Auto Loan
Auto Loan
Fulfill your dreams of owning a vehicle by UGB's Auto Loan scheme. Avail the facility to purchase new or old Personal Car and Two Wheeler.
Eligibility
- Indian citizen aged between 21 yr to 65 years.
- Regular employee of state govt./central govt./public sector undertaking/private sector or reputed establishment, who completed one year service.
- Professional or self-employed customer having ITR of minimum 2 years.
- Any person engaged in Agricultural and Agriculture Allied Activities.
- Salaried Personals of multi-national companies.
Income Eligibility
For Salaried Employee
- Net annual income after all deductions, should be 2,50,000/-.
- For Professional and self Employed
- Minimum net annual income should be 2,50,000/- by last two years
For Agriculture Borrowers
- Minimum net annual income should be 2,50,000/- by last two years.
EMI/NMI Ratio
S No. |
Net Annual Income |
EMI/NMI Ratio |
1. |
Up to Rs. 5 Lakhs |
Should not exceed 50% |
2. |
Above Rs. 5 Lakhs and up to Rs. 10 Lakhs |
Should not exceed 60% |
3. |
Above Rs. 10 Lakhs |
Should not exceed 75% |
Loan Amount
- For Salaried employee 48 times of net monthly income.
- For Professional and self employed 04 times of net annual income.
- For Agriculturist 4 times of net annual income.
Rate of Interest-10.75% (May vary time to time as per bank guidelines)
Processing Fees
- Processing fee will be recovered on the loan amount upfront as 0.50% of the loan amount subject to minimum of Rs. 1,000/- and maximum of Rs. 10,000/-.
Repayment-Repayment period is 3-7 years.
Essentials Documents
Documents to be obtained For Salaried Individuals:
- Statement of Bank account of the borrower for last 6 months
- Proof of Identity :- ( any one of the following)-Password copy/PAN Card/Voters ID card/Driving License etc.
- 2 passport size photographs of borrower
- Income Proof: - latest salary slip with form 16.
- Address Proof :- (any one of the following) - Ration card/Driving License/Voters ID Card/Passport Copy/Telephone Bill/Electricity Bill/Life Insurance policy/PAN Card.
- I.T. Returns/Forms 16 for the last 2 years.
- Quotation of vehicle proposed to be purchased.
For Self Employed Professionals, Proprietary/Partnership firms& Businessmen
- Statement of Bank account of the borrower for last 6 months
- Proof of Identity :- (any one of the following)- Passport copy/PAN Card/Voters ID Card/Driving License etc.
- 2 Passport size photographs of borrower.
- Income Proof: - Latest ITR for 2 years.
- Address Proof:- (any one of the following)- Ration card/Driving License/Voters ID Card/Passport Copy/Telephone Bill/Electricity Bill/Life Insurance policy/PAN Card.
- I.T. returns/Forms for the last 2 years.
- Audited Balance sheet, P&L statement for 2 years and Shop & establishment act certificate/sales tax certificate/SSI registered certificate/copy of partnership.
- Quotation of vehicle proposed to be purchased.
For Agriculturists:
- Statement of Bank account of the borrower for last 6 months
- Proof of Identity: - (any one of the following) - Passport copy/PAN Card/Voters ID Card/Driving License etc.
- 2 Passport size photographs of borrower.
- Address Proof:- (any one of the following)- Ration card/Driving License/Voters ID Card/Passport Copy/Telephone Bill/Electricity Bill/Life Insurance policy/PAN Card.
- Direct agricultural activity (crop cultivation) - Khasara (showing cropping pattern) Patta / Khatauni (showing land holding) with photograph. All land should be on free hold basis and ownership proof to be in the name of applicant.
- Allied agricultural activity (like Dairy, Poultry, Plantation/ Horticulture)-documentary proof of running of the activities.
- Quotation of vehicle proposed to be purchased.
For more details please contact to nearest Branch Manager