City Union Bank Two Wheeler Loan

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City Union Bank Two Wheeler Loan Key Features

City Union Bank Two Wheeler Loan Interest Rate 11.83%* per annum
Min Loan Amount ₹ 10,000
Max Loan Amount
(Loan to Value)
Loan up to 90% of On Road Price
or 100% of Ex-showroom Price
Loan Tenure 1 year to 4 years
Lowest EMI / Lac ₹ 2,625
Minimum Net Monthly Income Salaried – ₹ 7,000, Self Employed – ₹ 6,000
Age Criteria 21 years(At Application) to 65 years(At Loan Maturity)
Types of Vehicle For All New Two-Wheelers (Bikes, Superbikes, etc.)
Processing Fee Up to 3% of the Loan Amount.
Foreclosure Charges 3% – 10% Based on the time of foreclosure ( Foreclosure not allowed during the first 3 months)
Basic Documentation ID Proof, Address Proof, Bank Statement

About City Union Bank Two Wheeler Loan

The bike and two-wheeler manufacturing industry in the country has seen drastic development in the last ten years and it continues to escalate. Two-wheelers in India comprehend a predominant part of the country. Though it is a convenient and preferred means of transport, it is still not reachable for the majority of the middle-class families to buy one by paying its whole price in one time. Hence, two-wheeler loans provide help here. But even those who can afford more than one car opt for two-wheelers to navigate in and out of heavy city traffic.

Advantages of City Union Bank Two Wheeler LoanCity Union Bank Two Wheeler Loan

  1. City Union Bank Two Wheeler Loan is allowed only for two-wheelers and not for second-hand vehicles.
  2. Calculate the salary of 10 months or INR 35,000/- is the maximum two-wheeler loan sum offered by City Union Bank.
  3. The customer can add their spouse’s income and make him/ her as co-applicant, to meet the eligibility criteria as mentioned above
  4.  The interest rate is 11.83 per cent
  5. Hypothecation of two-wheeler to be bought is kept as security/collateral.
  6. Together with the loan applicant, the partner or maybe someone else who fulfils the eligibility criteria as per the Scheme to stand as co-applicant
  7. You are expected to settle the loan in a maximum time period of 36 months as EMIs.
  8.  All-inclusive insurance cover is to be acquired at the price of the applicant as per the loan clause.
  9. The bank will charge processing fees at one per cent of the entire loan sum in City Union Bank Two Wheeler Loan.
  10. The approved loan sum will be shelled out to the seller/provider directly.

City Union Bank Two Wheeler Loan Eligibility

  1. Bank provides funds for purchasing of two-wheelers i.e. Scooters, Motor Cycles, Mopeds, and Battery-Operated Scooters etc. of any model.
  2. The applicant should be at least 21 years old or above.
  3. The maximum age limit is 65 years for two-wheeler loan from City Union Bank.
  4. The applicant must be salaried or can be a self-employed individual and should be working for at least two years (36 months).
  5. The customer can get up to INR 350000 of financing on-road price of the vehicle or 10 times of their monthly income.
  6. The loan can be repaid within a maximum period of 36 months
  7. 10% of the marginal cost of the vehicle
  8. Hypothecation of Two-Wheeler to be purchased.
  9. 1.25% of the loan amount processing fee is charged or a minimum of INR 750.

City Union Bank Two Wheeler Loan Interest Rate, Fees and Charges

Interest Rate Starts at 11.83% p.a.
Processing Fee Up to 3% of the loan amount (maximum)
Prepayment Charges From 3% to 10% of the outstanding principal
Pre-payment charges Within 4 to 6 months – 10% of principal outstanding
Within 7 to 12 months – 6% of principal outstanding
13-24 months – 5% of principal outstanding
Post 24 months – 3% of principal outstanding
Prepayment is not allowed within three months of EMI repayment

City Union Bank Two Wheeler Loan Documents Required

1. Salaried Candidate

Category Documents Required
Identity Proof(Any 1) Driving Licence
Aadhaar Card
Passport
Voter ID
Address Proof(Any 1) Driving Licence
Aadhaar Card
Passport
Voter ID
Compulsory Documents PAN Card
Bank Statement Bank statement of last 3 months

