City Union Bank Car Loan | Interest Rates | Eligibility | Documents

City Union Bank Car Loan: Get details on Interest rates, Documents, Eligibility & EMI on Loan on car loans.

Eligibility:

Individuals /Business Concern having a net Salary/Income not less than 15000/- per month and professional/others who earn not less than Rs. 1,50,000/- per annum (as per IT return) including those already enjoying credit facilities from the bank are eligible for consideration under the scheme. For the computation of net salary/income,the salary/income of the spouse to be added provided he/she stands as a co-obligant to the loan.

Third Party Guarantee:

Along with the applicant, the spouse / or may other individual who is fulfilling the eligibility criteria under the Scheme is to stand as Co-obligant.

Repayment:

Repayment is to be made within a maximum period of 60 months in equated monthly installments. And No moratorium period is to be allowed.

Insurance:

A comprehensive insurance cover is to be obtained at the cost of the borrower with bank clause.

Processing Fees:

Processing Fees at 1% of the loan amount to be charged. And no other hidden charges as charged by other banks.

Disbursement:

Disbursement of the loan is to be made directly to the seller or supplier.