Meghalaya Rural Bank Car Loan Approval Process

Meghalaya Rural Bank Car Loan Features

Buying a car can be difficult but it is an extremely important mode of transport for us. Therefore, buying yourself your dream car Meghalaya Rural Bank offers a car loan that will be helping you finance your car purchase.

The interest rates are low, you can get 100% of the on-road price as a loan if you have a good credit score, and the tenure is up to 7 years with an option of having more years as your tenure but its advice against it.

The car that you will be purchasing will be put up as security for the loan because then you can’t sell your car before you pay off the loan completely as it is in the bank’s possession.

You can visit dialabank for more Meghalaya Rural Bank car loan information or we can have one of our officers help you throughout the process without charging you anything extra.

Meghalaya Rural Bank Car Loan Eligibility

Meghalaya Rural Bank Car Loan Documents Required

Meghalaya Rural Bank Car Loan Approval Process

1. You can visit the nearest Meghalaya Rural Bank branch.
2. You can call them on their customer service number.
3. Or you can visit dialabank and apply for the Meghalaya Rural Bank car loan from there.
4. After checking your credit score, and after the documentation is done your loan would be approved with a minimum of 85% of the on-road funding with an interest rate that would suit your requirements.

FAQs on Meghalaya Rural Bank Car Loan Approval Process

✅ Can I pay my whole loan ahead of the end of the tenure?

All banks allow you to pay the rest of the loan prematurely if you so wish to do so, but this should be done after at least 6 months. Though you will be allowed to pay the loan back, it might cost you a bit extra as the bank will be losing interest.

✅ Is there a necessity for a guarantor?

There is no need for a guarantor unless you don’t fulfil the minimum income criteria of the bank.

✅ Can I negotiate my car loan interest rate?

You are allowed to negotiate your interest rate but it will depend upon your credit score i.e., your history with previous moneylenders.