United Bank of India Two wheeler Loan

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United Bank of India Two wheeler Loan

United Bank of India Two Wheeler Loan Key Features

United Bank of India 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 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 United Bank of India Two Wheeler Loan

United Bank of India Two Wheeler Loan has become essential for an individual to fulfil his dream of buying a new bike at any cost with any financial resource. United Bank of India is providing the opportunity of a lifetime by providing Two Wheeler Loans with Lowest Interest Rates & Affordable EMIs.

Advantages of United Bank of India Two Wheeler Loan United Bank of India Two wheeler Loan

  1. Easy and hassle-free process
  2. Quick Disbursal of Loan Amount
  3. Fulfil your wants by choosing the Two Wheeler you love
  4. Attractive Rate of Interests
  5. Easy Repayment and Prepayment Method.

Apply For Two Wheeler Loan

Compare Bike Loan Interest Rates of United Bank of India with other banks

Bank Two Wheeler Loan Interest Rates Lowest EMI Per ₹ 10 Thousand For Max Tenure
Axis Bank 10.85% ₹ 217 for 5 years
SBI 16.05% ₹ 352 for 3 years
HDFC Bank 9.10% ₹ 249 for 4 years
PNB 9.55% ₹ 210 for 5 years
Bajaj Auto Finance 13.26% ₹ 338 for 3 years
IndusInd Bank 21.00% ₹ 377 for 3 years
Allahabad Bank 10.40% ₹ 214 for 5 years
Andhra Bank 9.90% ₹ 212 for 5 years
Bank of India 7.45% ₹ 200 for 5 years
Union Bank of India 9.90% ₹ 322 for 3 years
United Bank of India 9.55% ₹ 210 for 5 years
Corporation Bank 9.90% ₹ 322 for 3 years
Indian Bank 10.40% ₹ 214 for 5 years
Karnataka Bank 8.48% ₹ 205 for 5 years
Jammu And Kashmir Bank 8.70% ₹ 206 for 5 years
Canara Bank 9.00% ₹ 318 for 3 years

How to avail of two-wheeler loans?

Choose a Two-Wheeler Loan

  • Choose the two-wheeler loan form and brand that best fits your needs. United Bank of India provides Super Bike Loans if you want anything more than a normal bike.
  • When you apply online, the bank will send a representative to your home to complete the paperwork, so you won’t have to wait in long lines.
  • You will save up to Rs. 12,500 as a result.
  • But that’s not the end of the storey. The advantages of a United Bank of India two-wheeler loan are numerous.
  • The interest rate is 2% lower for United Bank of India account holders.
  • You can choose from a 12-month to 48-month repayment period.
  • Your loan will be approved right away, which means you won’t have to wait long to get your dream vehicle.

Check Eligibility

  • In less than two minutes, you can confirm your loan eligibility. Before you begin your loan application, check your eligibility for a Two Wheeler Loan by following these simple measures.
  • The eligibility requirements are listed here, and they include the applicant’s minimum gross income, age limit, and residency status, among other things.
  • After selecting the ‘check eligibility’ choice, you will be directed to a login page.
  • You can log in using your Customer ID and verification code if you already have a United Bank of India account. If you don’t have a verification code, you can always log in with your phone number and a verification code sent to your phone.
  • For United Bank of India account holders, a pop-up window may appear informing them of a potential loan amount and tenure option. You will most likely borrow up to six times your annual income in the majority of cases. You can choose to ignore this choice if it does not meet your requirements.

Calculate the EMI on your two-wheeler loan.

  • You’ll find out how much and for how long you’ll have to pay an EMI on your loan after an eligibility review.
  • The United Bank of India Two Wheeler Loan EMI Calculator can be found here.
  • Fill out your personal and financial details, as well as the vehicle model and estimated costs.
  • Make the required changes to get the best EMI.

Online applications are accepted.

After you’ve completed your studies, go to the United Bank of India Two Wheeler Loan website and fill out an application. You will be expected to provide personal and financial information. You’ll also have to include information about the car, such as the RTO, the name of the dealer, and the on-road price. You’ll know the status of your Two-Wheeler Loan application in under 15 minutes since the entire approval process is digital.

