#1
July 28th, 2016, 12:35 PM
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Union Bank of India Vehicle Loan
Hello sir I am here as I want to get the information related to Union Miles Vehicle Loan Scheme of Union Bank of India so will you please provide me the information??
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#2
July 28th, 2016, 02:26 PM
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Re: Union Bank of India Vehicle Loan
Hey!! Union Bank of India can fulfill your dreams of owing a vehicle by availing Union Miles. You 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 Criteria A person has to meet the following criteria to avail the loan: -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 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 Security -Hypothecation of vehicle purchased out of Bank's finance -Bank's lien to be noted with the Raod Transport authorities Guarantee -Guarantee of the spouse is required. -In case borrower is unmarried, 3rd party guarantee of sufficient means -In case of NRIs guarantee of one/two local resident Indian of sufficient means is required -In case of companies guarantee of one promoter/director is required. |
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