Union Bank of India Car Loan – Interest Rates 2024, 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 2024
| Interest Rates | 8.75% – 13.00% |
| 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 |
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.
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For an example, You can take a car loan amount of Rs.6.50 lakh for Maruti Swift Dzire ZDI or TATA Nexon XM car for 5 years repayment period at 9.15% rate of interest than your emi calculations are as follows:
- Loan Amount = Rs. 6,50,000
- Monthly Installment (EMI) = Rs. 13540
- Total Interest Amount = Rs. 1,62,418
- Total Amount (Principal + Interest) = Rs. 8,12,418
| Year | Principal | Interest | Balance Amount |
| 1 | Rs. 107,438 | Rs. 55,042 | Rs. 542,562 |
| 2 | Rs. 117,689 | Rs. 44,791 | Rs. 424,873 |
| 3 | Rs. 128,922 | Rs. 33,558 | Rs. 295,951 |
| 4 | Rs. 141,225 | Rs. 21,255 | Rs. 154,726 |
| 5 | Rs. 154,829 | Rs. 7,776 | 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 –
- Union Bank Home Loan
- Union Bank Personal Loan
- Union Bank Credit Card
- Union Bank Education Loan
- Union Bank Loan Against Property
Source: Union Bank of India Website
