car loan
Rate of Interest for Car Loan
Car Loan Details | |
Interest Rate (Monthly reducing balance) | 8.60% onwards |
Processing Fees | Varies with bank |
Loan Tenure | 1 years to 7 years |
Pr-closure Charges | Varies with bank |
Guarantor Requirement | Varies with bank |
Things to be done while applying for it – Car Loan
Steps | Requirement | Inference |
Submit Income Proof | Bank Statement (last 6 months) | Lender wants to establish your ability to repay the borrowed amount. |
Submit Proof of Address and Identity | PAN Card, Voter’s ID, Aadhaar Card, Passport, etc. | Lender wants to establish your nationality, identity and permanent address. |
Credit History | PAN Card | Lender wants to check your past credit records and establish if you can be trusted to make regular repayments. |
Information About Vehicle | Sales Receipts from the Showroom from wherein the Vehicle was Purchased. | Lender must confirm that the deal was affected as intended. |
Proof of Insurance and Driving License | Copies of the Vehicle’s Motor Insurance and your Driving License. | Lender must establish that all laws and protocols are followed with regards to the purchased vehicle. |
Why From Us
- 1. Low Rate Of Interest
- 2. Hassle Free Loans
- 3. More Than 22 Financial Institutions
- 4. Low Documentations
- 5.Quick Sanction