Recent times have seen a shocking rise in the demand for Car loans from NRIs. This has been attributed to 2 major factors: the tendency to shop for high-end cars and therefore the increase in the frequency of visits to the Republic of India. An Indian citizen Who resides abroad could be a salaried skilled or is freelance in his country of residence qualifies as an NRI and is eligible to use for Karnataka Bank NRI Car Loan. NRI Car loans ready for getting a replacement or a second user car/automobile.

Karnataka Bank NRI Car loan Interest Rates 

Karnataka Bank NRI Car loan Features

• Documentation: Documents will be submitted at the branch of the bank in your residing country, or they will be sent online or through your co-applicant.
• Amount of loan: The loan quantity that may be sanctioned depends on the involved bank.
• Loan to worth (LTV): LTV is that the magnitude relation of the loan quantity that may be borrowed from the bank to the particular worth of the automobile or its ex-showroom worth. Most banks provide 85-100% of the ex-showroom worth as a loan.
• Tenure: Tenure of loan ranges between five to seven years, from the date of purchase of the car.
• Interest rate and alternative charges: there’s no discrepancy within the rate of interest for NRI car loans which is obtainable to resident Indians.

Customers having any query related to Karnataka Bank NRI Car Loan can contact Dialabank at any time.

Karnataka Bank NRI Car loan Eligibility

Karnataka Bank NRI Car loan Documents required

Apply for Karnataka Bank NRI Car Loan with Dialabank

DialaBank helps you with a close comparison of all money products that enables you to investigate varied car loan deals offered within the market online with simply a click. DialaBank is your best agent whereas availing a loan against a car because:

• We are India’s initial money helpline that provides us with an extended tenure of fine experience.
• Based on your needs, we provide you with the simplest online Car Loan schemes offered within the market and assist you in selecting the correct deal for yourself.
• We offer you a doorsill delivery and pickup facility for your documents, which saves it slow and effort.
• We offer you the simplest Car Loan companies’ offers and schemes that you’ll be able to compare against a broad list of parameters.

FAQs on Karnataka Bank NRI Car Loan

✅ What’s the current interest rate on car loans?

The current car loan interest rates range between 6.50% – 20.00%. Currently, Karnataka Bank offers the lowest car loan rate of 6.50%.

✅ What will happen if I am not able to pay 1 month of EMI?

Defaulting the EMIs will adversely affect one’s CIBIL Score and also he/she will face trouble in getting another car loan in future. Banks or NBFCs usually charges a penalty of 1-2% of EMI if it remains unpaid for a period of 30 days after the due date.

✅ How am I able to get a car loan from Karnataka Bank?

Document needed to use for Karnataka Bank car loan:
PAN Card or Aadhaar Card is required for this purpose
Address Proof (Utility bills, Ration Card)
The last two years’ revenue enhancement
Salary slips of one year within the case of salaried candidates.
Quotation from the approved saleroom.