All About Used Car Loan Machilipatnam
Car is an essential vehicle in today’s world because it saves you from rain, pollution, etc. and it is effortless to get a car with the help of Dialabank Because we provide you with a loan on a used car. So, Now you can get a car within your resources.
Interest Rates for Used Car Loan Machilipatnam
The used car loan is provided at an interest rate of 14.00% reducing. For example, if you procure an investment of Rs.8 lacs and you have paid off Rs.3 lacs, then the interest would be charged at remaining 5 lacs and not the entire amount of 8 lacs. This rate of interest is charged based on the reducing method.
Eligibility Criteria for Used Car Loan Machilipatnam
- First of all, 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 700 or above.
- Next, the applicant should have minimum employment of one year in the present company and a minimum of 2 years of work experience in total.
- Monthly income of the borrower 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 require a 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 the past two 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 required for Used Car Loan Machilipatnam
- Identity Proof: PAN Card, Aadhar Card, Passport, 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 Machilipatnam
- First of all, the loan gets quickly disbursed.
- Secondly, repayment options are easy.
- Affordable rate of interest.
- Then, Loan Tenure fall between 1 to 5 years.
- There are no hidden charges.
- Quickly and hassle-free documentation.
Additional information for Used Car Loan Machilipatnam
- 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 a used car loan.
- In case of luxury cars, the loan can be given up to 2011 model.
- The amount of loan that the customer will get is 85% of Insurance Value.
- The period for which the customer can avail the loan is 24 months to 60 months.
How to Apply for Used Car Loan Machilipatnam?
- 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.
Machilipatnam is a city in Haryana, India. The place is said to have been founded by Karna, a key figure in the epic Mahabharata. Now it is effortless to avail used car loan with the help of DialaBank.
Used Car Loan Providers (Click to Apply)
Table of Contents
- 1 All About Used Car Loan Machilipatnam
- 1.1 Interest Rates for Used Car Loan Machilipatnam
- 1.2 Eligibility Criteria for Used Car Loan Machilipatnam
- 1.3 Documents required for Used Car Loan Machilipatnam
- 1.4 Features of Used Car Loan Machilipatnam
- 1.5 Additional information for Used Car Loan Machilipatnam
- 1.6 How to Apply for Used Car Loan Machilipatnam?
- 1.7 About Machilipatnam
- 1.8 Used Car Loan Providers (Click to Apply)