Explore Your Options
Drive in New Future With Used Car Loans!
It Might Be Dream for Someone, But For You, it’s An Opportunity
You’ve always been the kind who’d love to own and drive the latest car models around, but your budget has never allowed you to consider buying anything much newer than a second-hand model. Worry not, as we have got the right support for you with a Used Car Loan.
A Wide Range of Loan to Choose from
BANK NAME
RATE OF INTEREST
PROCESSING FEES
SBI
9.25% onwards
0.50% of Loan Amount +ST Min: Rs.950.00 +ST, Max: Rs.9100.00 +ST
HDFC Bank
9.35% onwards
Rs.2825 to Rs.5150 (depends on the loan amount)
ICICI Bank
9.55% onwards
Rs.2500 to Rs.5000 (depends on the loan amount)
Axis Bank
9.50% onwards
Rs.3500 to Rs.5500
IDBI Bank
9.95% onwards
NIL
Punjab National Bank
9.25% onwards
1% of the loan amount. (Max-Rs.6000)
Bank of India
9.25% onwards
Rs.500/- plus S.T. or 1% of loan amount. Min: Rs.500 and Max: Rs. 10,000
Syndicate Bank
10.1% onwards
Up to 2 Lakhs: Rs.1.25 per thousand. Minimum: Rs.125/- Above 2 lakhs: Rs.200 per lakh.
Here is the checklist of the documents required to apply for a car loan:
- Photo
- Pan Card
- Adhar Card
- Bank statement Last 01 Year
- ITR Last 2 Years ( if Self Employed Person)
- Last 6 Month Salary Slip ( if salaried Person)
- Electricity bill Of Resident.
- quotation Of car
Reasonable interest rates, reasonable EMIs, oversimplified work, and fast disbursement ar a number of reasons why automobile loans became such a snug possibility for today’s individual. currently the dream of owning a automobile is not any longer far-fetched- a number of documents ar all you would like.
Predominantly, the investor banks explore for proof that you just ar an honest credit risk and ar in a very position to repay the auto loan. This info, at the side of your credit report and score, can directly impact the rate that you just ar charged.
Since your credit rating are assessed whereas applying, it’s value cleanup up any existing debts before you lodge your initial application. this can be bound to improve your possibilities of approval. If you’ve got a foul credit history, the investor bank also will need to visualize your mastercard statements, mortgage details and verification of alternative loans that you just hold.
Some banks could need sure documents of you that alternative banks don’t need, therefore it’s best to see with the investor bank before your appointment with the loan officer..
Post–sanction or Pre–disbursement Documentation
- Loan Agreement punctually signed at the side of the Regional Transport workplace set
- Standing Instruction (SI) Request / ECS type / Post-dated Cheques (PDCs), Security Cheques needed for SI and ECS
- Margin cash receipt
