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.
- UNION MILES: (Applicable from 29-08-2023 to 31-12-2023)
|
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
|
EBLR
|
0.20%
|
9.50%
|
|
From 700-730
& -1 & 1 to 5
|
EBLR
|
0.50%
|
9.80%
|
|
From 650-699
|
EBLR
|
1.00%
|
10.30%
|
|
below 650
|
EBLR
|
1.20%
|
10.50%
|
|
New 2-Wheeler
|
700 & above
|
EBLR
|
3.10%
|
12.40%
|
|
below 700
|
EBLR
|
3.20%
|
12.50%
|
|
Old 4 - Wheeler (Not older than 3 years)
|
700 & above
|
EBLR
|
3.60%
|
12.90%
|
|
below 700
|
EBLR
|
3.70%
|
13.00%
|
- UNION GREEN MILES: (Applicable from 29-08-2023 to 31-12-2023)
|
Type of vehicle
|
CIC score
|
Reference
Rate (D)
|
Premium
(E)
|
Effective ROI
(D+E=F)
|
|
New 4-Wheeler
|
800 & Above
|
EBLR
|
-0.55%
|
8.75%
|
|
From 750 – 799
|
|
From 731 - 749
|
EBLR
|
0.10%
|
9.40%
|
|
From 700-730
& -1 & 1 to 5
|
EBLR
|
0.40%
|
9.70%
|
|
From 650-699
|
EBLR
|
0.90%
|
10.20%
|
|
below 650
|
EBLR
|
1.10%
|
10.40%
|
|
New 2-Wheeler
|
700 & above
|
EBLR
|
2.90%
|
12.20%
|
|
below 700
|
EBLR
|
3.00%
|
12.30%
|
* SPECIAL RETAIL LENDING SCHEME FOR GOVERNMENT EMPLOYEE