Union Bank Car Loan

Union Bank Car Loan
 5.0 / 5.0   by 4 users
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Fees & Charges

Promised Interest Rate

Customer Service

Responsiveness

Union Bank of India was established on 11th November 1919 with its headquarters in the city of Bombay now known as Mumbai. The Head Office building of the Bank in Mumbai was inaugurated by Mahatma Gandhi, the Father of the nation in the year 1921. Union Bank has been playing a very proactive role in the economic growth of India and it extends credit for the requirements of different sectors of economy. Industries, exports, trading, agriculture, infrastructure and the individual segments are sectors in which the bank has deployed credit to spur economic growth and to earn from a well diversified portfolio of assets. Now you can fulfill your dreams of owing a vehicle by availing Union Miles. You can avail this special scheme to purchase of new or old (up to 3 years) four-wheeler, and you can also avail this loan to purchase a new two-wheeler. To know more, follow some simple steps given below to get best interest rates.


You’re probably eligible for an Union Bank Car Loan if you are

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Union Bank Car Loan Minimum Age

At least 18 years old

Union Bank Car Loan Maximum Age

Less than 60 years old

Union Bank Car Loan Eligible Employment Type

Salaried or self-employed
with regular income

Union Bank Car Loan Minimum Income

Earn more than the minimum
income required


Your Union Bank Car Loan amount eligibility is based on these factors

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Union Bank Car Loan Minimum Salary

Minimum income required
Rs.1,20,000 per annum

Union Bank Car Loan Maximum Loan to Value

Loan capped @
85% of the ex-showroom price

Union Bank Car Loan EMI

EMIs of other loans lower
your eligibility


Increase your eligible Union Bank Car Loan amount by these steps

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Union Bank Car Loan Payoff Outstanding Credit Card Bills

Pay off your credit card bills

Union Bank Car Loan Maximum Tenure

Choose longer tenure loan up to 7 years


Documentation needed to apply for an Union Bank Car Loan

  • 1. Signed application form with photograph
  • 2. Photo ID and age proof
  • 3. Residence proof
  • 4. Last 6 months bank statement
  • 5. Documentation for salaried applicants:
    • Last 3 months salary – slips
    • Form 16 or Income Tax Returns
  • 6. Documentation for self-employed applicants:

    • Last 3 years Income Tax Returns with computation of Income
    • Last 3 years CA Certified / Audited Balance Sheet and Profit & Loss Account

Union Bank Car Loan Interest RatesUpdated on 21 Oct 2014

Union Bank Car Loan Details
Interest Rate (Monthly reducing balance) 10.70% fixed
Processing Fees Rs.6,000
Loan Tenure 1 year to 7 years
Guarantor Requirement Guarantor required

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Union Bank Car Loan Reviews

100 % of our customers would recommend this bank. (4 out of 4) Write Review
Customer Reviews
Page 1 of 1 1
  • Validated User
    (0)

    I am very much satisfied by availing the car loan from Union bank of India. They are very excellent and supportive. During 2013 I was in little bit economic crunch due to surgery of my family member . At that time I got some cheque bounces wherein they supported me and gave me 3 days as grace period without charging any late payment. Thanks for the support . Now everything in streamline. Interest rate was little low compared with other banks. They are very responsive

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    took a Car Loan from UNION BANK OF INDIA Reviewed on
  • Validated User
    (0)

    Car Loan with Union Bank of India with in 2 days i got approval interest rate was same as other banks, charges and processing fee was minimum, it is nationalized bank so i got good benefits best part is i can pay more amount to reduce interest rate pre closure charges is not available.

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    took a Car Loan from UNION BANK OF INDIA on BankBazaar.com Reviewed on
  • Validated User
    (0)

    Outstanding Customer Service is what Union Bank of India Car Loan is offering, despite of being a Government Bank it provides excellent Customer service, staff are well knowledge and well trained and they make each and every customer to feel special, on top of that the interest rate what they offer is very less when compared with other banks and processing fee as well.

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    Fees & Charges
    Promised Interest Rate
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    took a Car Loan from UNION BANK OF INDIA on BankBazaar.com Reviewed on
  • Validated User
    (0)

    Actually submitted the documents previously for home loan, it was easier for getting the car loan. The documentation was simple and its the same for home loan. It was done within 2 days. EMI date is flexible and interest rate is quite comfortable and pay in excess and there is no penalty charges.

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    Fees & Charges
    Promised Interest Rate
    Customer Service
    Responsiveness
    took a Car Loan from UNION BANK OF INDIA Reviewed on
Customer Reviews
Page 1 of 1 1
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