Union Bank of India Car Loan – Interest Rates 2018, EMI Eligibility Calculator

UBI Car loan – Details on Documents, Charges, Interest Rates, features and Eligibility for Car loans with Union Bank of India Calculator within seconds.

Union Bank Car Loan Interest Rates 2018

Interest Rates 8.85% – 11.85%
EMI Per Lakh Rs. 1,601 – Rs. 1,757
Max. Loan Amount 1.25 Crore
Processing Fees 0.50% of loan amount
Prepayment Charges Nil
Min. Income Rs.10000/- p.m
Loan Repayment upto 7 years

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Union Bank of India Car loan EMI Calculator

Union Bank of India car loan emi calculator helps you to know how much emi per month you have to pay against the loan taken for purchasing the new car. you can select or choose the right loan amount as per your financial condition and it helps you in selecting the car variant as per your paying capacity of EMI. For calculation you have to just select the right loan amount, Interest Rate and Repayment period.

Calculate Loans EMI Online

Loan Amount
Interest Rate (Reducing) % Per Annum
Loan Tenure (in Months)
 
Monthly EMI
Total Amount with Interest
Total Interest Amount
Yearly Interest Amount

For an example, You can take a loan amount of Rs.6.50 lakh for Maruti Swift Dzire ZDI or TATA Nexon XM car for 5 years repayment period at 8.85% rate of interest than your emi calculations are as follows:

  • Loan Amount = Rs. 6,50,000
  • Monthly Installment (EMI) = Rs. 13,446
  • Total Interest Amount = Rs. 1,56,740
  • Total Amount (Principal + Interest) = Rs. 8,06,740
Year Principal Interest Balance Amount
1 Rs. 108,143 Rs. 53,209 Rs. 541,857
2 Rs. 118,112 Rs. 43,240 Rs. 423,745
3 Rs. 129,001 Rs. 32,351 Rs. 294,744
4 Rs. 140,889 Rs. 20,463 Rs. 153,855
5 Rs. 153,953 Rs. 7,473 Rs. 0

Maximum Loan amount which you cab avail from Union Bank

✓ Four Wheeler (New) Maximum of Rs. 125 lakh
✓ Two Wheeler (New) Maximum of Rs. 10 Lakh
✓ Four Wheeler Old 4-wheelers (not older than 3 years) Maximum of Rs. 20 Lakh

MARGIN or Share which is contributed by you
✓ 15 % of on-road price (Vehicle Cost + Registration Charges + Insurance + Road Tax)
✓ 40 % of old vehicles cost

REPAYMENT Period or Maximum Tenure for which you can take a loan
✓ Four Wheeler (New)- Maximum 84 EMIs (7 years)
✓ Two Wheeler (New)- Maximum 36 EMIs (3 years)
✓ Four Wheeler (Old) (not Older than 3 Yrs)- Maximum 60 EMIs (5 years)

Prepayment Penalty / Charges
If you pay the loan amount from your own sources than NO prepayment Charges. If you can transfer your loan to other bank than you have to pay 2% of the pending loan amount as penalty.

SECURITY

✓ Hypothecation of vehicle purchased out of Bank’s finance
✓ Bank’s lien to be noted with the Road Transport authorities

GUARANTEE

✓ Spouse Guarantee is required is Must
✓ If Borrower is Single/Unmarried than only Third Part Guarantee is required

Other Available Products of Union Bank of India are –

Source: Union Bank of India Website

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