The interest rates for Union bank of India vehicle loan is the sum of RBI repo rate, Spread and premium.
At present (wef 11 May 2022) - RBI repo rate is 6.50%. Union bank of India spread is 2.80%
The current interest rate for vehicle loans in Union bank of India is given below.
Type of vehicle
CIC score
Reference
Rate (D)
Premium
(E)
Effective ROI
(D+E=F)
New 4-Wheeler
800 & Above
EBLR
-0.45%
8.85%
From 750 - 799
From 731 - 749
0.20%
9.50%
From 700-730
& -1 & 1 to 5
0.50%
9.80%
From 650-699
1.00%
10.30%
below 650
1.20%
10.50%
New 2-Wheeler
700 & above
3.10%
12.40%
below 700
3.20%
12.50%
Old 4 - Wheeler (Not older than 3 years)
3.60%
12.90%
3.70%
13.00%
-0.55%
8.75%
From 750 – 799
0.10%
9.40%
0.40%
9.70%
0.90%
10.20%
1.10%
10.40%
2.90%
12.20%
3.00%
12.30%
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