Union Bank Car Loan

Union Bank Car Loan
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Fees & Charges

Promised Interest Rate

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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

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

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

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 20 Aug 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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