bank to send notifications through text or e-mail messages, of any and all reminders, notices, marketing materials, promotions, loan offerings, and all other Bank offering and product updates. Applicant/borrower understands and agrees that the Bank may use the personal information he/she has provided to pre-qualify him/her for other product offerings. Applicant/borrower confirms that he/she is solely responsible for the security of his/her cellphone and e-mail and thus hereby agrees to defend, indemnify and holds the Bank free and harmless from any and all damages, causes of action, and liabilities if the information contained in the electronic or text notification is, for whatever reason, by any means accessed by any person other than the applicant/borrower. Pursuant to Republic Act No. 9510 otherwise known as “the Credit Information System Act” and its Implementing Rules and Regulations, applicant/borrower acknowledges that the Bank is mandated to submit or disclose his/her basic credit data to the Credit Information Corporation (CIC) as well as any updates or corrections thereof, and share said basic data with other lenders authorized by the CIC, credit reporting agencies duly accredited by the CIC and financial service providers. Applicant/borrower acknowledges that he/she has read, understood and consents to the Bank’s Privacy Policy found at https://www.eonbankph.com/privacy_policy.

The Applicant agrees that the Bank, directly or through its Partners, may collect, retrieve, process, use and store his/her personal data such as name, age, photographs, fingerprints, other biometric data (e.g., facial recognition and voice recognition), mobile number/s, mobile phone usage data, employment details, income, financial data, financial profile, credit standing, loan payment history, and other information required in the application form for the purpose of reviewing and processing the Applicant’s loan application. The Applicant consents to the collection of his/her personal data from the Applicant her/himself, or from other personal information controllers such as, but not limited to, telecommunications companies, for credit scoring purposes. The Applicant’s personal data such as mobile number, email address, and address, will be shared to a credit scoring service provider for credit investigation, credit scoring, data analytics, and data profiling, which includes the regular updating of the Applicant’s credit score. The personal data secured may also be used for direct marketing of products and services of Partners.

Throughout the processing of the Applicant’s personal data, his/her rights under the Data Privacy Act of 2012, such as the (1) right to be informed, (2) right to object, (3) right to access, (4) right to rectification, (5) right to erasure or blocking, and (6) right to damages, shall be upheld. Entities to whom we share your data will also respect the same rights. Applicant/borrower hereby acknowledges and accepts Globe Telecom Inc. (“Globe”) as the bank’s data sharing partner, and he/she consents that his/her data may be used, collected, processed, stored, accessed, entered into a processing system, updated, shared, transferred or disclosed by the Bank and Globe for other relevant transactions and activity of the Bank and Globe. The applicant/borrower further consents to the use and transfer of their telco usage data or “telco score” for the purpose of credit scoring/analytics between the Bank and Globe. The applicant/borrower understands that credit scoring analytics in this case is done in order to credit assess the applicant/borrower, and consents to the use of his/her telco usage data or “telco score” in order to achieve such purpose.

The Applicant’s/Borrower's information may also continue to be stored and processed for 10 years from the date of the last transaction or until the lapse of the period stated in the privacy policy of Lender. Should Applicant/Borrower also wish to access, rectify, or correct its data, or withdraw consent to the use of any or all of his/her information as set out in this Agreement, Applicant/ Borrower may communicate the same with dpo@unionbankph.com.
Limits of the Bank’s Liability. Acceptance of these Terms and/or applicant’s/borrower’s availment of the Facility means that applicant/borrower agrees that the Bank is not liable for any loss or damage suffered by the applicant/borrower or any third party as a consequence of:
Incomplete, inaccurate, incorrect information provided to the Bank;
Any fraud, bad faith or misrepresentation on the part of the applicant/borrower;
The effect of the provisions of Republic Act No. 1405 as amended; applicable provisions of the General Banking Act and pertinent laws or regulations related thereto or the subject matter herein;
Errors, breakdown or failure of Bank systems or third-party systems which the Bank is connected to or used by the Bank;
Borrower’s failure to implement the necessary security measures to protect against
identity theft or fraud.
Amendment. The Bank may amend or change provisions in these Terms at any time. As far as reasonably practicable, the applicant/borrower will be notified of any change in the manner provided by applicable law prior to the effective date of the change. Applicant/borrower agrees to frequently check https://eonbankph.com/faqs for any updates on the Facility. If the change is made for security purposes and to prevent further losses, the Bank can implement such change without prior notice.
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