Submit documents

The reporting procedure at the United Bank of India is the simplest and most straightforward.

Factors Affecting Two-wheeler Loan Application

  • Credit Score – On a scale of 900, credit rating agencies award you a grade, with anything over 750 considered satisfactory. Your credit score assists the lender in determining your creditworthiness and whether you are a responsible borrower. Make sure you have a decent credit score before applying for a low-interest bike loan. This will demonstrate to the lender that you are able to repay the loan.
  • Loan Amount – Most financial institutions will lend you up to 85% of the vehicle’s current on-road price. Simply put, the larger the loan, the more costly your bike would be. As a result, the interest rate will increase as well. You can easily calculate your monthly payments with a bike loan.
  • Loan Tenure – A lender can charge you a high rate of interest to justify the risk and cover their losses in the event of a default. As a consequence, if you want a lower interest rate, go for the shorter-term loan. When you get your two-wheeler home, you can use a bike loan EMI calculator to find out how much you’ll have to pay per month.
  • Dealership – Depending on whether you pay a higher or lower interest rate, the loan amount you apply for can vary depending on the dealership location. As a result, if you want a bike loan with a lower interest rate, do your research and choose a dealership with a slightly lower bike price.
  • Secured vs. Unsecured Loans – You will have the choice of choosing between the two types of loans or just one, depending on the lender. Furthermore, interest rates vary depending on the type of loan you select. Unsecured loans have a higher interest rate than secured loans on average because the former is riskier.

United Bank of India Two Wheeler Loan Eligibility

Your ability to repay the loan is the biggest factor in deciding whether you’ll be eligible or not for the United Bank of India two-wheeler loan. The following are the major criteria’s: 

  • The applicant should be of at least 21 years of age and a maximum of 65 years of age to apply for the loan. 
  • If you have an average monthly income of Rs 7000 (salaried) and Rs 6000 (self-employed), you’re eligible for the United Bank of India two Wheeler loan.
  • Cibil Score has a direct impact on your eligibility for the loan. If you have a high Cibil score, you can get the approval for the loan easily. 

Click here to know more about Two Wheeler Loan Eligibility

United Bank of India 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

To check Two Wheeler Loan Interest Rate for all major banks you can visit: Two Wheeler Loan Interest Rate

United Bank of India Two Wheeler Loan Documents Required

Salaried Individual

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

Self-Employed Individual

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

Click here to know more about Two Wheeler Loan Documents Required

United Bank of India Two Wheeler Loan EMI Calculator

The applicant has the option to know the EMI’s before availing United Bank of India Two Wheeler Loan. Thus, you can easily check through the link below:

Two Wheeler Loan EMI Calculator

United Bank of India Two Wheeler Loan Types

United Bank of India offers multiple types of loans to its customers and you have the option of choosing one of them as per your requirements. You have the following two options:

  1. Two Wheeler Loan – If you wish to buy a two-wheeler and wish to finance it then United Bank of India has the best offer for you. You can avail this loan at an attractive interest rate of 12%.
  2. Super Bike Two Wheeler Loan – If you’re planning to buy a Superbike and are looking for funds, then this is the best deal available for you at an attractive interest rate of 11.83%.

United Bank of India 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 United Bank of India Two Wheeler Loan

You can apply for the United Bank of India Two Wheeler Loan online by visiting Dialabank’s digital platform and then : 

  1. Fill the basic Application Form for Two Wheeler Loan
  2. Please wait for a call from our Relationship Manager
  3. Get personalised assistance and choose the most suitable offer based on your needs. 
  4. Enjoy your Two Wheeler. 

United Bank of India Two Wheeler Loan for Top Selling Bikes

Other Available Products from United Bank of India 

UBI Personal Loan UBI Gold Loan UBI Home Loan
UBI Credit Card UBI Car Loan UBI Education Loan

FAQs for United Bank of India Two Wheeler Loan

✅ What is the United Bank of India Two Wheeler Loan?

