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