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Car has become an indispensable part of everybody’s life. Without it, no one can imagine life to run smoothly. But buying a car requires a huge amount of financing and it is quite difficult to arrange finance with limited income. Auto Financing is the best way and the most beneficial method to avail cash in a short period of time.
Interest Charges for Car Loan in Chennai
|New Car Loan Interest Rate (Reducing)||Used Car Loan Interest Rate (Reducing)||Processing Fee|
9.45 to 10.75 %
|13.75% Up to 36 Months||0.50%|
|17.20% Above 36 Months|
Why one should choose Car Loan in Chennai
- Easy monthly Repayment options.
- Instantly available.
- Loan Tenure period varies from 5-7 years.
- Affordable Interest Rates.
- Easily and quickly available loans.
- No hidden charges.
Eligibility Criteria for Car Loan
- Minimum age: 21 years
- Maximum age at loan maturity: 65 years
- Minimum employment: For Salaried 1 year in current employment and a minimum of 2 years of employment / For Self- Employed at least 3 years in business
- Minimum Annual Income: For Salaried Rs 100000 net annual income / For Self- Employed Net profit Rs. 60000 p.a for standard cars and Rs.100000 p.a. for mid-sized and premium cars
- Telephone: Must at a residence.
Documents you will need to submit
- Proof of Identity: Passport copy, PAN Card, Voters ID card, Driving License( Laminated, Recent, Legible)
- Income Proof: For Salaried Latest salary slip with form 16 / For Self- Employed Latest ITR
- Address Proof: Ration card / Driving license / Voters card / Passport Copy / Telephone Bill / Electricity Bill / Life Insurance Policy PAN Card
- Bank Statement: Last 6 months
Chennai is the capital of Tamil Nadu and the leading commercial center of south India. It is located on the Coromandel Coast of the Bay of Bengal. It is also the cultural center of South India.
Special Note: Banks do not provide Car Loan to bad credit holder, but one can fulfill their money requirement with Gold Loan easily.
Leading Car Loan Providers in Chennai (Click to Apply)
- HDFC Car Loan
- Bank of Baroda Car Loans
- Canara Bank Car Loan
- IndusInd Bank Car Loan
- State Bank of Hyderabad Car Loan
- SBI Car Loan
- ICICI Bank Car Loan
- AXIS bank Car Loan
- IDBI Car Loan
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