Exchange Rate-13/Nov/2019USD : Buy 1514, Sell 1520 EUR Buy 1664, Sell 1674 SGD : Buy 1105, Sell 1115

Auto Loan

 
 

Finance should not be a red signal and the door is open for the ownership of your dream car.

Drive home with uab Auto Loan.

Features

Repayment period up to 7 years for new vehicles, 5 years for second hand vehicles. Repayable on monthly installments.

 

 

Eligibility

  • Individuals having permanent source of  income such as employees , business men , professional etc 

  • Loan amount up to 70% of the value of vehicle.
  • The Loan eligibility will be adjusted to ensure that total  Monthly instalments from all loans (uab  plus other banks)  should not exceed 1/3 of gross monthly  salary / monthly income as per proof given.
  • Minimum monthly income : MMK 500,000  (for  two wheelers) ,MMK 1,000,000 (  for  Four wheelers).

Security

  • Vehicle to be purchased. Other collateral security may be insisted on cases where income proof is not sufficient.

 

Documents Required at the time of Application

a)  Loan  application

b) KYC documents  of borrower & Guarantors

c) Proforma invoice / Quotation from the seller

d) Salary  certificate / Certificate  from  employer  ( in case of employees)

e) Income proof , such as Income Tax return , Balance sheet , account statement etc ( in case of applicants other than employees)

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