1) Union Executive Lease - designed for Executives / Professionals.
2) Union Corporate Lease - tailor made for Corporates.
3) Union Machinery Lease - to finance machinery & equipment
Value Additions for UBC clients:
Union EX-Club - clients who are members of this club, are offered; Residual Value leases, special insurance packages, information on vehicles from our dealer network & special discounts on selected vehicles, spare parts, services & repairs.
Leasing from Union Bank brings you several benefits such as:
Financing up to 100%
Rentals to suit your purse
Tailor made lease facilities, structured to suit your income.
Types of Leases available;
Residual Value Lease, Stepped Up Lease, Stepped Down Lease, Balloon Payment Lease & Skipped Payment Lease.
Specialised Advisory Services
Competitive interest rates
Available from all Union Bank Branches
Specially arranged insurance covers and flexible premium payments.
Easy documentation process and speedy processing of the lease facility
Documents required;
1. Proforma Invoice or Quotation from Suppliers
2. Valuation Reports ( for registered / re-conditioned, vehicles/ machinery)
3. Bank statements for the last 06 months (if account is not with Union Bank)
4. Documents evidencing income and repayment capacity
5. Details of any additional security offered
Lease Amount : minimum lease amount is Rs. 100,000/-, whilst the maximum would be determined according to the customer´s exposure, servicing capacity & the re-salability of the asset .
Repayment of Lease : Recoverable in monthly rentals spread over a maximum of 5 years. The rental will consist of the capital, interest & VAT (15% on the lease rental).
Prepayment or Down Payment : The bank will require the Lessee to pay a specified number of rentals upfront depending on the clients credit worthiness.
