Avyud Finance facilitates Vehicle Loan from UCO Bank at better interest rates when the loan applicant can give a good amount of down payment for the car. The down payment is flexible and is decided by the borrower but the Bank always prefers a good part of the amount so that the interest rates or the EMI becomes significantly less and affordable.
₹
500000
36
months
10
%
Monthly EMI
₹
₹ 32,124.56
Total Interest
₹
10,622.78
Principal Amount
₹
500000
Payable Amount
₹
160,622.78
| Pay No. |
Begining Balance | EMI | Principal | Interest | Ending Balance |
|---|---|---|---|---|---|
| 1 | 150000.00 | 32124.56 | 28637.06 | 3487.50 | 121362.94 |
| 2 | 121362.94 | 32124.56 | 29302.87 | 2821.69 | 92060.07 |
| 3 | 92060.07 | 32124.56 | 29984.16 | 2140.40 | 62075.91 |
| 4 | 62075.91 | 32124.56 | 30681.30 | 1443.26 | 31394.61 |
| 5 | 31394.61 | 32124.56 | 31394.64 | 729.92 | -0.03 |
Minimum monthly take-home pay would be Rs.20,000/- at all centres after all statutory deductions and existing loans liabilities + EMI of the proposed loan.
Maximum loan limit 36 times of Gross Monthly Income.
Minimum Income criteria for Professionals & Self-employed Businessmen would be Rs 5. 00 lac p.a. in Metro Centres and Rs 4.00 Lacs p.a. in other centres as per ITR/ Assessment of ITR during the preceding year.
Maximum loan limit three times of average gross annual income for the last 2 years.
Minimum Gross Income of Rs. 4.00 lacs p.a. during the previous financial year. Farmers having land holding in their own name.
Maximum loan limit: Three times of Annual Income of the previous financial year.
Business concern must be in profit for the last 2 years and cash flow during the currency of loan must be sufficient enough to repay the proposed vehicle loans after satisfying all existing liabilities if any.
Minimum age 21 years & Maximum age up to 70 years including repayment period. The UCO Bank vehicle loan aims to ensure that you drive around the city in your vehicle! Choose a pre- approved vehicle loan to get the best interest rates. Before applying for a car loan online, use the vehicle loan EMI calculator to calculate your EMI. Apply for a UCO Bank for a car vehicle loan to make your dream of owning a car a reality.
UCO Bank car loan is the loan sum provided to its customers by the bank for a new or used car.
You can directly approach the UCO bank, log on to their website and apply online or apply through Avyud Finance.
When you apply for a car loan, then you will get a call from our representative and then, there will be a document verification process. Then, the loan amount will be credited to your account.
Loan can be repaid in a maximum of 84 months for new cars and maximum of 36 months for old cars.
New car loan borrowers have to bring in 15% as the loan margin.
Note: This content is taken from UCO Bank website
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