|Loan Name||Interest Rate||Processing Fee||Loan Amount||Tenure|
|Union Bank of India Car Loan||9.20%, Fixed||0.50% of loan amount (maximum of Rs 15,000+ service taxes as applicable)||maximum of Rs 125 lakhs||7 Years|
For Salaried Individuals
For Business Class
Q: What is the car loan interest rate offered by Union Bank?
A: As per current interest rates, Union Bank car loan interest rates are in the range of 8.70%.
Q: Should I have an account with Union Bank for availing a car loan?
A: Although having an account with Union Bank is not necessary for availing a car loan, it is recommended so that the customer can benefit from value-added services that come with a Union Bank account.
Q: What are the options to repay the car loan provided by Union Bank of India?
A: A Union Bank car loan borrower can pay the Equated Monthly Installments (EMIs) in one of the following ways :
Q: Can I add my spouse's income while applying for a car loan from Union Bank of India?
A: Yes, you can combine your income with the income of your spouse to increase your loan eligibility and to get a higher loan amount.
Q: How much time does Union Bank of India take to approve a loan application?
A: If you have submitted all the required documents correctly to the bank, the Union Bank of India takes 2 days time period to sanction or approve the car loan application.