Union Bank of India Two Wheeler Loan is intended to provide financial help to the customers facing sudden expense issues to finance their Two Wheeler. Union Bank of India Bank provides high standard service, innovative benefits, and affordable instalments (EMIs) facilities to the customer.  

✅ How can I get a Two Wheeler Loan from the United Bank of India 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).

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

✅ How does Union Bank of India Two Wheeler Loan work?

Visit the Bank website or branch office and do the following

  • Submit the signed loan application form
  • Attach Photographs
  • Income Tax PAN Copy
  • Identity Proof – Driving License/ PAN/ Passport/ Voter ID
  • Address Proof – Registered Rent Agreement/ Passport/ Leave and License/ Utility Bill
  • Income Documents – Form 16, last 3 months payslip, bank statement of 3 months showing salary credit and any EMI debit

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

Union Bank of India offers interest for Two Wheeler Loan starting at 12.35% per annum and can go up to 13.15%. The rates are expected to fluctuate depending upon the loan factors.

✅ How to check the Two Wheeler Loan status in Union Bank of India?

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 Union Bank of India?

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

✅ What is the maximum loan amount I can avail myself of on a Two Wheeler Loan from Union Bank of India?

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

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

Minimum – 12 Months.

Maximum – 36 Months.

✅ Can I get a 100% Two Wheeler Loan from Union Bank of India?

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

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

Union Bank of India charges a Processing Fee of 0.50% of the total loan amount or a minimum of Rs.500.

✅ What are the EMI options available on the United Bank of India Two Wheeler Loan?

United Bank of India allows the customers to pay the EMIs 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 United Bank of India Two Wheeler Loan?

United Bank of India does not charge any fee for the prepayment of the loan.

✅ Can I get a top-up loan on my existing United Bank of India 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 the United Bank of India?

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 United Bank of India Two Wheeler Loan Statement?

  • Visit the United Bank of India 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 United Bank of India Two Wheeler Loan Interest Online?

Customers can pay the interest amount on the United Bank of India website. To do so

  • Visit the United Bank of India 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 the United Bank of India Two Wheeler Loan for 3 months?

United Bank of India 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 United Bank of India Two Wheeler Loan?

Customers can apply for the EMI moratorium by contacting the bank.

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

✅ What is the number for the United Bank of India Two Wheeler Loan agent?

We at Dialabank are keen to provide you assistance for the United Bank of India Two Wheeler Loan, you can reach out to us at 9878981166.

✅ Can I close the United Bank of India Two Wheeler Loan online?

There are multiple ways through which you can close the United Bank of India 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 the United Bank of India Two Wheeler Loan Customer Care Number?

United Bank of India Customer Care representatives can be contacted at 1800 425 2407.

✅ How can I get NOC from the United Bank of India 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.

News

2021-07-18:

Two-wheeler dealers fear default on loan repayment as inventory levels rise:
Sales are impacted by Covid’s second wave and subsequent lockout. Due to the second wave of Covid and the subsequent lockdown, two-wheeler inventory levels have risen at dealerships.

2021-06-20:

AU Small Finance Bank’s Q4 net profit increased by 38% to Rs 169 crore:
The net profit of AU Small Finance Bank increased by 38 per cent to Rs 168.98 crore in the last quarter of the fiscal year 2021. Retail loans such as home, personal, LAP, two-wheeler, vehicle, school, and doctor loans, as well as deposits such as fixed and recurring deposits, boosted profit. In the fourth quarter of FY21, total revenue increased to Rs 1,569 crore, up from Rs 1,366.60 crore in the previous quarter. Interest income increased to Rs 1,292.37 crore in the quarter under review, up from Rs 1,183.45 crore the year before.
On April 27, 2021, bank credit increased by 5.33 per cent, while deposits increased by 10.94 per cent.

2021-05-27:

Credit to banks increased by 5.33 per cent, while deposits increased by 10.94 per cent:
Bank credit, which includes retail loans such as a house, LAP, personal, two-wheeler, auto, school, and doctor loans, as well as business and mudra loans, increased by 5.33 per cent to Rs 108.89 lakh crore, according to the Reserve Bank of India. Fixed and recurring deposits increased 10.94 per cent to Rs 152.15 lakh crore.

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