Pallavan Grama Bank Car Loan Approval Process

Pallavan Grama Bank Car Loan Features

A Car Loan allows you to finance a car. Most banks offer up to 90% of the on-road price of the car. The repayment tenure ranges from 1 to 8 years and depends on bank to bank. The loan is to be repaid off in Equated Monthly Installments (EMIs) whose major component for the first few months is interest rather than the principal amount.

Pallavan Grama Bank Car loanPallavan Grama Bank operates in various cities of Tamil Nadu and offers a Car Loan with basic documentation and at a quick processing time.

The various features of Pallavan Grama Bank Car Loan are:

  • Vehicle loans are offered for the purchase of a New Car, a Used Car, a Van/Bus for Educational Institutions, Auto (3 wheeler) and 2 wheeler vehicles for their customers.
  • Individuals, Firms, Institutions etc. Excluding SHG / MFI are eligible to apply for the loan.
  • The repayment tenure is of a maximum of 84 months.
  • Fast disbursement of the loan.

Pallavan Grama Bank Car Loan Eligibility

Pallavan Grama Bank Car Loan Documents Required

Pallavan Grama Bank Car Loan Approval Process

Pallavan Grama Bank’s Car Loan approval process is simple:

  1. Visit the nearest branch of your bank.
  2. Fill out the loan application.
  3. Provide all necessary documents with the bank.
  4. Discuss and negotiate on terms and amounts such as prepayment penalties if any, foreclosure charges, loan amount, EMI amount, etc.
  5. After a few days, your loan will get disbursed and you can take home your dream car.

FAQs on Pallavan Grama Bank Car Loan Approval Process

 Can I calculate my Car Loan EMI online?

Yes absolutely! You can calculate and compare EMI for a Car Loan with Dialabank easily for free. Click here.

✅ Does Car Loan die with you?

Unfortunately no. Car Loans are not forgiven after the death of the owner. The loan simply shifts on to the heir or the person who inherits the vehicle who needs to decide whether they want to keep the car and pay for it or give the car to the bank for payment of the loan.

✅ Do I need collateral for a Car Loan?

Many banks ask for collateral when offering a Car Loan. Since Car Loans are secured, banks may take your car as collateral. Other assets which can be used for collateral are property, bonds, gold, savings certificates, deposits and vehicles.