United Bank of India Car Loan Approval Process

United Bank of India Car Loan Approval Process

United Bank of India Car Loan Features

United Bank of India Car Loan Approval Process

United Bank of India Car Loan Approval Process. United Bank of India is a wholly-owned subsidiary of Punjab National Bank. UBI was the result of the merger in 1950 of four Bengali banks. It has its headquarters in Kolkata. It has 36 regional offices and 2054 branches spread across India but its majorly present in Eastern India.

  • Borrower age should be between 21 years to a maximum of 70 years.
  • The maximum vehicle loan amount offered by the United Bank of India is up to 85% of the on-road price.
  • Interest rates start at 8.60% p.a depending upon down payment, net income and other factors.
  • The bank issues car loans for new cars as well as used cars.
  • The car loan tenure can range from 1 year to 7 years based on the borrower’s repayment capacity and financial requirements.
  • Minimal documentation is required by banks and financial institutions.
  • The loan is available for both salaried and self-employed.
  • Borrowers within the age group of 21 and 70 years.
  • Maximum loan tenure of 7 years.

United Bank of India Car Loan Eligibility

 

United Bank of India Car Loan Documents Required

 

United Bank of India Car Loan Approval Process

The United Bank of India Bank Car Loan Approval Process is simple and easy to complete, the process includes the following steps –

  • You can apply for a car loan by visiting the bank’s website or by visiting the bank’s local branch office.
  • While applying online, make sure to include all the necessary information and submitting the required documents.
  • The bank evaluates your eligibility and verifies the documents submitted, based on that the loan is approved.
  • If the eligibility criteria are met and the documents are correct, the loan is approved.
  • Then, the amount is deposited in the borrower’s bank account.

FAQs on United Bank of India Car Loan Approval Process

 What factors determine my EMI?

Factors such as the loan amount, the loan tenure and the interest rate affect the EMI to be paid by you on the principal amount. Visit Dialabank for more information.

✅ Can I enlist a co-applicant while applying for a Car loan?

Yes, you can enlist a co-applicant to obtain a car loan. Enlisting co-applicant increases your car loan eligibility as the co-applicants income is also considered by the bank.

✅ Can I prepay my car loan?

Yes, lenders provide the option of prepayment on a car loan; however, some lenders may charge a prepayment penalty.