Union Bank slashes interest rates on auto loans
By Vaibhav Aggarwal
Aug 31, 2012
Print    Email    RSS   

The Mumbai based Union Bank of India has reduced its interest rates on vehicle loans from 12.50 percent (for loans up to three years) and 13.50 percent (for loans of 3 to 5 years) to 10.95 percent for loans having tenure of up to 7 years.

As a part of its ‘Independence Day to Republic Day Festive Offer' the public sector bank has also cancelled the processing fee charges on auto loans.

Additionally, for the festive offer, the bank is also providing home loans on floating rates of 10.50 percent for loans till Rs. 30 lakh; 10.75 percent for loans ranging from Rs. 30 lakh to Rs. 75 lakh and 11 percent for loans from Rs. 75 lakh to Rs. 5 crore. For the home loans segment also, the bank is not charging any processing fees.

Explaining the reason for slashing its interest rates, the Chairman and Managing Director of the bank, Mr. D. Sarkar said that the interest rate cut and the festive offer will help the bank to grow its retail loan products.

(Comments Posted : 1) Post Your Comments
1. Hello I am so excited I found your web site, I really found you by error, while I was researching on Digg for something else, Nonetheless I am here now and would just like to say thank you for a marvelous post and a all round exciting blog (I also love the theme/design), I don't have time to look over it all at the minute but I have book-marked it and also included your RSS feeds, so when I have time I will be back to read much more, Please do keep up the excellent job.|
pay day uk
exexualewly (Posted: Mar 25, 2013)
Show All Comments
 Select a product:

 Select a product:

A chronicle of excesses by loan recovery...
Carnival of Indian Personal Finance Blogs #3
Credit profile and its effect on loan...
Manage your loans, avoid recovery agents
Effect of employment on loan eligibility...

Wickr ID :::gblghl2'''''GBL Wheel Cleaner for Sale...
Hello I am looking to renew my car insurance and I...
my loan no

SBH bank extended its Car and gold loan campaign till 31st March, 2015. Feb 11, 2015
KVGB bank signed MOU with TATA Motors Feb 10, 2015
SBH bank extended its scheme offering concession to loan defaulters Feb 2, 2015
Karnataka Bank tied up with TVS motors to Assist Auto rickshaw buyers Jan 27, 2015
RBI extended the Directions issued to Amanath Co-operative Bank for a period of six months Jan 22, 2015
News Archive