• City Union Bank Two Wheeler Loan

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    Two Wheeler Loan
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    With more than a billion populace, the bike and two wheeler manufacturing industry in the country has seen immense development in the past ten years and continues to escalate from strength to strength. Two wheelers in India comprehend a predominant part of the arena. Though it is still a convenient and preferred means of transport, it is still not easy for majority of the Indian middle class to buy one by paying its whole price in one go. Hence two wheeler loans are a great help here. But even those who could afford more than one car opt for two wheelers and motorcycles to navigate in and out of heavy city traffic. And banks like City Union Bank are only too happy to oblige.

    Features and Benefits of City Union Bank Two Wheeler Loan:

    1. Purpose of the Loan:

      The two wheeler loan shall be allowed only for new bikes or two wheelers and not for second hand ones.

    2. Permitted Loan Sum:

      Calculate your salary for 10 months or INR 35,000 is the maximum two wheeler loan sum offered by City Union Bank.

      You can add your spouse's income too and make him/ her the co-applicant, to complete the eligibility criteria as mentioned above.

    3. Interest Rates:

      Base Rate is 10.75 percent

      Base Rate plus 7.00 (17.75)

    4. Security:

      Hypothecation of the motor cycle or two wheeler to be bought is kept as security or collateral.

    5. Third Party Guarantee:

      Together with the loan applicant, the partner (or may be someone else who fulfills the eligibility criteria as per the Scheme to stand as co-applicant.

    6. Repayment Tenure:

      You are expected to settle the loan in a maximum time period of 36 months in EMIs. The bank doesn't allow any moratorium period in this regard.

    7. Two Wheeler Insurance:

      An all-inclusive insurance cover is to be acquired at the price of the applicant as per the loan clause.

    8. Processing Fees:

      The bank will levy you a processing Fees at one percent of the entire loan sum. But everything is so transparent as there are no veiled charges.

    9. Loan Disbursement:

      The approved loan sum will be shelled out to the seller or provider directly.

    Protect your bike with 2 Wheeler Insurance

    Perfect Personal Loan Deals for you

    Eligibility Criteria for City Union Bank Two Wheeler Loan:

    • The applicant should have to of age 18 and above.
    • Salaried individuals should have monthly income at least INR 5000.
    • Independent professionals and freelancers with an annual income of INR 75,000 according to the IT Return Papers.
    • The income of the spouse could be added on condition that he/ she is also signed as a co-applicant.

    Also Read: Two Wheeler Insurance.

    City Union Bank Bike Loan Documentation:

    • Photocopy of any of your ID Proof such as Driving License, Voters ID, Aadhar Card or Passport.
    • Photocopy of your residential address proof such as any address bearing Identity Card, Rental/ Lease Agreement or Ration Card.
    • Income Papers such as bank statements, salary slips and IT Return Papers.

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    City Union Bank Two Wheeler Loan Reviews

  • Page 1 of 1
    • review Two Wheeler Loan
      "Good service"
      0.5 4.0/5 "Great!"
      The 2 wheeler loan has been taken from City Union bank around 2 years ago. The customer support is good with the City Union bank. They have disbursed my 2 wheeler loan amount within 4 days of time. The required loan amount has been given and they have sanctioned the loan amount for 80%.
      Was this review helpful? 0
      , bangalore
      Reviewed on Nov 25, 2017
    • review Two Wheeler Loan
      "Best service"
      0.5 3.5/5 "Pretty good"
      I had taken personal loan from city union bank.The loan amount had received is 52,000 rate of interest is 12% high compared to other banks.customer service is good they respond on time.they'd deducted processing fees of 600 and insurance is 5000,they took almost 3 weeks to complete the process.
      Was this review helpful? 0
      , chennai
      Reviewed on Nov 15, 2017
    • review Two Wheeler Loan
      0.5 4.0/5 "Great!"
      I have the two wheeler loan with city union bank the overall service is good . The interest rate charged was 15% and the processing fee was charged nominal. After getting the quotation within three days the cheque is given to the showroom dealer name. We can pre close the loan any time after first emi.
      Was this review helpful? 1
      , chennai
      Reviewed on Jan 18, 2016
    • review Two Wheeler Loan
      "Easy approval!"
      0.5 4.0/5 "Great!"
      Since I hold a savings account with City Union Bank, it was easy for my two wheeler loan approval. I reached the branch for submitting the documents and they processed the loan within a weekâ??s time. Interest rate is quite normal for the loan application.
      Was this review helpful? 1
      , chennai
      Reviewed on Nov 02, 2015
    • review Two Wheeler Loan
      "Nominal charge.."
      0.5 4.0/5 "Great!"
      City Union Bank servicing better. I visited the manager and he asked for some documents to process the two wheeler loan. Overall they processed the loan on time. Response is differing from employee to employee. For me they gave 13.5% of interest. Outside 1600 is the service charge but here they just collected 600.
      Was this review helpful? 1
      , vellore
      Reviewed on Oct 24, 2015
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