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Citibank helps you to get that best new car, you always wanted, with its new best cheapest Car Loans scheme. They offer loans up to 90% of the ex-showroom price and flexible repayment options as per your convenience. Citibank Prime Limited loans most passenger cars and multi-utility vehicles manufactured by India's leading automobile companies. They also loan imported cars after fulfillment of particular terms and conditions.

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What is Citibank Car Loan?

Citibank Car Loan signed for those who wish to loan a car for the personal use. It is the way you can borrow money for future. A car loan helps the person to immediate use of the car in exchange of regular payments given by the borrower to the lender.

 

Citibank Car Loan Services

Citibank Car Loan Services - the Citibank is the Best Internet Bank in India, that offers you Internet Banking that is very fast, secure and easy. Discover the convenience of secure online banking, which offers you Online banking with a whole host of the transactions capabilities. With Citibank Car Loan, you can create a free, customized plan that automatically transfers money from your checking to your savings.

 

Features of Citibank Car Loan 

Details of Citibank Car Loan are:

  • Minimum loan amount: Rs. 90% of ex-showroom rate of Car.
  • Maximum loan amount: Rs. 1 Lakh.
  • Minimum loan tenure: 1 year.
  • Maximum loan tenure: 7 year(s).
  • Interest type: Fixed.

 

Loan Amount  of Citibank Car Loan

You can borrow up to 90% of the invoice value. The minimum Citibank Car Loan amount is Rs.75, 000/-

  • The choice is yours, you can choose best any repayment options from 12 to 60 months all specially designed to suit your requirements/needs.
  • Rate type:  Monthly reducing.
  • Processing fees:  Rs. 3000-4000 + 1% of the loan amount.
  • Maximum loan amount: Depends upon the price of the car, model variant, profile of the customer etc.

 

Important Factors of Citibank Car Loan

Following are the factors which determine Citibank Car Loan:

  • Relationship with the bank you intend to take a car loan from.
  • Company status.
  • Income.
  • Credit and payment history.

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Interest Rates & Charges of Citibank Car Loan

Citibank Car Loan Interest Rates as following:

  • Interest rates: 11.50% - 13.50%
  • Foreclosure charges: 5.75% of principle outstanding.

 

Eligibility  of Citibank Car Loan

Following are the eligibility of Citibank Car Loan :

 

Salaried individuals

  • The applicant's minimum age: 21 years.
  • Car loan applicants at maturity of age: 60 years.
  • Minimum employment: 1 year 2 years of current employment.
  • Gross domestic income i.e. spouse's income, including: 100,000 rupees net annual income.
  • Telephone: housing must be on.

 

Self employed individuals

  • The applicant minimum age: 28 years.
  • Car loan applicants at maturity of age: 65 years.
  • Minimum employment: at least 3 years.
  • Minimum annual income: RS. 60, 000.
  • Telephone: housing must be on.

 

 

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