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Union bank car loan interest rate for new car loans is 7.40% and for used car loans is 10.40%. Unionbank of the philippines is an entity regulated by the bangko sentral ng pilipinas. Amortization is essentially the procedure of repaying a loan through regular payments over a specified period. A nonrefundable $550 application fee is required. This system allows you to establish a payment from another financial institution to your union bank loan.
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The interest rate on your union bank car loan is fixed after considering factors such as your income, loan tenure, credit score, down payment, and so on.
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