If you really think about it, it's easier getting a loan for a car than a loan for bus fare!
  • Union Bank Car Loan

    Union Bank Car Loan
     5.0 / 5.0   by 7 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

    01
    02
    03
    04
    Union Bank Car Loan Minimum Age

    At least 18 years old

    Union Bank Car Loan Maximum Age

    No Maximum Age Stipulation

    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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    02
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    Union Bank Car Loan Minimum Salary

    Salaried with Regular Income

    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

    01
    02
    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 01 Jul 2015

    Union Bank Car Loan Details
    Interest Rate 10.45% fixed. I-Base – 10.00%
    Loan Tenure 1 year to 7 years
    Guarantor Requirement Guarantor required
    Processing Fee 0.50% of the loan amount, subject to maximum of Rs. 6,000 plus service tax as applicable

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    Union Bank Car Loan Reviews

    86 % of our customers would recommend this bank. (6 out of 7) Write Review
    Customer Reviews
    Page 1 of 1 1
    • Validated User
      (0)

      Union Bank of India car loan process is fine. Interest rate offered by them was a fixed rate and the processing fee charged by them was very minimal. The only drawback as there was too much of formalities they kept asking various questions. They came to my place for a house visit also. However when it comes to documentation it was not very complicated I just filled up the form and everything was completed.

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

      I have taken a Car loan from United Bank of India. The services offered by the Bank was good. The executive came home and collected all the papers. After which there was no specific reasons given by the Bank for not approving my loan. The processing fee charged was nominal by the Bank.

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

      As I am an employee of Union bank I feel that the services are good. I have a car loan which has benefits is like we can avail amount of Rs.5 lakhs with a simple interest rate of 8.5%. I would say that the services was ok and satisfactory as it is a staff loan.

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      aroop took a Car Loan from UNION BANK OF INDIA Reviewed on
    • 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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      mohd 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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      pradeep took a Car Loan from UNION BANK OF INDIA 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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      anil took a Car Loan from UNION BANK OF INDIA 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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      murali took a Car Loan from UNION BANK OF INDIA Reviewed on
    Customer Reviews
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