2. Self-Employed Customers

Category Documents Required
Identity Proof(Any 1) Driving Licence
Aadhaar Card
Passport
Voter ID
Address Proof(Any 1) Driving Licence
Aadhaar Card
Passport
Voter ID
Required Documents PAN Card
Bank Statement Bank statement of last 3 months

City Union Bank Two Wheeler Loan EMI Calculator

The borrower has the ability to learn the EMI’s prior to the use of City Union Bank Two Wheeler Loan. 
 
You can therefore quickly confirm through the link below:
 
 

City Union Bank Two Wheeler Loan Types

City Union Bank provides various types of loans to its clients and you’ll have the option of selecting one of them according to your needs.

We have mentioned two choices:

Two Wheeler mortgage –

If you want to purchase a two-wheeler and want to finance it, then City Union Bank has the highest offer for you.

You will use this loan at a reasonable interest rate of 11.83%

Super Bike Two Wheeler Loan –

If you’re considering buying a Superbike and are looking for money, then this is the best offer available to you at an enticing interest rate of 11.83 per cent.

City Union Bank Two Wheeler Loan Pre Calculated EMI

Rate 4 yrs 3 yrs 2 yrs 1 yr
11.83% 2625 3313 4699 8876
12.00% 2633 3321 4707 8884
12.50% 2658 3345 4730 8908
13.00% 2682 3369 4754 8931
13.50% 2707 3393 4777 8955
14.00% 2732 3417 4801 8978
14.50% 2757 3442 4824 9002
15.00% 2783 3466 4848 9025
15.50% 2808 3491 4872 9049
16.00% 2834 3515 4896 9073
16.50% 2859 3540 4920 9096
17.00% 2885 3565 4944 9120

How to Apply for City Union Bank Two Wheeler Loan

  1. Users can register for City Union Bank Bank Two Wheeler Loan online or visit the Dialabank Digital Platform and then:
  2. Fill out the standard application form for two-wheeler loans
  3. Patiently hold for our Partnership Manager to call. Or you can contact us at 9878981166
  4. Get customized assistance and select the most appropriate deal depending on your needs.

City Union Bank Two Wheeler Loan for Top Selling Bikes

Other Available Products from City Union Bank 

City Union Bank Personal Loan City Union Bank Gold Loan City Union Bank Home Loan
City Union Bank Credit Card City Union Bank Two Wheeler Loan City Union Bank Education Loan

FAQs for City Union Bank Two Wheeler Loan

✅ What is City Union Bank Two Wheeler Loan?

City Union Bank Two Wheeler Loan is intended to provide financial help to the customers facing sudden expense issues to finance their Two Wheeler. The main purpose of the loan is to help the deposit holders to get financial help against their deposit at the time of need.

✅ How can I get a Two Wheeler Loan from City Union Bank? 

  • The age of the applicant should be between 21 and 65 years.
  • Applicants must have a stable income(Differs for salaried and self-employed customers).

The two-wheeler loan shall be allowed only for new bikes or two-wheelers and not for second-hand ones.

You can also visit Dialabank to get assistance to apply for the City Union Bank Two Wheeler Loan.

✅ How does City Union Bank Two Wheeler Loan work?

Visit the Bank website or branch office and submit the following

  • Completed loan application
  • 3 Passport size photographs
  • Proof of identifying (photocopies of Voters ID card/ Passport/ Driving license/ IT PAN card)
  • Proof of residence (photocopies of recent Telephone Bills/ Electricity Bill)
  • Statement of Bank Account/ Pass Book for the last six months
  • Form 16/IT returns for the last two financial years for salaried employees
  • IT returns for the three years for self-employed professionals

✅ What is the Two Wheeler Loan interest rate in City Union Bank?

