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  #1  
June 9th, 2015, 10:29 AM
Super Moderator
 
Join Date: Mar 2012
Union Bank of India Two Wheeler Loan

I want to get the Two Wheeler Loan from the Union Bank of India so please tell me about the interest rates on the Two Wheeler Loan? What is the eligibility required to get this loan from the Union Bank of India? Tell me the process to apply for this loan?

Union Bank of India provide Union Miles loan to customers for purchase of new or old (up to 3 years) four-wheeler or a new two-wheeler.

Union Miles Loan

ou can avail this special scheme to purchase of new or old (up to 3 years) four-wheeler, and you can also avail this loan to purchase a new two-wheeler.

Eligibility

Resident Indian citizen and Non-Resident Indians (NRIs) holding valid license

Minimum age - 18 years and maximum age - 70 years

Individual, either singly or jointly with other family members viz. father, mother, son, spouse or daughter as co-applicants

Companies / Firms for purchase of vehicle for usage by their Directors / employees

Quantum Of Loan

Maximum quantum of loan
New 4-wheeler Rs. 125 Lakh
Old 4-wheelers (not older than 3 years) Rs. 20 Lakh
New 2-wheeler Rs. 10 Lakh

Margin-

15 % of on-road price (Vehicle Cost + Registration Charges + Insurance + Road Tax)

40 % of old vehicle's valuation cost

Repayment-

Repayment period Maximum repayment tenure
New 4-wheeler 7 years
Old 4-wheelers (not older than 3 years) 5 years
New 2-wheeler 3 years

Prepayment Penalty-

There is NO prepayment penalty if the loan is adjusted by the borrower from his own verifiable legitimate sources

A penalty of 2% on the average balance of the preceding 12 months, if the loan is taken over by any other Bank /FI or adjusted by the borrower in lumpsum from any third source/party (except genuine sale).

Contact-

All-India Toll Free number : 1800 22 22 44 / 1800 208 2244

Charged Numbers : 080-25300175

Dedicated number for NRI : +918025302510

Last edited by Neelurk; June 29th, 2020 at 04:13 PM.
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  #2  
February 21st, 2017, 08:47 AM
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Re: Union Bank of India Two Wheeler Loan

I want to take loan from Union Bank of India to purchase new Two Wheeler so can you please provide me the details of loan?


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