All About Used Car Loan Hoshangabad
The used car loan is an excellent way for the individual to own a second-hand car at fair interest rates. The individual can also enjoy flexible repayment modes with a quick documentation process.
Interest Rates for Used Car Loan Hoshangabad
The interest rate for a used car loan is provided at 14.00% reducing. For example, if you procure an investment of Rs.5 lacs and you have paid off Rs.3 lacs, then the interest would be charged at remaining 2 lacs and not the entire amount of 5 lacs.
This interest is charged on the basis of reducing method.
Eligibility Criteria of Used Car Loan Hoshangabad
- Firstly, Minimum age of the applicant should be 21 years.
- Secondly, Maximum age of customer should not more than 60 years.
- CIBIL score of the customer should be at least 700 and above
- Minimum employment 1 year in present company and a minimum of 2 years of work in total.
- Monthly income of the customer should be Rs 24,000.
- The minimum age of the borrower should be 30 years. In case the applicant is less than 30 years, he would need the co applicant.
- The age of co applicant should be of 25 years and he/she is currently working somewhere.
- The applicant must have filed an ITR of Rs.2.5 lakhs for past 2 years.
- CIBIL of the applicant needs to be 700 or above.
Note: Used Car Loan is not given to rented customers, unless he/she is a government employee.
Documents for Used Car Loan Hoshangabad
- Identity Proof: PAN Card, Aadhar Card, Passport copy, Voters ID card, and Driving License.
- Residence Proof: Aadhar Card / Driving license/ PAN Card / Ration Card / Voter Card / Telephone Bill / Passport Copy / Life Insurance Policy / Electricity Bill.
- Income Proof: For Salaried employees latest three months salary slip is required along with six months bank statement. For Self- Employed applicant ITR for the last two years is required and six months bank statement.
Features of Used Car Loan Hoshangabad
- Quick disbursal and instant funding.
- Easy repayment options.
- Affordable rate of interest.
- Loan Tenure fall between 1 to 5 years.
- No hidden charges.
- Quickly and hassle-free documentation.
Additional information for Used Car Loan Hoshangabad
- In this, the loan is available only for the car models which are launched after 2013.
- A customer with CIBIL 1,0 and -1 can also apply for loan.
- In case of luxury cars, the loan can be given upto 2011 model.
- The amount of loan that the customer will get is 85% of Insurance Value.
- Time period for which the customer can avail the loan is 24 months to 60 months.
How to Apply for Hoshangabad Used Car Loan?
- First, you need to visit our official site DialaBank.
- After that, apply for Used Car Loan online.
- Enter your contact number and other details so that our team can contact you back.
- DialaBank is the best platform to apply for a used car loan as you will get a loan at affordable rates of interests.
Used Car Loan Providers (Click to Apply)
It is a city in Hoshangabad district of Madhya Pradesh, India, it is also known as Narmadapuram. Now it is effortless to avail used car loan with the help of Dialabank.
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