United Bank Of India Car Loan
For purchase of new as well as old car (not older than 4 years).
- Individual for own & family use
- Partnership firm/Propreitorship 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 –
- A minimum net income (take home salary for salaried person) of Rs 5,000/- per month.
- In respect of working couple, net income of the spouse is considered for the purpose of computing net income and monthly installments, provided the spouse joins as co-borrower and monthly installment may be realised from the salaries of either of them. In case of salaried person, the applicant should be in regular service for atleast 2 years.
- Professional and self-employed persons who are at least 2 years in their profession.
Quantum of Loan:
For Purchase of New Car
Maximum of Rs. 30 lacs for individuals and No maximum limit in case of Non-Individual
For Purchase of Old Car (not older than 4 years)
Maximum of Rs. 6 lacs for both individuals and non-individual.
New Car:- 10%
Old Car:- 30% of the valuation amount in case of old car
Processing Charge: 0.50%
Rate of Interest
Repayment Period Fixed Rate
Old Car Upto 3 years 10.50% p.a BPLR – 2; 10.00% 11.50% p.a (fixed) Above 3 years 11.00% p.a BPLR – 1.5; 10.50% 12.00% p.a (fixed)
Customer can opt for either fixed or floating rate
Special concession of 0.25% in rate of interest from 19th June to 19th July 2010.
Concession in Interest rates for existing good borrowers of the Bank
A special incentive in interest rate @ 0.50% concession from our card rate 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
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 72 EMI Old Vehicle upto 2yrs old Maximum 48 EMI Old Vehicle 2yrs and upto 4yrs old Maximum 36 EMI
3 Responses to “United Bank Of India Car Loan”
A. H. Choudhury said on April 14th, 2011 at 4:27 pm
The data is given on the basis of interest rate as in 2010. It should be updated till date.
Narayan Singh said on March 1st, 2012 at 7:19 am
i want used car loun
sudipta kumar sen said on May 19th, 2012 at 3:14 am
want to take a car loan.