UNION Car Loan EMI Calculator – Features and Benefits

UNION Car Loan EMI Calculator – Features and Benefits

Union Bank of India with its headquarters in Bombay, now referred to as Mumbai, was created on 11 November 1919. In 1921, Mahatma Gandhi, the nation’s founder, opened the Bank’s Head Office in Mumbai. Many innovative products are developed with the technology platform, offering customers a range of choices to speed up transactions and make them more convenient.

Planning for Car Loan?


Want to calculate the car loan? Using this tool to determine how much you pay every month in EMI for purchasing the dream car. It’s used for the SUV, MUV, Used Vehicle, New Car, etc.

Also, Check – Home Loan Calculator – Interest Rates of Top Banks


New Car Loan:

Loan Tenure Up to 7 years
EMI ₹ 1,589 per lakh
Loan Amount Up to 85% of the on-road price
Prepayment Charges Own sources – Nil

Loan takeover – 2%

Interest Rate 8.60%

Used Car Loan: 

Loan Tenure Up to 5 Years
EMI ₹ 2,056 per lakh
Loan Amount Up to 50% of market value
Prepayment Charges Own sources – Nil

Loan takeover – 2%

Interest Rate 11.60%

Steps to Apply for a Car Loan from Union Bank of India:


  • Phase 1: Access the official website of the Union Bank of India.
  • Phase 2: Go to category “Products.”
  • Phase 3: Under the “Loans” section click on “Retail.”
  • Phase 4: Select “Union Miles.” option
  • Phase 5: You will be redirected to the car loan page upon clicking the “Online Application” option.
  • Phase 6: Tap on “Apply Online”
  • Phase 7: you will be redirected to a new page where either “New User” or “Existing User” will be chosen.
  • Phase 8: When you click on the “New user” tab, you would have to fill in the specifics and form of loan you were searching on another page.
  • Phase 9: Select “Apply” to finish the process.
  • Phase 10: If you are a current customer, you will have a key for completing the application in the guide and mobile number.

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Union Bank Car Loan Calculator:

Union Bank of India’s Car Loan EMI is a fixed sum that you pay annually on your car loan before the term expires. It is a fixed rate. The Union Bank of India gives the lowest EMI of rs. 1,589 lakh of the loan at the lowest interest rate of 9.25% on car loans.

Currently, interest rates on banks’ car loans vary from 8.75 to 13.5%, so you might also compete with a better deal if the credit profile is good. This car loan calculator can allow you to calculate the amount of the Equated Monthly Payment (EMI) whether you intend to apply for a car loan. Only provide the amount of your car loan, the loan term, and your Car Loan Interest Rate. The Union Bank of India Car Loan EMI relies on such factors as:

  • Interest rates are an important aspect impacting the EMI. Increased the interest rate would be higher for the EMI.
  • Tenure of loan matters in the same manner that your monthly EMI is limited per lakh.
  • The amount of the loan is also a major factor on your EMI

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