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Home » Banks offering Auto loans » UTI

UTI
As the job market is growing and developing, the standard of the living is also increasing. This is because of the increase in the income standards as well. There are a large number of people who have become interested in buying vehicles which can be cars as well as two wheelers. The auto loans provided by different banks have been of great help to all these people. UTI is one of the banks offering different types of auto loans to the people. This is one of the banks which has excellent terms and conditions which has attracted a large number of people. The UTI bank is presently known as Axis Bank.
The UTI Bank or the Axis Bank as it is presently known as, offers two types of auto loans- Car Loans and Two Wheeler Loans. This is one of the loans which also falls under the personal loans category. Again one of the important things is that UTI bank offers loans against the property as well as loans against security. The car loans scheme by the UTI Bank or the Axis Bank as it is known as is called the “Power Drive”. This is one of the schemes which will help you in fulfilling the dream of buying a car. It is a type of bridge between the cost of the car and you. Some of the major features of this “Power Drive” car loan Scheme by UTI are:
  • Special schemes for Priority as well as Axis Bank Salary account holders
  • No income proof schemes available with the UTI Bank.
  • Car Loans are offered from Rs. 1 lac onwards
  • The Loan value calculated on the on-road-price of the vehicle
  • The interest rates are attractive
  • LTV of up to 85% is offered to the on-road-price on selected models
  • Loans available for salaried as well as self employed individuals, proprietorships and also different partnership firms
  • The tenure of loans are from 1 year to 7 years.
The Eligibility criteria in UTI for salaried individual are different from the the self employed individual. You will have to meet these criteria in order to get the UTI loans. In case of Salaried Individuals, The Minimum age of application is 21 years and the maximum age of applicant at loan maturity can be 58 years. The minimum income of Rs. 1 Lac per annum for certain selected models and Rs. 2 Lac per annum for other models. The person should be employed for minimum 2 yrs cumulative experience. In case of Self-employed Individuals the minimum age of applicant should be 21 years and the maximum age of applicant at loan maturity should be not more than 65 years. The minimum income should be of Rs. 60,000/- per annum for selected models and Rs. 1 Lac per annum for others. The person should be employed for 3 yrs cumulative in business.

Hope you get all the information about UTI from this site. To know more about the banks offering auto loans, have a look at the pages of autoloansxl.com.