Car Loan Batala

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About Car Loan Batala

Car Loan Batala

Purchasing a car is the dream of every Indian and today it becomes the status symbol of everyone. Nowadays, several banks and lending institutions provide a car loan at the lowest interest rate and affordable EMIs.

A car loan can be helpful for those consumers who want to buy a new car but they do not get the car because of lack of money. It helps the borrower to build their credit history if the borrowers make their monthly payments on time.

Find the Best Rate on Car Loan Batala

Best Rates On Car Loan are as follow:

Interest Rates

10.25%

Collateral Required

Hypothecation of the car

Loan Tenure

1 Yr to 5 Years

Max Funding

Upto 90% of Car Value

Pre Closure Charges

0 % to 4 % of the outstanding loan amount

Find the Most Suitable offer for Car Loan Batala

Following are the most suitable offers for Car Loan:

  • Personalized Service: Our trained Relationship Managers will understand your requirements and your profile and help you find the most suitable Car Loan offer.
  • Rate Comparison: We help you understand the details of all costs involved in taking a Car Loan and help you find the Cheapest Offer.
  • Research: Benefit from our detailed research on all the products from the leading Car Loan players in the market and make the right choice.
  • Zero Charges: Dialabank offers personalized service to its customers at zero fees. Use our services to find the right Car Loan deal at no extra cost.
  • Unbiased and Transparent Search: Our objective is to simplify your Car Loan search and we provide information in an unbiased and transparent manner.

Features of Car Loan Batala

Following are the features Car Loan:

  • Upto 90% funding available for new cars
  • Upto 80% funding available for used cars
  • Get maximum loan amount up to 3 times the annual salary (for salaried professionals) or 6 times the annual income (for self-employed professionals).
  • Loan period is usually between 1 to 5 years.
  • Interest is calculated on the basis of compound interest.
  • Equated Monthly Instalment (EMI) is worked out for repayment.
  • Early settlement of the pending amount is available subject to pre-payment penalty.

Apply For Car Loan

Documentation Requirement for Car Loan Batala

While Availing for instant Car loans some important documents are required. Some of them are mentioned as under:

  • Identity Proofs: PAN Card, Driving License, Passport or Voters ID
  • Monthly income proof: salary receipt for salaried persons and last three years of IT return for businessmen
  • Proof of Address: Electricity Bill, Ration Card, Life Insurance Policy, etc.
  • Bank Passbook transactions of the last 6 months
  • Previous 3 years IT Returns for self-employed
  • 2 Passport size photographs

Eligibility Criteria of Car Loan Batala

Following are the Eligibility of Car Loan:

  • Minimum Age of Applicant: 21 years
  • Maximum Age: 58 years (at the time of the maturity of the loan)
  • Minimum Employment: 1 year in current employment and a minimum of 2 years of employment in general
  • Minimum Annual Income: Rs 100,000 (net)

Benefits of Car Loan Batala

Following are the benefits of Car Loan:

  • One of the most important benefits is that you save your precious time by applying online, as the Car loan process is quite simple. Your Car loan gets approved within a day or even on the same day of application
  • Within a few minutes, you will receive an extended list of e-mails from lenders who will avail your online car loan. At the same time, you can compare the different Car loan terms and choose the best one available.
  • In addition to all these, the lenders also facilitate the bad credit holders with these loans. As well, the lenders also offer bad credit Car loan for individuals having bad credit.

Factors that affect Car Loan Interest Rates

1.  Credit history: The interest rate depends on the credit history you have built in past years, the high cibil score will not only help you in getting a loan but will also empower you with strong bargaining power.

2.  Income level: Higher the income better are the chances for the approval of a higher loan amount.

3.  The Amount of down payment: Higher the down payment made lesser will be the amount that the bank will have to lend you. As a result, the bank’s risk will go down. Also, it shows that your financial position is sound. You may get a loan at a lower interest rate from the bank.

4.  Tenure of the loan: Car loan is generally available for the tenure of up to 7 years.  It is generally seen that banks charge the higher interest rate for a loan of a shorter time period and vice versa. Longer tenors will enhance repayment capacity.

5.  Car model and age: It is necessary for the bank to consider the car model in deciding the interest rate as on sale every model may not fetch the expected price. New cars are more easily financed than used cars; a high-end model will be expensive which means the borrower has to be able to pay the required down payment.

Batala is the eighth largest city in the state of Punjab, India in terms of population after Ludhiana, Amritsar, Jalandhar, Patiala, Bathinda Mohali and Hoshiarpur. Batala was once known as the Iron Bird of Asia as it produced the highest amount of C.I. Casting, agricultural and mechanical machinery. Batala is still one of the leading cities in Northern the  India in the manufacturing of C.I Casting and mechanical machinery. It’s also an agricultural marketplace and industrial center. Cotton ginning, weaving, sugar refining, and rice milling are some of the other industries taking place here.

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