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City Union Bank is an Indian bank. The Kumbakonam Bank Limited, as it was at first called, was incorporated as a limited company on 31 October 1904. The bank initially preferred the role of a regional bank in the Thanjavur District Tamil Nadu. The main purpose of the loan is helping the deposit holders to get financial help against their deposit at the time of need, and the advance is for immediate family or business expenses. To know more, follow some simple steps given below to get attractive deals.
| Interest Rate (Monthly reducing balance) | 14.50% |
| Processing Fees | 1.25%; Minimum Rs.700 |
| Loan Tenure | 5 years |
Owning a car of your choice is a dream that every individual carries life-long. But getting the right car with the right kind of financing, takes effort and considerable research from the individual’s end. Car owners generally look for affordable interest rates when they choose a car loan. Along with other aspects of a car loan the extra charges levied should also be taken into account by prospective borrowers.
As one of the best car loans in the market, City Union Bank offers a car loan product with competitive pricing and complete transparency. Car owners can also get a comprehensive car insurance policy along with their CUB car loans. City Union Bank offers complete flexibility of repayments with variable tenures.
The Yoha Vahana car loan scheme from City Union Bank is a comprehensive financing solution for your new car, giving you maximum returns when you plan to invest on a four-wheeler. Low processing charges and flexible repayments make a City Union Bank car loan, one of the most sought-out debt product in India.
Bought a car and wondering which insurance plan to opt for? We are here to help you.
Quantum of Loan
City Union Bank sanctions car loans up to a maximum of Rs.5, 00,000/- for professionals and self-employed businessmen with an annual income of above 1.5 lakhs.
Loan Margin
The loan margin required for a City Union Bank car loan is 10%.
Security
The hypothecation of the vehicle is required while availing a City Union Bank car loan.
Third Party Guarantee
A co-obligant can be given when an application is made to City Union Bank. The third party can be the spouse considered for the eligibility or any other individual.
Repayment
Customers have to make repayments in the form of monthly installments within a maximum tenure of 60 months. CUB does not allow any moratorium period to be included.
Insurance
An all-inclusive car insurance policy can be got for a CUB car loan, with the borrower bearing the cost of the insurance policy.
Processing fees
City Union Bank charges 1% of the total loan amount as processing fees for car loans, with no extra charges.
Disbursal of the loan
City Union Bank disburses the car loan directly to the car dealer or supplier.
City Union Bank Car Loan Interest Rates
City Union Bank offers car loans at a competitive interest of 15%, fixed for the entire loan tenure.
When you decide to buy a new car, you are generally very decisive about the car model and make. What actually puts you in a dilemma is how you are going to finance the car and if you do choose a car loan how much will that actually cost you. It is very important that you plan your finances and understand how much you would actually be paying towards a car loan. Helping you in this decision making process are intelligent tools called car loan EMI calculators. This tool will show you the actual cost of a City Union Bank car loan with a break-up of interest rates and monthly installments. As inputs, certain details like processing fees, loan amount, loan tenure and interest rates need to be entered. The car loan EMI calculator projects a repayment forecast, helping you manage your money better.
No, City Union Bank does not provide car loans for second hand cars.
Yes, Hypothecation of the vehicle has to be mandatorily done while applying for a CUB car loan.
Yes, customers can easily apply for a City Union Bank car loan using the online form. They need to fill-in certain personal details when they file an application.
No, the CUB Yoha Vahana scheme does not provide loans for two-wheelers. City Union Bank offers the CUB Easy Ride loan scheme exclusively for two-wheelers.
No, City Union Bank does not provide any kind of moratorium period for car loans availed by customers.
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