Union Bank slashes interest rates on vehicle loan

Union Bank has slashed interest rates on vehicle loans to 10.95% (0-7 years) with immediate effect. Earlier, the rates were in 2 slabs – 12.50% (0-3 years) and 13.50% (3-5 years).

The Bank has extended its ‘The Independence to Republic Day Festive Offer’ to vehicle loans by waiving processing fees during this period.

Earlier, the Bank had reduced interest rates on home loans to 10.50% and waived 0.5% processing fees on loan amount. [H]