United Bank Car Loan – Interest Rates 2020, EMI Eligibility Calculator

United Bank of India Car Loan – Get Details on Auto Loans/Vehicle Finance Schemes of United Bank of India, Documents, Eligibility, Interest Rates and Fees and Charges of Loans with United Bank Car Loan EMI Calculator.

United Bank car loan Details:

Interest Rates 8.60% – 8.75%
Repayment Period 7 Years
Maximum loan amount Upto 40 Lakh
PROCESSING CHARGES 0.59% of the loan amount
Minimum Income Per Month Rs.25000

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Professional Details
Loan Amount

Occupation

Annual Income

City

Eligibility Criteria for United Bank of India Car Loan:

  • Individual persons who are going to use car for own and family use
  • Partnership firm/Proprietorship firm/ Company / Society for private use

You are a Savings/ Current Deposit/ Term Deposit A/c holder with the Bank and fulfill the following criteria-

  • Individual with minimum net income (take home for salaried persons) of Rs 30,000/- per month
  • For Salaried persons : The applicant (aged between 21-65 years) is in regular service for at least 2 year and remaining period of service to cover repayment period.
  • P&SE: They (aged between 21-65) should be in the profession/business for at least 2 year. The prospective borrower should be Savings / Current / Term Deposit Account holder of the Branch.

United Bank Car loan EMI Calculator

United Bank 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.9 lakh for Ford Ecosport or Hyundai Creta Sx car for 5 years repayment period at 8.90% rate of interest than you emi calculations are as follows:

  • Loan Amount = Rs. 9,00,000
  • Monthly Installment (EMI) = Rs. 18,639
  • Total Interest Amount = Rs. 2,18,332
  • Total Amount (Principal + Interest) = Rs. 11,18,332
Year Principal Interest Balance Amount
1 Rs. 149,572 Rs. 74,096 Rs. 750,428
2 Rs. 163,437 Rs. 60,231 Rs. 586,991
3 Rs. 178,593 Rs. 45,075 Rs. 408,398
4 Rs. 195,154 Rs. 28,514 Rs. 213,244
5 Rs. 213,381 Rs. 10,420 Rs. 0

Quantum of Loan:
For purchase of new car you can avail upto 30 lakh maximum loan amount from United Bank in your town.
No Limit for Non Salaried Class people.

Margin or share which is paid by you

  • New Car:- 15% of on road price of the vehicle (Individuals and corporates)
  • Old Car:- 25% of the valuation amount in case of old car

A special incentive in interest rate @ 0.50% concession from our card rates of car loan has been incorporated for the following eligible borrowers:

  1. Existing mortgage based loan borrowers who have completed 2 years of regular repayment.
  2. CC A/c holders having
    i. Completed minimum 2 years
    ii. Satisfactory conduct of the account
    iii. Credit Risk rating of atleast UBICR – 3
  3. Corporate/Institutions/companies/firms if repayment is ensured through a single cheque or direct credit to loan a/c.

Repayment :
The loan is to be repaid on the basis of Equated Monthly Installment (EMI) fixed in accordance with following norms taking into consideration the quantum of loan sanctioned.

Type of Vehicle Number of EMI
New Vehicle Maximum 84 Months
Old Vehicle upto 2yrs old Maximum 60 Months
Old Vehicle 2yrs and upto 4yrs old Maximum 36 EMI

No Penalty is charged for early repayment of the loan

Other Available Products of United Bank are :-

Source: United Bank of India Website