All About Used Car Loan Addanki
Are you not eligible for buying a new car? Buy a used car of your choice with your current eligibility. Get to know your eligibility and other information from DialaBank now.
Interest Rate for Used Car Loan Addanki
The interest rate charged on Used Car Loan Addanki is 14% of total amount. This interest is charged on the basis of reducing method.
Used Car Loan Addanki gets disbursed in your bank account in just 2-3 days.
Documentation for Used Car Loan Addanki
Documents required for Used Car Loan Addanki are as follows:
Income Proof: Latest 3 months salary slip and 6 months bank statement is required for salaried employees and Last 2 ITR filed and 6 months bank statement is required for self employed persons.
Identity Proof: Passport copy/ PAN Card/ Voters ID card/ Driving License/ Aadhar Card
RC and Insurance Copy
Rent agreement is needed only in case of government employees
Address Proof: Ration card / Driving license / Voters card / Passport Copy / Telephone Bill / Electricity Bill / Life Insurance Policy / PAN Card / Aadhar Card
Bank Statement: Bank statements for the last six months should also be available with the applicant
Eligibility for Used Car Loan Addanki
For self employed
- The age of the applicant should be 30 years. In case the applicant is less than 30 years, he would need the co applicant.
- The co applicant should be of 25 years and currently working.
- CIBIL of the applicant needs to be 700.
- The applicant must have filed an ITR of Rs.2.5 lakhs for past 2 years.
For salaried employees
- The income of the applicant should be Rs. 24,000 per month.
- Minimum age of the applicant needs to be 21 years and maximum age should be 60 years.
- CIBIL of the applicant should be atleast 700.
- Bank’s internal customer are given used car loan in case they are rented.
Note: Used Car Loan is not given to rented customers.
Benefits of Used Car Loan Addanki
- The cost of a used car will be less than a new car.
- Applicant can avail a used car loan easily in case he is not eligible for new car loan.
- Interest rate on Used Car Loan Addanki is less as compared to new car loan.
- The time required in processing of Used Car Loan Addanki is also very less.
- The car is of the customer only and the bank does not have any right on it unless he is paying the EMI’s.
Additional information for Used Car Loan Addanki
- The amount of loan the the customer can take starts from Rs. 1 lakhs.
- Car Loan is given on car models of after 2013.
- A customer with CIBIL 1,0 and -1 can also apply for loan.
- The amount of loan that the customer will get is 85% of Insurance Value.
- In case of luxury cars, the loan can be given for models after 2011.
- Time period for which the customer can avail the loan is 24 months to 60 months.
How to Apply for Used Car Loan Addanki?
Addanki is a city located in the district Parakasam of the state Andhra Pradesh, India. For more information on Used Car Loan, you can visit our official website.
Leading Used Car Loan Providers (Click to Apply)
Table of Contents
- 1 All About Used Car Loan Addanki
- 1.1 Interest Rate for Used Car Loan Addanki
- 1.2 Documentation for Used Car Loan Addanki
- 1.3 Eligibility for Used Car Loan Addanki
- 1.4 Benefits of Used Car Loan Addanki
- 1.5 Additional information for Used Car Loan Addanki
- 1.6 How to Apply for Used Car Loan Addanki?
- 1.7 About Addanki
- 1.8 Leading Used Car Loan Providers (Click to Apply)