Car Loan

What s car loan?

In simple terms, it is the money borrowed from a bank to purchase a car. Car loans can be availed to buy both pre-owned cars or a new car. .

Why avail a car loan?

Interest rate:

Car loan can be availed at competitive interest rates. The repayment tenure depends upon the loan availed.

Hassle free process:

The car loan requires minimal documentation. Also, the loan is processed quickly if you meet the eligibility criteria.

What are the types of car loan?

Secured loans: In this loan, you new car acts as the collateral. If there is a default, the bank can confiscate your car and get the money back.

Unsecured loans: Unsecured loans are availed to purchase a pre-owned vehicle. In this case, a small quantum of loan us offered at a higher interest rate.

Eligibility criteria of car loan:

for a car loan, you must ensure that you meet the eligibility criteria.

1. You need to be within 21 to 60 years of age.

2. You gross monthly income should be above Rs. 10000

3. The applicant can be self-employed or salaried professional having a steady source of Income

4. Income

Car Loan

Car Loan

Car Loan

Interest rate:

Hassle free process:

The car loan requires minimal documentation. Also, the loan is processed quickly if you meet the eligibility criteria.

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