Compare United Bank of India vs Bank of Maharashtra Car Loan
| Bank | ||
|---|---|---|
| Interest Rate for New Car Loan | Interest Rate for New Car Loan 8.60% - 8.85% |
7.20% - 10.70% |
| Interest Rate for Used Car Loan | Interest Rate for Used Car Loan N.A |
10.35% - 13.20% |
| Rate Type | Rate Type Floating |
Floating |
| Processing Fee | Processing Fee Nil |
Nil |
| Lowest EMI per ₹ 1 lakh | Lowest EMI per ₹ 1 lakh ₹ 14,698 |
₹ 14,631 |
| Maximum LTV for New Car | Maximum LTV for New Car 85% of on-road price |
90% of on-road price |
| Maximum LTV for Used Car | Maximum LTV for Used Car N.A |
50 % of market value |
| Maximum Tenure | Maximum Tenure 7 Years |
7 Years |
| Prepayment Charges | Prepayment Charges Nil |
Nil |
| Minimum Age | Minimum Age 21 Years |
18 Years |
| Maximum Age | Maximum Age 70 Years |
60 Years |
| Minimum Income | Minimum Income ₹ 2.40 lakh |
₹ 4.00 lakh |
| Customer Ratings (Read Reviews) | Customer Ratings (Read Reviews) |
|
Compare Car Loan EMI of United Bank of India and Bank of Maharashtra
Compare Car Loan EMI for different loan amounts for lowest rate and maximum tenure offered by Bank of Maharashtra at 7.20% for 7 years and United Bank of India at 8.60% for 7 years.
| Loan Amount | United Bank of India | Bank of Maharashtra |
|---|---|---|
| ₹ 1 Lakh | ₹ 14,698 | ₹ 14,631 |
| ₹ 3 Lakh | ₹ 44,094 | ₹ 43,892 |
| ₹ 5 Lakh | ₹ 73,491 | ₹ 73,153 |
| ₹ 10 Lakh | ₹ 1,46,982 | ₹ 1,46,306 |
Which Bank is better for Car Loan – Bank of Maharashtra or United Bank of India?
Bank of Maharashtra offers lower Car Loan EMI at ₹ 14,631 on a Car Loan for 7 years as compared to United Bank of India and with a minimum EMI of ₹ 14,698 for 7 years. Average customer ratings for Bank of Maharashtra is currently at which makes it a good choice for taking a Vehicle Loan.
How does Bank of Maharashtra Car Loan compare with United Bank of India Car Loan?
It is important to do a detailed comparison of Bank of Maharashtra and United Bank of India Car Loan on all loan terms and conditions to understand their differences in rates and charges and make a better choice amongst the banks. Some of the conclusion drawn on the comparison between banks are:
Which bank offers a lower interest rate on Car Loan - Bank of Maharashtra or United Bank of India?
As per the current rates, Bank of Maharashtra offers a lower interest rate of 7.20% on Car Loan when compared to United Bank of India which offers a Car Loan at 8.60%.
What is the maximum LTV offered on a Car Loan amongst Bank of Maharashtra or United Bank of India?
Banks provide car loans on ex-showroom price & on-road price. Bank of Maharashtra provides a higher LTV of upto 90% of on-road price. However, United Bank of India provides the lower LTV 85% of on-road price.
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Compare United Bank of India Car Loan With Other Banks
Compare Bank of Maharashtra Car Loan With Other Banks
- 2022-05-13 : South Indian Bank Posts all-time High Net Profit in Q4
The Bank has posted an all-time high net profit of ₹272 crores for Q4 in FY 22 against ₹6.79 crores during the corresponding period of the previous year. - 2022-05-13 : Union Bank Increases Car Loan Interest Rates
The bank has increased the interest rates on both new and old cars. The car loan interest rate ranges from 7.30% to 8.40% for new cars. In addition, the bank offers car loans for old cars starting at 10.80% to upto 10.90%. - 2022-05-13 : Ujjivan Small Finance Bank Profit Falls by 7% for Q4
The bank has reported a 7 percent fall in its net profit to Rs 126.5 crore. Earlier, the bank had posted a net profit of Rs 136 crore in the same quarter of the preceding fiscal year 2020-21. - 2022-05-12 : Punjab National Increases Car Loan Interest Rates
The bank has increased the interest rates on both new and old cars. The car loan interest rate ranges from 7.05% to 9.10% for new cars. In addition, the bank offers car loans for old cars starting at 8.50% to upto 9%. - 2022-05-10 : Federal Bank Revises Car Loan Interest Rates
Federal Bank has increased interest rates on new car loans. After the revision, the car loan rates increased from 8.50% to 8.90%. The bank has also revised second-hand car loan rates to 14.20%.
