Union Bank of India offers loan for purchase of vehicles for personal use under Union Miles Scheme. Loan can be taken by both individuals and firms. Bank charges a processing fee of Rs 250 for two wheelers loans and Rs 500 for four wheelers loans up to Rs 2 lakh. Four wheeler loans of over Rs 2 lakh are charged a fee of Rs 1000.
Highlights
New Car
Used Car
Loan Type
Term Loan
Term Loan
Ex-Showroom/On Road
On Road
On Road
Loan Amount
Min. - Rs 50000
Max. - Rs 85
Min. - Rs 50000
Max. - Rs 85
Tenure
Min. - 12 Yrs.
Min. - 12 Yrs.
Interest Rate
10.5 %
13.25 %
Time to Process Loan
7 days
7 days
Preferred Manufacturers
Chevrolet, FIAT, Ford, GENERAL MOTORS INDIA, HINDUSTAN MOTORS, Honda, Hyundai, Mahindra, Maruti, Mercedes-Benz, Mitsubishi, Nissan, Reva, SAN Engineering, Skoda, Tata Motors, Toyota
Chevrolet, FIAT, Ford, GENERAL MOTORS INDIA, HINDUSTAN MOTORS, Honda, Hyundai, Mahindra, Maruti, Mercedes-Benz, Mitsubishi, Nissan, Reva, SAN Engineering, Skoda, Tata Motors, Toyota