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UNION Bank New Car Loan
Over the past few years, the Indian banking industry has experienced enormous growth. There are many public and private sector banks in the nation today. These banks serve a sizable number of clients, both domestically and abroad. Among its many other lending services, the Union Bank of India, a public sector bank in India. Union Bank offers car loans with flexible tenure and the lowest possible interest rates.Powered By
UNION Bank New Car Loan
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Here are a few factors
| Location | 50Km from Branch |
| CIBIL Score | 650+ |
| Loan Amount & Tenure | 1
Lac to No Limit (12 month to 84 month) |
| Loan to Value(LTV) | Up to 90% of on Road Price |
| Type of Funded Vehicle | New Car |
| Rate of Interest & Type | 8.80% to 10.50%(Fixed) |
| Processing Fees | Nil |
| TAT | Sanction-2
Days Disbursement-3 Days |
| Foreclosure Charges | Nil |
| Applicant | Any Salaried or Self Employed Person |
| Applicant Age | 18 to 75 Year |
| Applicant Minimum Income | 1.
Salaried having monthly net Salary>25K 2. Self Employed Person having ITR>3 Lac |
| Business Vintage for Self Employed Applicant | 2 Year |
| Minimum Job Experience for Salaried Applicant | 1 Year |
| Whether Co-Applicant Mandatory | No |
| Part Payment Allowed | Yes |
| Product | 1.
Salaried- 48 Time of gross monthly Salary 2. Self Employed-3 time of average annual income of last 2 year |
| Negative Profile | No Negative Profile |
| USP | 1. Funding to NRI as well 2. Funding to Pensioner also |
Required Documents to Apply for UNION Bank New Car Loan
Salaried Person
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KYC of applicant
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Last 3 Month Salary Slip
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Last 12 month Bank Statement of applicant
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Last 3 year ITR with computation of income of applicant or Last 2 Year Form 16 of applicant
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26AS of last 2 year of applicant
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Quotation of Car
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Latest Utility Bill of co-borrower if Owned premises else rent agreement if rentedSanction letter of all running loan
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Latest utility Bill if owned residence or rent agreement if rented
Self Employed
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KYC of applicant & Co-Applicant
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KYC of Co-BorrowerLast 3 year ITR with computation of income of applicant & co-applicant
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Last 3 year audited balance sheet of applicant
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Last 3 year Tax audit report of applicant
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Last 12 month Bank Statement of applicant & co-applicant
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Copy of Last 12 month GST return if applicable
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Quotation of Car
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Sanction letter of all running loan
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Latest utility Bill of residence if owned or rent agreement if rented
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Latest utility Bill of Office if owned or rent agreement if rented
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List of Directors & Shareholders, if applicant if Company or List of Partners if applicant is Partnership firm/LLP
Save Your Time with a Simple Loan Process
Visit Our Website
For the first step, you will have to visit our website to explore the loan options that fit your needs.
Select and Apply
Once you shortlist the loan you have been looking for, apply for it, and proceed with the further process.
Submit Your Document
One of the most important steps. Now you will have to submit all the required documents digitally.
Enjoy Your Financial Freedom!
Once your application is approved based on your eligibility, you will receive your loan amount shortly.
FREQUENTLY ASKED QUESTIONS
The applicant may apply in person for Union Bank's car loan, through one of the bank's branches, or by calling the bank's mobile banking services. Applicants may also apply through Refer Loan's platform.
The bank requires borrowers to be at least eighteen years old to qualify for a car loan.
The highest amount that can be granted to a borrower as a loan is not capped by the bank. To buy new automobiles, the bank will lend up to 90% of the vehicle's worth.
When the application and supporting documentation are submitted following the bank's policies, the loan under Union Miles can be approved in two business days.
Union Bank will offer upto 84 months to repay your loan.
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