United bank of India car loan scheme

Hello buddy, I want to collect information about car loan scheme
Of United bank of India, because I am thinking of purchase car, and I have no enough money, so would you explain me interest rate of United bank of India car loan scheme?

Interest rate on United Bank of India car loan
Upto 3 Yrs.(New Car)
BR+1.80 i.e 12.25% p.a

Above 3 Yrs.(New Car)
BR+2.30 i.e 12.75% p.a

Upto 3 Yrs. (Old Car)
BR+3.30 i.e 13.75% p.a

Above 3 Yrs. (Old Car)
BR+3.80 i.e 14.25% p.a

Quantum of Loan:
For Purchase of New Car : Maximum Rs. 30 lacs for individuals and Rs. 40 lacs 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.

Margin
New Car:- 10%
Old Car:- 30%

Repayment:

New Vehicle
Maximum 72 EMI

Old Vehicle upto 2yrs old
Maximum 48 EMI

Old Vehicle 2yrs and upto 4yrs old
Maximum 36 EMI

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Answered By StudyChaCha Member

As you are looking to get information about the United Bank Of India Car Loan Scheme, so here I am providing the following Scheme:

United Bank Of India Car Loan Scheme

Eligibility Criteria :
Individual for own & family use
Partnership firm/Proprietorship firm/ Company / Society for private use

Quantum of Loan :
For Purchase of New Car
Maximum of Rs. 30 lacs for individuals and Rs. 40 lacs in case of Non-Individual

Margin :
New Car:- 15% of on road price of the vehicle (Individuals and corporates)
Processing Charge : 0.50%, Minimum Rs.500/- and Maximum Rs.10000/-

Documentation Charge :

Upto Rs.25000/- Nil

> Rs.25000/- to Rs.50000/- Rs.100/-

> Rs.50000/- to Rs.2.00 lac Rs.500/-

> Rs.2.00 lac to Rs.5.00 lac Rs.1000/-

> Rs.5.00 lac to Rs.20.00 lac Rs.1200/-

> Rs.20.00 lac to Rs.1.00 crore Rs.2500/-

Interest Rates

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Answered By StudyChaCha Member