Key facts
What the official sources publish
Every value belongs to this exact product. Expand any fact to inspect its official evidence in place.
Vehicle typeUnion Green Miles is the electric-vehicle segment; Union Miles covers non-electric vehicles. The page also describes new and eligible used vehicle purposes for the overall vehicle-loan family.View source
The official says Green Miles loans are for buying electric vehicles and Union Miles is for non-electric vehicles.
- Source
- Union Vehicle / Union Miles
- Page / section
- — Union Miles and Union Green Miles
- Accessed
- 30 Aug 2026
- Confidence
- high
Interest rateCurrent Green Vehicle ROI table: new electric four-wheeler 7.50%–9.90% p.a. by CIC score and borrower type; new electric two-wheeler 10.90%–11.00% p.a.View source
The current table lists Green Vehicle score bands and effective for new electric 4-wheelers and 2-wheelers.
- Source
- Union Bank retail loan interest-rate table
- Page / section
- Pages 4–5 — Union Green Vehicle Loan
- Accessed
- 30 Aug 2026
- Confidence
- high
Maximum financeNo separate Green Vehicle ceiling is published in the reviewed table; the standard vehicle page publishes no ceiling for a new four-wheeler, ₹10 lakh for a new two-wheeler and ₹20 lakh for an eligible old four-wheeler.View source
The product page provides family quantum limits; the Green Vehicle table changes pricing, not a separately stated quantum ceiling.
- Source
- Union Vehicle / Union Miles
- Page / section
- Quantum of Loan; Green Vehicle table
- Accessed
- 30 Aug 2026
- Confidence
- high
EligibilityThe applicant must meet Union Bank vehicle-loan conditions and purchase an eligible electric vehicle; the page states Green Miles is the electric-vehicle segment.View source
The identifies Green Miles as the electric-vehicle loan segment.
- Source
- Union Vehicle / Union Miles
- Page / section
- — Union Green Miles
- Accessed
- 30 Aug 2026
- Confidence
- high
Minimum incomeNo fixed rupee income floor is published; the standard vehicle page says quantum depends on gross income, EMIs, deductions, age and vehicle cost.View source
The official lists assessment factors without a universal salary threshold.
- Source
- Union Vehicle / Union Miles
- Page / section
- — How much Union Miles Loan can I get?
- Accessed
- 30 Aug 2026
- Confidence
- high
APRNo separate fee-inclusive APR figure is published; the current table provides annual effective ROI by CIC score.View source
The provides effective , not a separate calculation.
- Source
- Union Bank retail loan interest-rate table
- Page / section
- Pages 4–5 — Green Vehicle
- Accessed
- 30 Aug 2026
- Confidence
- high
BenchmarkUnion Bank's published reference benchmark is EBLR (Repo Rate), shown as 8.00% effective 13 June 2026 on the current loans-and-advances rate page. Product-specific premiums and concessions are shown separately in the retail ROI table.View source
The official rate page lists (Repo Rate) at 8.00% with effect from 13/06/ 2026 and links the retail loan rate table.
- Source
- Interest Rates — Loans and Advances
- Page / section
- Reference rates table: (Repo Rate)
- Accessed
- 30 Aug 2026
- Confidence
- high
Processing feeNo numeric processing-fee amount or percentage is published on the reviewed product pages or in the current retail ROI PDF for this product family. The Union Vehicle page mentions a processing-fee cheque when applying, but does not publish the fee amount on the reviewed page.View source
The vehicle page asks for a processing-fee cheque with a branch application but gives no amount; the reviewed retail contains rates and premiums, not a processing-fee schedule.
- Source
- Union Vehicle / Union Bank retail
- Page / section
- Application method; retail pages 1–12
- Accessed
- 30 Aug 2026
- Confidence
- high
Maximum amountNew four-wheeler: no ceiling published. New two-wheeler: up to ₹10 lakh. Old four-wheeler not older than 3 years: up to ₹20 lakh. The Green Vehicle table does not publish a separate quantum ceiling.View source
The official page states no ceiling for a new four-wheeler, ₹20 lakh for an old four-wheeler and ₹10 lakh for a new two-wheeler.
- Source
- Union Vehicle / Union Miles
- Page / section
- Quantum of Loan;
- Accessed
- 30 Aug 2026
- Confidence
- high
TenureNo universal maximum tenure is published on the reviewed page/PDF for this variant; detailed scheme terms determine repayment tenure by purpose, vehicle/property and borrower profile.View source
The reviewed sources publish rate, quantum and eligibility terms for these variants but no one universal maximum tenure.
- Source
- Union Bank retail and product pages
- Page / section
- Applicable scheme pages and retail table
- Accessed
- 30 Aug 2026
- Confidence
- high
Prepayment / foreclosureNo numeric prepayment or foreclosure charge is published on the reviewed product page or current retail ROI table for this variant.View source
The reviewed source pages/ publish the product's rate and eligibility terms but no numeric prepayment/foreclosure charge.
- Source
- Union Bank retail and product pages
- Page / section
- Applicable product pages and current retail table
- Accessed
- 30 Aug 2026
- Confidence
- high
Benefits and features
- Dedicated electric-vehicle scheme
- Current table publishes lower Green Vehicle tiers than standard vehicle finance
Eligibility
- Vehicle must be an eligible electric vehicle under Union Green Miles terms.
Passing a listed condition does not mean the bank will approve an application.
Documents the bank lists
- Application, , income and electric-vehicle documents as required by Union Bank.
Related official documents
Union Bank retail loan catalogueofficial-product-page · current · accessed 30 Aug 2026
↗Union Bank retail loan interest-rate tableofficial-pdf · current · accessed 30 Aug 2026
↗Union Vehicle / Union Miles — official product pageofficial-product-page · current · accessed 30 Aug 2026
↗