Vehicle Loans
Looking for a smoother way to secure a vehicle loan? At Ujjivan SFB , we offer two-wheeler and electric three-wheeler loans designed for convenience and simplicity. Our flexible financing options, attractive interest rates and easy application process ensure a seamless experience. Begin your journey with us; apply for a vehicle loan today.
Types of Vehicle Loans
Vehicle Loan EMI Calculator
Calculate your Vehicle Loan EMI in few seconds. Our Vehicle Loan EMI Calculator features a user-friendly interface designed to give you quick results.
Break-up of Total Payment
Monthly Loan EMI
Principal
Total Interest
Total Payment
(Principal + Interest)
Why Choose Ujjivan for Vehicle Loans?
Things to Consider Before Applying for a Vehicle Loan
1. Know the Interest Rate
The interest rate directly affects your EMI (Equated Monthly Instalments). The applicable rate may vary across applicants and is at the sole discretion of the bank.
2. Calculate Your EMI
Calculate your EMI in advance with our EMI calculator and plan your loan better. Vary the loan amount, tenure and interest rate to compare EMIs. This would help you make an informed decision.
3. Consider Fees and Charges
Take additional costs like processing fee, documentation charges, stamp duty , etc. into account before applying. Ujjivan SFB offers complete transparency regarding any loan-associated fees and charges.
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Catch up on the latest blog updates from your trusted bank!
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FAQs
1. What are the types of vehicle loans offered by Ujjivan SFB?
Ujjivan SFB offers two types of vehicle loans – two-wheeler loan and electric three-wheeler loan.
2. Can I get a vehicle loan with a bad credit score?
It’s always recommended to keep your credit score healthy, typically above 750. A higher credit score may help you secure your vehicle loan faster.
3. What happens if I foreclose my vehicle loan?
You will have to pay a loan foreclosure fee if you choose to pre-close your vehicle loan. Kindly check our fees and charges for more details.
4. Who can avail a vehicle loan?
Any Indian resident can apply for our vehicle loans. Kindly call our toll-free number at 1800 208 2121 for more details.
5. How is vehicle loan EMI calculated?
The mathematical formula for vehicle loan EMI calculation is EMI = P * r * (1 + r)^n / ((1 + r)^n - 1), where P is the principal loan amount, r is the monthly interest rate (annual rate divided by 12), and n is the loan tenure in months. However, manual calculations can be taxing and may leave room for errors. As a better alternative, use or vehicle loan EMI calculator to save time and effort.
