Best Banks for Car Loan in Mumbai
Car Loan Mumbai Features
Thinking of purchasing a new car? But don’t have the required funds for it? Do not worry! A car loan is here for you. A car loan is a means of funding or financial help provided by banks and NBFCs to the applicants at an affordable rate of interest to aid them in buying a car, whether new or used.
Since cars have become a necessity for everyone, but the cost of cars is growing rapidly daily. This is where a car loan comes into play and fulfills your desire to be the owner of your dream car. The main features of a car loan in Mumbai are:
- Car loans are available at low-interest rates
- Almost all major banks and NBFCs offer car loans in Mumbai
- The documentation process is quick and hassle-free
- Car loans are easily available through DialaBank
Car Loan Mumbai Interest Rate
To check Personal Loan Interest Rate for all major banks you can visit: Car Loan Interest Rates
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Car Loan Mumbai Documents Required
For Salaried:-
- Identity Proof: PAN Card, Voters ID card, Passport copy, Driving License
- Income Proof: Latest 3-month salary slip with form 16
- Address Proof: Driving license / Voters card / Passport Copy / Telephone Bill / Ration card / Electricity Bill / Life Insurance Policy /PAN Card
- Bank Statement: Last 6 months.
For Self Employed:-
- Identity Proof: PAN Card, Voters ID card, Passport copy, Driving License
- Income Proof: Latest ITR
- Address Proof: Voters card / Passport Copy / Ration card / Telephone Bill / Driving license / Electricity Bill / Life Insurance Policy /PAN Card
- Bank Statement: Last 6 months.
Car Loan Mumbai Eligibility Criteria
For Salaried:-
- Minimum age: 21 years
- Maximum age at loan maturity: 65 years
- Minimum employment: 1 year in current employment and a minimum of 2 years of employment
- Minimum Annual Income: Rs 1,00,000 net annual income
For Self-Employed:-
- Minimum age: 21 years
- Maximum age at loan maturity: 65 years
- Minimum employment: at smallest 3 years in sales
- Minimum Annual Income: Net profit Rs. 60,000 p.a for regular cars and Rs.1,00,000 p.a. for mid-sized and superior cars
How to Apply for Car Loan in Mumbai?
Availing a car loan Mumbai is an easy process with DialaBank. Follow the following steps to avail the best offers:
- Visit our website Dialabank
- Click on the car loan option available in the menu
- Fill in the details regarding the car type and your income
- Wait as our relationship manager will soon get in touch with you on your provided number.
- You may also contact our relationship managers on the number 9878981166 in case of any queries regarding the loan.
- For availing a car loan offline you will have to visit the branch personally, which might turn to be hectic for you.
Car Loan for Major Car Manufacturers in Chandigarh
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Processing Fees / Prepayment Charges on Car Loan Mumbai
CIBIL Score Required for Car Loan in Mumbai
The Cibil score is referred to as what defines your ability to pay off your credits. A higher Credit score means good credit history and makes your car loan application process smooth and easy to be processed. Mostly, banks and NBFCs consider a credit score of 750 and above as a good score to approve your loan application process in Mumbai.
This score may again vary from bank to bank. In case of a low CIBIL score than the required value, you will be required to pay a high rate interest rate on the loan amount while if your CIBIL score is good then you may have to pay a low rate of interest. Thus, a CIBIL score is an important factor in a car loan.
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Car Loan Mumbai Contact Number
In case of any queries regarding the car loan in Mumbai, you may contact on the number 9878981166 for any sort of assistance.
Pre Calculated EMI Table for Car Loan Mumbai
About Mumbai
Mumbai previously known as Bombay is a densely populated city on India’s west coast. It is India’s largest city and an important financial center. It is home to the Gateway of India stone arch, built by the British Raj in 1924. Offshore, nearby Elephanta Island the city holds ancient cave temples dedicated to the Hindu god Shiva. The Bollywood industry is also located in Mumbai city.
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