All About Used Car Loan Alappuzha
Want a car for a short period of time rather than for a long period? Why to waste your money on a new car when you can easily get used a car and that too on a lesser amount. Apply from DialaBank today only and get Used Car Loan easily.
Documentation for Used Car Loan Alappuzha
Documents required for Used Car Loan are as follows:
For salaried employees
- Identity Proof: Pan Card, Aadhar Card
- Applicant should have 3 months salary slip, 6 months bank statement
- RC and Insurance Copy ( insurance should be updated)
- Rent agreement in case the candidate is rented and a government employee.
For self employed
- Identity Proof: Pan Card, Aadhar Card
- 6 months bank statement is required
- Documents of ITR are also necessary.
Interest Rate for Used Car Loan
The interest rate charged on used car loan is 14% of total amount. This interest is applied on the basis of reducing method.
The Loan gets disbursed in your bank account in just 2-3 days.
Eligibility for Used Car Loan Alappuzha
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.
For self employed
- 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.
Note: Used Car Loan is not given to rented customers.
Benefits of Used Car Loan
- You can save money by buying used car and use the left over money for another purpose.
- Tenure also varies from 2 years to 5 years, so the applicant the choose the period for which he wants to avail the Car Loan.
- You get the loan amount within 72 hours in your bank account.
- The documentation for Used Car Loan is less.
- CIBIL required for Used Car Loan is also less.
- The interest rate on these loans are also very less.
Additional information for Used Car Loan Alappuzha
- Car Loan is given on car models of after 2013.
- In case of luxury cars, the loan can be given for models after 2011.
- The amount of loan the the customer can take starts from Rs.1 lakhs.
- A customer with CIBIL 1,0 and -1 can also apply for loan.
- Time period for which the customer can avail the loan is 24 months to 60 months.
- The amount of loan that the customer will get is 85% of Insurance Value.
How to Apply for Used Car Loan?
About Alappuzha
Alappuzha is a city located on the Laccadive Sea in the southern Indian state of Kerala. For more information on Used Car Loan, you can visit our official website.