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This is an easy finance scheme for purchase of a new car as well as second hand vehicle not older than 5 years.

Target Group

1. Salaried Group

Regular Employee with minimum 6 months completed service.

2. Non-salaried Group

Farmers and Agriculturists.

3. Business Concerns (Corporates & Non Corporates)

4. Ex-staff and Pensioners

5. NRIs

Income Criteria

1. Salaried Group

Minimum monthly take-home pay would be Rs.10000/- after all statutory deductions and existing loans liabilities + EMI of the pr

Maximum loan limit 36 times of Gross Monthly Income.

2. Non-salaried Borrower

Minimum income should be Rs.2.40 lacs per annum during the preceding year.

Maximum loan limit three times of average gross annual income for the last 2 years.

3. Farmers & Agriculturists

Minimum Gross Income of Rs. 2.40 lacs p.a. during the previous financial year.

Farmers having land holding in their own name.

Maximum loan limit: Three times of Annual Income of the previous financial year.

* Clubbing of income of spouse, major children for ascertainment of loan limit is considered on merits.

* Likewise clubbing of income of regular earning parents is allowed for loan to major children.

4. Business Concerns (Corporates & Non Corporates)Business concern must be in profit for last 2 years and cash flow during the currency of loan must be sufficient enough to repay

Age

Minimum age 21 years & No maximum age stipulation

Margin Requirements

15% for new vehicle

30% for used vehicle upto 4 years old & 40% for used vehicle of more than 4 years old but upto 5 years old

Quantum of loan

Established professionals & Self Employed, Businessmen

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For New Car:

Maximum finance would be 85% of the on Road price i.e. Ex Show Room Price + Cost of Registration +Insurance + One time Road

For Pre-used Car:

Maximum loan amount Rs.3.50 lac

Repayment

New Car: Maximum 84 EMI

Pre-used Car: Maximum 36 EMI

New Car :- Base rate + 0.25%

Pre-Used cars :- Base rate + 4%

Processing Charge

1% of the loan amount maximum Rs.1500/-

Prepayment Charges : NIL

Click here for Interest Rates

http://www.ucobank.com/interest-rates/base-rate-bplr.htmhttp://www.ucobank.com/interest-rates/base-rate-bplr.htm

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1080000

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SL NO DESCRIPTION CALCN

1 MARGIN REQUIREMENTS 15%

2 QUANTUM OF LOAN 85%

3 REPAYMENT 84

4 INTEREST RATE 10.25%

5 ON ROAD PRICE + extra 800,000

6 DOWN PAYMENT 120,000

7 LOAN AMOUNT 680,0008 EMI / month -11,377

ON ROAD PRICE 771,915.00

EXTRA 18,085.00

2.3428745393

FORD ECOSPORT

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CAR

months

650,000 2,090,000 813,137

97,500 313,500 121,971

552,500 1,776,500 691,166-9,244 -29,722 -11,564

601406

-776,469.17

873,969.17

223,969.17 -2,133 -179,185.19

MARUTI SWIFTZXI

BMW 1 Series116i (Petrol)

Renault Duster 1.6RxE (Petrol)

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750,000 550,000

112,500 82,500

637,500 467,500-10,666 -7,822

FORD CLASSIC 1.6Duratec Petrol

Titanium

Ford Figo 1.2Duratec Petrol

ZXI