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City Union Bank Two Wheeler Loan

City Union Bank offers two-wheeler loans at attractive interest rates starting from 14.50% and a repayment tenure of up to 5 years. The process to apply for the loan is easy and can be completed online.

City Union Bank Two-Wheeler Loan Interest Rate

Interest Rate 14.50% p.a. onwards
Maximum Loan Amount Rs.1.50 lakh
Minimum Loan Amount Contact the bank
Income Contact the bank
Repayment Period Up to 5 years
Processing Fee 1.25% of the loan amount (minimum of Rs.700)
Prepayment Charges Contact the bank

Browse two-wheeler loan interest rate here.

How to Apply for a City Union Bank Two-Wheeler Loan

The process to apply for a City Union Bank two-wheeler loan online is mentioned below:

  • Go to City union Bank.
  • Click on ‘Personal’.
  • Click on ‘Loans’.
  • Click on ‘CUB Two-Wheeler Loan’.
  • On the next page, click on ‘Apply Now’.
  • Next, click on ‘Apply for Loan’.
  • Select whether you are an existing or new customer.
  • Select if you have an Aadhaar Card.
  • Enter the Aadhaar number.
  • Next, enter details such as your name, gender, date of birth, and mobile number.
  • Click on ‘Save’.
  • A City Union Bank executive will contact you to process the request.

City Union Bank Two-Wheeler Loan EMI Calculator

In case you are availing a loan from City Union Bank to purchase a bike, you can use the two-wheeler loan EMI calculator offered by the bank or BankBazaar to know the monthly payments. The calculator is easy to use and basic details such as the processing fee, tenure, loan amount, and rate of interest must be entered. Once the relevant details have been entered, the results are displayed immediately. When compared to manual calculations, the results are accurate and saves time.

City Union Bank Two-Wheeler Loan Eligibility

The eligibility criteria that must be met in order to avail a bike loan from City Union Bank are mentioned below:

  • Self-employed individuals and salaried employees can avail the loan.
  • In the case of salaried employees, the maximum loan that will be provided is 10 months of the net take home pay.
  • In the case of self-employed individuals, 50% of the annual income that has been declared in the Income Tax Returns (ITR) may be provided as a loan.

Documents Required

For Self-Employed Individuals:

  • Application form
  • Proof of residence (owned)
  • Repayment track record
  • Bank statement
  • Income Tax Returns (ITR)
  • Proof of identity
  • Proof of address
  • Passport-size photographs
  • Quotation provided by a recognised dealer
  • Profit and loss account
  • Balance sheet
  • Guarantor’s application

For Salaried Employees

  • Application form
  • Bank statement
  • Proof of income such as salary slips (three months), Form 16, or ITR
  • Proof of address
  • Proof of identity
  • Passport-size photographs
  • Guarantor’s application

Features and Benefits

The main features and benefits of the bike loan are mentioned below:

  • Self-employed individuals and salaried employees can avail a bike loan to purchase a new two-wheeler.
  • The maximum loan amount that can be availed is Rs.1.50 lakh.
  • The repayment tenure ranges between 36 months and 60 months.
  • Up to 90% of the ex-showroom price of the bike may be provided as a loan.
  • 1.25% of the loan amount may be provided as a loan. However, the minimum amount that is levied is Rs.700.
  • The interest rate is linked to the MCLR.
  • You can apply for the loan online.
  • Minimal documents need to be submitted.

FAQ's

  1. What is the maximum amount of loan that can be availed?

    The maximum amount of loan that can be availed is Rs.1.5 lakh.

  2. What is the repayment tenure?

    The repayment tenure ranges between 3 years and 5 years.

  3. What is the margin of finance that is provided?

    The margin that is provided by the bank is 10%.

  4. What is the rate of interest provided by the bank?

    The rate of interest provided by City Union Bank on its two-wheeler loans is 14.50%.

  5. What is the processing fee levied by the bank?

    1.25% of the loan amount is the processing fee levied by the bank. However, the minimum processing fee that is levied is Rs.700.

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