Union Bank of India Car Loan in Purnea, Bihar

Buying a Car of your choice is one of the most rewarding decisions in life and it becomes easier when you have reliable financial support. Avyud Finance facilitates Car Loan from Union Bank of India. Union Bank of India Car Loan EMI consists of principal payment and interest payment. In the whole repayment period, EMI remains constant but the interest component on loan keeps decreasing while principal component keeps increasing apart from change in interest rate on 2 wheeler loan.

Union Bank of India Car Loan Important Information

• Loan can be availed by individuals for personal use:


• Purchase of New 4-Wheeler


• Purchase of Old 4-Wheeler, not older than 3 years


• Purchase of a New 2-Wheeler


• Loan can also be availed by Companies / Firms for professional use i.e. purchase of Car for usage by their Directors / employees.

Eligibility Criteria for Union Bank of India Car Loan

• Resident Indian citizen and Non-Resident Indians (NRIs).


• Minimum age - 18 years and maximum age - 75 years.


• Individual, either singly or jointly with family members.


• Companies / Firms for purchase of Cars for usage by their Directors/employees.

Documents Required for Union Bank of India Car Loan

• No guarantee required for individual borrowers with CIBIL score of 700 and above.


• Guarantee of a local resident Indian having means equivalent to loan amount, is to be provided by the NRI applicant.


• In case of companies guarantee of the promoter/director is required.


• In case of a partnership firm, guarantee of all the partners is required.

Fees & Charges for Union Bank of India Car Loan

• Processing Fee Rs.1,000 + GST


• Prepayment Charges NIL


• Interest Rate 7.40% p.a. to 10.50% p.a.