Purpose : For Purchase of New / Old Car
Eligibility Criteria :
For Salaried Person :
For Businessman and P& SE :
Quantum of Loan :
Rate of Interest :
Security : Hypothecation of the vehicle to be purchased out of loan
United Car Loan (Floating rate) (for salaried, P& SE & Business people)
Upto 84 months (For pensioners Max 72 months)
MCLR-Y+0.30% i.e. 9.00% p.a.
Max 60 months (For pensioners Max 48 months)
MCLR-Y+1.05% i.e. 9.75%
Concession: Collateral of 50% of loan value will entail 0.25% concession in interest rate
from card rate. Collateral must be in the form of liquid or other tangible security.