Used Car Loan Bhopal

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Used Car Loan Bhopal

Information About Used Car Loans in Bhopal

Used Car Loan Bhopal

In today’s world, buying a car is a tough task as the prices of buying a car are touching the sky. Not many have the funds in their bank account to buy a used vehicle, let alone a brand new car.

The best possible solution to this problem is availing a Used Car Loan that offers monetary help to those who wish to buy a pre-owned vehicle.

Best Banks for a Used Car Loan in Bhopal

  • HDFC Bank
  • Axis Bank
  • Corporation Bank
  • Canara Bank

Used Car Loan Bhopal Features

  • Loan Amount Avail of loans up to Rs.2.5 crore on a wide range of used cars and multi-utility vehicles.
  • Flexible Repayment Tenure – Flexible repayment tenures from 12 months to 84 months.
  • Car model should not be older than 5 years from the present time
  • Flexible repayment options, which range from 12 to 60 months
  • Hassle free loans – no post dated cheques required
  • Finance up to 92% of the car’s value
  • Choose any car available in India
  • Repay your Loan with easy EMIs
  • Easy and simple documentation.
  • Loan approvals within 24 hours.
  • Quick and easy Processing
  • Attractive interest rates.
  • Unmatched Service
  • Buying assistance

 Used Car Loan Bhopal Interest Rates

Check the Car Loan Interest rates for new cars as well as used cars:

Banks/Rates New Car Loan Interest Rate (Reducing) Used Car Loan  Interest Rate (Reducing) Processing Fee Get The Best Offers
HDFC Bank 10.00% – 11.00% 13.99% – 15.50% Rs. 999 to Rs. 4300 Apply Now
Axis Bank 10.25% – 11:25% 14.50% to 16% Rs. 3500 to Rs. 5500 Apply Now
Bank of Baroda 10.75% N.A. 0.75% Up to 15 Lac Apply Now
Kotak Mahindra Bank 11.50% – 13.50% 17% – 20% Rs.3300 to Rs.4750 Apply Now
Punjab National Bank 10.75% to 11% NA 0.5% to 1.5% Apply Now
State Bank Group 10.50% 17.05% to 17.30% 0.50% Apply Now
Private Bank 10.50% to 11.75% 16.50% to 18.00% Rs.2500 to Rs.5000 Apply Now
Bank of India 10.50% to 13.50% 13.50% to 14.50% 0.50% to Rs.25000 Apply Now
Canara Bank 12.50% Fixed N.A 0.10% of Loan Amount Apply Now
Corporation Bank 13.75% N.A 0.50% Apply Now

Documents Required for Used Car Loan Bhopal

Salaried Individuals

Any of the following documents required for car loan for identity and residence proof:

    • Valid Passport
    • Permanent Driving license
    • Voters ID Card
    • Job card issued by NREGA
    • Letter issued by the National Population Register containing details of name & address

All the following documents as proof of income:

    • Latest Salary Slip
    • Latest Form 16/Latest ITR
    • HDFC Bank corporate salary account statement for salary credits above Rs. 80,000 for the previous 3 months

    Any of the following as sign verification proof:

    • Passport Copy
    • Photo Driving License with DOB
    • Credit Card Statement with Credit Card Copy
    • Banker’s Verification
    • Copy of Margin Money Paid to the Bank

    Self Employed Individuals (Sole Proprietorship):

    Any of the following documents as address proof:

    • Memorandum and Articles of Association
    • Certification of Incorporation
    • Telephone Bill
    • Electricity Bill

    Any of the following as sign verification proof:

    • Passport Copy
    • Photo Driving License with DOB
    • Credit Card Statement with Credit Card Copy
    • Banker’s Verification
    • Copy of Margin Money Paid to the Bank


  • The following points need to be kept in mind while checking the Car loan Eligibility criteria:Salaried Individuals:
      • This includes doctors, CAs, employees of private limited companies, employees from public sector undertakings, including central, state and local bodies
      • Individuals who are a minimum of 21 years of age at the time of applying for the loan, and no older than 60 at the end of the loan tenure
      • Individuals who have had a job for at least 2 years, with a minimum of 1 year with the current employer
      • Those who earn a minimum of Rs. 2,50,000 per year, including the income of the spouse

    Self Employed Individuals (Sole Proprietorship):