Many middle class family people in India wish to buy a car. But in the absence of sufficient funds, it becomes difficult to buy a car. But if you dream of buying a car, then you do not need to worry, because City Union Bank provides you the facility of car loan. In this article, we will tell you how to take a car loan from City Union Bank? Not only this, we will also provide you information related to its Interest Rate, Eligibility Criteria, Required Documents, Online Apply Process.
How To Take Car Loan From City Union Bank?
If you want to get a car loan from City Union Bank, then you have to go through some process for this. If you follow this process, then you can be provided car loan by the bank very easily. If you are going to take a home loan from City Union Bank, then you are given an application form, in which some important information is asked from you.
Along with this, some important documents are also required to take a car loan, which is required to be made available. After filling the application form, your application form and documents are verified by the bank. If all the information and documents given by you are found correct, then the amount of Car Loan is sent to your bank account.
What Is City Union Bank Car Loan?
Car loan provided by the bank is a loan using which the applicant can buy a car for himself. City Union Bank provides financial assistance to those people who are unable to buy a car due to financial constraints.
For your information, let us tell you that if you want to buy a second hand car, then City Union Bank does not provide you a loan for this. That is why if you want to take a loan for a new car, then only you should contact City Union Bank.
How much car loan can I take from City Union Bank?
If you do any self-employment or are a salaried employee, then you can apply for a car loan from City Union Bank. For your information, let us tell you that City Union Bank can provide you a car loan up to a maximum of ₹ 500000. You can get a car loan from this bank for a maximum tenure of 5 years.
Interest Rate of Car Loan given by City Union Bank:
The car loan offered by City Union Bank has an annual interest rate of 14.50%, in addition to this a processing fee of ₹ 700 or 1.25% of the loan amount is also charged. That is why before taking a car loan by the bank, you should do complete information about it so that later you do not have to pay any kind of extra fee.
Car from City Union Bank
Required Documents for taking loan:
If you want to get a car loan from City Union Bank, then for this you will need to provide the following documents.
The applicant must have a new passport size photograph.
To apply for a car loan, you must have a government recognized identity card.
For proof of age, you must have a birth certificate or a high school certificate.
For address proof, you must have any one document like Aadhar Card, Ration Card, Voter ID Card, Passport or Latest Electricity Bill.
If you do any employment of your own, then for this you must have Income Tax Return or Form-16.
If you are a salaried employee, then for this you must have the salary slip of the last 3 months.
City Union Bank Car Loan Eligibility Criteria:
City Union Bank has created certain eligibility criteria for providing car loans to its customers. This is explained below.
Any citizen of India can apply to get a car loan from City Union Bank.
To get a car loan, the applicant’s age should be between 21 years to 65 years.
The salary of the applicant must be at least ₹ 15000 per month. If you are a self employed professional then your annual income should be at least ₹ 150000.
It is necessary to be a citizen of India on the application of City Union Bank Car Loan.
How To Apply Online To Get Car Loan From City Union Bank?
If you want to apply online to get a car loan from City Union Bank, then for this you have to visit the official website of the bank and get all kinds of information related to it. City Union Bank provides you the facility to apply online for Car Loan, so you will not need to go to the bank and stand in line.
You can get all kinds of information about it by clicking on the link given below. Not only this, you can also fill the online application form to get a car loan by clicking on the Apply Online button through this link.
Hope you have liked the information given by us and by taking advantage of this information you will be able to get a car loan from City Union Bank. If you liked this article, then do share it with your friends and relatives. Don’t forget to bookmark our website to read similar loan related articles.