Car Loan Salem

Best Banks for Car Loan in Salem

Car Loan Salem Features

The car has become an indispensable part of everybody’s’ life. Without it, no one can imagine his life to run smoothly. But buying a car requires a huge amount of financing and it is quite difficult to arrange finance in limited income. Auto Financing is the best way and a beneficiary method to avail cash in a short period of time.

A car loan is a financial help provided by banks and NBFC’s to fulfill your dream of having your own car. They provide necessary funding for purchasing a car which can be on Ex-Showroom Price or On-Road Price of the car. A car loan is a secured loan with easy repayment options. The loan amount is offered on Interest charges which vary from bank to bank. One can pay for the vehicle in easy installments.

Some of the features of car loan Salem are:

1. Easy monthly repayment options
2. Instantly available
3. Loan Tenure period varies from 1 to 7 years
4. Affordable interest Rates
5. No hidden charges
6. Quick approval with minimum documentation

Car Loan Salem Interest Rate

To check Personal Loan Interest Rate for all major banks you can visit: Car Loan Interest Rates

Car Loan Salem Documents Required

For Salaried Individuals:

1. Identity Proof: Copy of Passport, Driving License, PAN Card, Electoral Photo ID card can be used as ID proof.
2. Income Proof: 3 months or 6 months salary slip with Income Tax Return
3. Residence Proof: Driving License, Electricity Bill, PAN Card, Voter ID Card, and Life Insurance Policy are valid address proofs.
4. Past six months’ bank statement

For Self-employed individuals:

1. Identity Proof: Copy of Passport, Driving License, PAN Card, Electoral Photo ID card can be used as ID proof.
2. Income Proof: Income Tax Return.
3. Residence Proof: Driving License, Electricity Bill, PAN Card, Voter ID Card, and Life Insurance Policy are valid address proofs.
4. Past six months’ bank statement

Car Loan Salem Eligibility Criteria

1. The car loan eligibility requirements are as followed in Salem:
   

   For Salaried Individuals:

   1. The minimum age required for the car loan is 21 years.
   2. The maximum age at the loan maturity time ought to be 65 years.
   3. The salaried candidate should be employed for a year in current employment and a minimum of 2 years of total employment.
   4. The minimum annual income for the salaried candidate should be Rs 1,00,0000 as net annual income.

   For Self-employed Individuals

   1. The minimum age required for the car loan is 21 years.
   2. The maximum age at the loan maturity time ought to be 65 years.
   3. The Self-employed candidate must be running Business for at least three years.
   4. The Self-employed candidate should have a net profit of Rs 60,000 per annum for most standard cars and Rs 1,00,000 per annum for mid-sized elite cars.

How to Apply for Car Loan in Salem?

Applying for a car loan with Dialabank online is an easy process. Follow the steps to apply for a car loan:

• Visit our website at Dialabank.
• Click on the auto loan option and select the car loan option on the menu.
• Fill out the form with the necessary details of your loan requirements.
• Wait for our team of experts to reach to get in touch with you.
• You can also visit the nearest branch or call on 9878981166.

Car Loan for major car manufacturers in Salem

Processing Fees/Prepayment Charges on Car Loan in Salem

CIBIL Score Required for Car Loan in Salem

CIBIL score reflects your credit history in the past as well as your defaults in repayment of your previous loans. A good credit score is considered as 750 and above as most of the financial institutions ask for a high credit score. Every bank and NBFC has different criteria for a minimum CIBIL score they require to process your loan. A Lower CIBIL score than 750 can attract a higher rate of interest.

A very low CIBIL score can lead to rejection of your loan as it is the first thing a bank tracks before processing your loan.

Car Loan Salem Contact Number

To get an instant car loan you can call us on 9878981166 and we would be happy to assist you.

Pre Calculated EMI Table for Car Loan Salem

About Salem

In the southernmost state of Tamil Nadu, Salem is a city and municipal corporation in Salem district. Known as Mani city, it is situated at the base of the popular tourist destination called Yercaud hills. The Corporation of Salem consists of 60 wards and four zonal offices.

Special Note: Banks do not provide Car Loans to bad credit holders, but one can accomplish their financial terms with Gold Loan easily.

Car Loan EMI Calculator Salem

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