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Union National Bank Used Car Loan with salary transfer

Union National Bank Bank

WarningMessage This product is discontinued by the Bank

Used Car Loan with salary transfer

Minimum Salary

AED 5K

Flat Rate

4.12%

Reducing Rate

7.47%

Loan Amount

AED 350K

Early Settlement Fee

1%

Arrangement Fee

1%

Down Payment

20%

minimum salary

AED 5K

Minimum Salary

flat rate

4.12%

Flat Rate

reducing rate

7.47%

Reducing Rate

max finance

AED 350K

Loan Amount

early settlement fee

1%

Early Settlement Fee

arrangement fee

1%

Arrangement Fee

down payment

20%

Down Payment

Features

  • Repayment period is up to 60 months
  • Interest rate for the given finance is 4.12%
  • Minimum salary requirement is AED 5,000
  • The reducing rate and the flat rate is 7.47% and 4.12%. This denotes that the computation done was a division of the reduction rate by 1.814v
  • Salary transfer is not required
  • Maximum loan amount is AED 350,000 that Union National Bank can provide
  • Early settlement fee is 1% of the finance amount
  • Processing fee is 1% of the finance amount
  • About 20% down payment is required for this finance

Benefits

  • High finance amount is provided by Union National Bank
  • Low minimum salary requirement is there for given finance
  • Finance can be provided for new as well as used cars
  • Maximum repayment period is of 60 months
  • Documentation is simple

Frequently Asked Questions

⭐ What all documents do I need to apply for a car loan in Union National Bank?

A. Following documents are required to apply for car loan in Union National Bank:
1. Completed and signed application form
2. Valid salary certificate
3. Passport copy with valid residence visa
4. Copy of your driver’s license

⭐ Does the Union National Bank offer what I ask for?

A. No, Union National Bank offers only 80% of your car value.

⭐ Can I buy any car using this finance?

A. No, you cannot buy sports car or a pickup using this finance.

⭐ Will my credit score get better if I just wait?

A. No, it’ll get worse. It is best suggested not to wait longer for loan.

⭐ When do I have to pay higher interest rates for my finance?

A. If you don’t have good credit score and you don’t match bank’s eligibility criteria, then you might be asked to pay higher interest rates.

Union National

Established as a Public Joint Stock Company (P.J.S.C) in 1982, Union National Bank (UNB) has shareholdings from both Dubai and Abu Dhabi Government. UNB has a Vision ‘to be the best in class for the banking industry in the UAE’ and a Mission ‘to be the first and the best bank of choice for all stakeholders.’ The values followed by UNB are :

  • Integrity & Transparency
  • Customer Focus
  • Team spirit
  • Continuous Improvement
  • Nurturing Staff
  • Responsible Community Membership
  • Best practices

   Get in touch with Union National Bank Customer Care