All about online car loan
Today when we think to buy a car we go into deep thinking that will be able to afford but now doesn’t worry everyone can get his/her dream car with a bank loan with pocket-friendly EMI.
What is a car loan?
A car loan is similar to other loans. You can get a car loan from a bank or the showroom from where you are buying a car. The institution will agree to lend you money to buy a car and will say that you have to repay the amount with interest in the allotted time period.
Apply here for a car loan with Dialabank.
Now everyone will able to afford their dream car with a few simple steps
The main issue is while looking for an online car loan because it includes a lot of attention and paperwork then only you can grab the best deal. The other problem is that the car dealer who helps you with finding these loans, don’t tell you regarding the hidden charges that are linked with the loan and the unfavorable clauses within the agreement, something you may not become more acquainted with at the hour of availing the loan, which makes them significantly less secure.
Nowadays have come to increase their business with the helpdesk which helps them to reach out to more people. The online method of use and handling is basic, simple, and quick and in this way spares a great saving of time and cash. The process is see-through so there are no hidden charges or additional charges after signing the agreement.
Features of a Car Loan
- The Interest Rate: 8.50% p.a. onwards.
- The processing fee: 0.25% of the loan amount.
- Loan Time period: 1 year up to 7 years.
- Pre-closure Charges: vary from bank to bank.
- Guarantor requirement: varies from bank to bank.
Eligibility Criteria and Documents Required
- The applicant must have one year of employment with the same employer.
- Applicant should be salaried (working for a government institution or a private company) or Self-Employed for at least three years.
- The age of the applicant needs to be between 18 years and 65 years.
- The applicant must be earning at least 20,000pm.
Car Loan Interest Rates are pretty affordable and its low monthly repayment structure along with minimal documentation requirement makes this type of loan a convenient option for customers.
Car Loan Features
- Instead of buying a car from your savings, you can avail a car loan to buy a good vehicle
- Now you can repay the loan over a period of time
- Its easier to get a car loan in comparison to other loans.
All of this the greatest advantage of applying for an online car loan is that you can undoubtedly look for the best option without venturing out and sitting around from your home and can get the best pocket-friendly options. There are no efforts you can easily check and look after the loan with the best terms and conditions like Minimal interest rate, processing fee as well as prepayment charges and choose which suits you the most and is pocket friendly.
Therefore, the most suitable and appropriate option in the market when you need to buy your dream car is through applying for a car loan online.
Leading Car Loan Providers
There are many major banks and NBFCs providing car loans at low-interest rates and minimal documentation requirements. Some of them are listed below:
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