Car loan

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About Car loan

A car loan/car finance is a loan availed for: Buying a new car. Purchase a pre-owned car. A car loan/car finance can be availed individually or jointly with close relatives. Car finance/car loan are secured loans where the car itself is used as a collateral. Most of the rules and processes car loan/car finance amount depends on various factors like age, gross income, EMIs and other deductions, and the cost of the proposed car. To check your eligibility, you can visit the Car Loan Eligibility Calculator. The maximum car loan limit for individuals is Rs. 200.00 lakh and for non-individuals the maximum loan amount you get is different for different banks. Based on the car you choose; you can check your eligible loan offer. Generally, most banks offer loan for 80% to 90% of the on-road price of the car. Few banks also offer up to 100% financing on new car loan based on your income and credit history.

Car Loan - Eligibility

Any salaried, self-employed or professional Public and Privat companies, Government sector employees including Public Sector is eligible for a personal loan.

 

Age

Age Requirement is 18 Years to 65 Years.

Income

Salaried or Self-Employed with Minimum Annual Income of Rs.3 lakhs.

Credit Score

Applicant should have the bank specified credit score.

EMI Calculator

EMI:

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