What is Union Bank of India Car Loan EMI?
- car Loan EMI (or equated monthly instalment) is a fixed amount of money paid by you to Union Bank of India against the loan taken. This is towards repayment of your loan to the bank. Every month, it is due on a fixed day of the month till your loan is fully paid back.
- With Union Bank of India offering car Loans with loan tenure upto 7 years, the loan EMI can be as low as Rs. 1,650 per lakh, to make it more affordable and convenient to meet your car needs. Rate of interest offered by Union Bank of India are as low as 9.80%. You can check EMI for other tenures using our Union Bank of India car Loan EMI calculator.
- This EMI consists of both interest payment and principal repayment. Though the EMI amount will remain constant, the principal component keeps increasing and on the other hand the interest component keeps reducing.