City Union Bank  offers interest for Two Wheeler Loan starting at

  • Base Rate is 10.75 per cent
  • Base Rate plus 7.0% (17.75%)

The rates are expected to fluctuate depending upon the loan factors.

✅ How to check Two Wheeler Loan status in City Union Bank?

To check the loan status you can do any of the following:

  • Visit the Bank’s Branch Office.
  • Check online on the Bank’s website.
  • Contact customer care.

✅ How to calculate the Two Wheeler Loan interest in City Union Bank?

To calculate the interest rate for City Union Bank Two Wheeler Loan visit Dialabank.

✅ What is the maximum loan amount I can avail on Two Wheeler Loan from City Union Bank?

City Union Bank offers to pay approximately pay 75% of the on-road price of the Two Wheeler. The maximum amount allowed for a two-wheeler loan Rs 1 Lakh.

✅ What is the Loan tenure of City Union Bank Two Wheeler Loan?

Minimum – 12 Months.

Maximum – 36 Months.

✅ Can I get 100% Two Wheeler Loan from City Union Bank?

No, City Union Bank can only fund 75% of the on-road price of the vehicle.

✅ How much processing fee is applicable to City Union Bank Two Wheeler Loan?

City Union Bank will charge you a processing fee at one per cent of the entire loan sum. But everything is so transparent as there are no veiled charges.

✅ What are the EMI options available on City Union Bank Two Wheeler Loan?

City Union Bank allows the customers to pay the EMIs (36 Maximum) through two modes.

  1. Online Payment
  2. Post-dated cheques (PDCs)

Online payment is one of the safest and easiest modes of payment as the customer needs not to submit PDCs in a timely manner.

✅ What are the charges for Prepayment in City Union Bank Two Wheeler Loan?

City Union Bank does not charge any fee for the prepayment of the loan.

✅ Can I get a top-up loan on my existing City Union Bank Two Wheeler Loan?

Yes, you can get a new loan on your existing Two wheeler loan. The EMIs will be calculated according to the total amount of both the loans. You can also choose to keep the EMIs separate.

✅ Do I need to provide a guarantor to avail of a Two Wheeler Loan from City Union Bank?

A third person guarantor is not compulsory for the Two Wheeler Loan. However, if some conditions are not met a guarantor may be required.

✅ How to get City Union Bank Two Wheeler Loan Statement?

  • Visit the City Union Bank website and log in from your account
  • Check the loan status and download the statement
  • The statement can also be downloaded through a mobile application

✅ How to Pay City Union Bank Two Wheeler Loan Interest Online?

Customers can pay the interest amount on the City Union Bank website. To do so

  • Visit the City Union Bank site, log in, enter the amount, and select your bank.
  • Login to Your Bank’s Website Net Banking.
  • Confirm Payment.
  • Receive Confirmation.

✅ What if I can’t pay the interest on City Union Bank Two Wheeler Loan for 3 months?

City Union Bank provides the customers with the option to go for a moratorium in case they fail to pay interest for 3 months.

✅ How can I apply for EMI Moratorium on City Union Bank Two Wheeler Loan?

Customers can apply for the EMI moratorium by contacting the bank through:

  • SMS or e-mail.
  • The Bank’s website.
  • Visiting the nearest bank branch.

✅ What is the number for the City Union Bank Two Wheeler Loan agent?

We at Dialabank are keen to provide you assistance for City Union Bank Two Wheeler Loan, you can reach out to us at 9878981166.

✅ Can I close City Union Bank Two Wheeler Loan online?

There are multiple ways through which you can close the City Union Bank Two Wheeler Loan:

  1. Go to the bank website and apply for loan closure.
  2. Apply for loan closure through the mobile application.
  3. Visit the nearby bank branch.

✅ What is City Union Bank Two Wheeler Loan Customer Care Number?

City Union Bank Customer Care representatives can be contacted at 044 7122 5000.

✅ How can I get NOC from City Union Bank for Two Wheeler Loan?

Once your loan is closed, the bank will issue a NOC within 3 working days and send it on your registered Email Id. A physical copy of the NOC can also be issued as per the customer’s demand

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