United Bank of India NRI Car Loan

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United Bank of India NRI Car Loan

United Bank of India NRI Car Loan

The demand for car loans from non-resident Indians has risen considerably, according to research. This has been connected to two key factors: a desire to hunt for high-end autos and, as a result, an increase in visitors to India. An NRI is an Indian citizen who lives and works in another country as a salaried skilled worker or as a freelancer.

United Bank of India NRI Car Loan Interest Rates 

United Bank of India NRI Car Loan Features

  • Amount of loan: The amount of a loan that can be approved is determined by the bank involved.United Bank of India NRI Car Loan
  • Loan to worth (LTV): LTV is the magnitude relationship between the loan amount that can be borrowed from the bank and the particular value of the car or its ex-showroom value. Most banks lend 85-100 per cent of the vehicle’s ex-showroom value.
  • Tenure: Tenure of loan ranges between five to seven years, from the date of purchase of the car.
  • Interest rate and alternative charges: There is no difference in the rate of interest for NRI vehicle loans and resident Indian car loans.
  • Documentation: Documents will be submitted in a bank office in your home country, or they may be delivered electronically or through your co-applicant.

Customers having any query related to Baroda Gujarat Gramin Bank NRI Car Loan can contact Dialabank at any time.

United Bank of India NRI Car Loan Eligibility

United Bank of India NRI Car Loan Documents required

United Bank of India NRI Car Loan with Dialabank

Choose DialaBank to apply for the United Bank of India NRI Auto Loan since it allows you to compare all money products and study various car loan solutions available in the market with just one click. DialaBank is your best bet when it comes to getting an auto loan because:

  • We are India’s first money helpline, and we have a long history of excellent service.
  • We supply you with the simplest online Car Loan schemes available in the industry based on your demands and assist you in selecting the best deal for you.
  • We provide you with a doorsill delivery and pickup service for your documents, saving you time and effort.
  • We provide you with the most straightforward Car Loan providers’ offers and programmes, which you can compare against a wide range of criteria.

FAQs on United Bank of India NRI Car Loan

✅ What will happen if I am not able to pay 1 month of EMI?

Defaulting on EMIs will lower one’s CIBIL Score and make it more difficult to obtain another vehicle loan in the future. If an EMI is not paid for 30 days after the due date, banks or NBFCs normally apply a penalty of 1-2 per cent of the EMI.

 Can NRI purchase an automobile in India?

In the Republic of India, there are no restrictions on NRIs buying a car (or cars).

✅ What’re the criteria for the current interest rate on car loans?

The current interest rates on car loans range from 6.50 per cent to 20.00 per cent. The United Bank of India now has the lowest auto loan rate, which is 6.50 per cent.