Used Car Loan Faridkot

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Used Car Loan Faridkot

Used Car Loan FaridkotUsed Car Loan Faridkot

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 Faridkot

Banks/Rates Get The Best Offers
HDFC Bank Apply Now
Axis Bank Apply Now
Canara Bank Apply Now
Kotak Mahindra Bank Apply Now
State Bank Group Apply Now
ICICI Bank Apply Now
Bank of India Apply Now
Bank of Baroda Apply Now

Used Car Loan Faridkot Features

  • Loan Amount Avail of loans up to Rs.2.5 crore on a wide range of used cars.
  • Car model should not be older than 5 years from the present time.
  • Flexible Repayment Tenure – From 12 months to 84 months.
  • Hassle free loans – no post dated cheques required.
  • Finance up to 92% of the car’s value.
  • Repay your Loan with easy EMIs.
  • Loan approvals within 24 hours.
  • Quick and easy Processing

Used Car Loan Faridkot

               Used Car Loan Faridkot Interest Rates

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

Banks/Rates New Car Loan Interest Rate Used Car Loan  Interest Rate
HDFC Bank 10.00% – 11.00% 13.99% – 15.50%
Axis Bank 10.25% – 11:25% 14.50% to 16%
Canara Bank 10.75% N.A.
Kotak Mahindra Bank 11.50% – 13.50% 17% – 20%
State Bank Group 10.50% 17.05% to 17.30%
ICICI Bank 10.50% to 11.75% 16.50% to 18.00%
Bank of India 10.50% to 13.50% 13.50% to 14.50%
Bank of Baroda 12.50% Fixed N.A

    Documents Required for Used Car Loan Faridkot

     Salaried Individuals  Used Car Loan Faridkot

Any of the following documents required for a 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
  • Eligibility to apply for a Pre-Owned Car Loan Faridkot:

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):

        • This includes self-employed sole proprietors in the business of manufacturing, trading or services
        • Individuals who are a minimum of 25 years of age at the time of applying for the loan, and no older than 65 at the end of the loan tenure
        • Those who have been in business for a minimum of 3 years
        • Should earn at least Rs. 2,50,000 per annum

 Used Car Loan for Major Car Manufacturers in Faridkot

Apply For Car Loan Online

Used Car Loan Faridkot

Used Car Loan Faridkot

Interest Rates

Banks Processing Fee
HDFC Bank Rs.1.25 per Rs.1,000 of loan amount to Rs.200 per lakh
Axis Bank Rs.1,000 + GST to Rs.2,500 +GST
Canara Bank Rs.500
Kotak Mahindra Bank Rs.1,000 to Rs.1,500
State Bank Group Rs.1,000 + taxes
ICICI Bank Rs.3,500 – Rs.15,000
Bank of India Rs.3,000 – Rs.10,000
Bank of Baroda Rs.3,500 – Rs.5,500

Used Car Loan Faridkot Contact Number: