Used Car Loan Malout

Best Banks for Used Car Loan in Malout

Used Car Loan Malout Features

Need a new car? But running out of budget? What if you can still get a car?Yes! You can get your own car even if you’re running out of the budget. You just need to apply for a car loan. There is a  loan available on a wide range of car models at a low rate of interests. So, get your car now with the help of car loan.

The main features of a car loan in Malout are:

• Avail of loans at an affordable rate of interests.
• You can easily get a car loan in Malout as almost all banks provide car loans in Malout
• You will get updates on your loan application
• There are also offers available on specific models**(terms and conditions apply)
• Get loans on used cars as well.
• Car loans are easily available through DialaBank

Used Car Loan Malout Interest Rate

To check Car Loan Interest Rate for all major banks you can visit: Car Loan Interest Rates

Used Car Loan Malout Documents Required

For Salaried:

• Identity & Address Proof: Valid Passport, Permanent Driving license [recent, legible, laminate], Voters ID Card, Job card issued by NREGA, Letter issued by the National Population Register containing details of name & address

• Income proof: Latest Salary Slip, Latest Form 16/Latest ITR, Last 6 months bank statement

• Sign verification proof: Passport Copy, Photo Driving License with DOB (recent, legible, laminated), Credit Card Statement with Credit Card Copy, Banker’s Verification, Copy of Margin Money Paid to the Bank

For Self Employed:

• Memorandum and Articles of Association/Certificate of Incorporation as age proof
• Memorandum and Articles of Association/Certificate of Incorporation as identity proof
• Latest ITR and audited balance sheet along with profit & loss account as proof of income
• Documents required for address proof:- Memorandum and Articles of Association, Certification of Incorporation, Telephone Bill, Electricity Bill

• Documents required for sign verification proof:- Passport copy, Photo Driving License with DOB (recent, legible, laminated), Banker’s verification, Copy of Margin Money Paid to the Bank

• Also, the used car loan can be borrowed in the following type of firms as well:
  • Partnership Firms
  • Sole Proprietorship
  • Public Limited Companies

Used Car Loan Malout Eligibility Criteria

For Salaried:-

1. This includes doctors, CAs, employees of private limited companies, employees from public sector undertakings, including central, state, and local bodies
2. The Minimum age of the candidate should be 21 years and maximum age should be 60 years
3. Individuals who have had a job for at least 2 years, with a minimum of 1 year with the current employer are eligible
4. Minimum Annual Income should be Rs 2,50,000

For Self-Employed:-

1. The Minimum age:- 21 years
2. The maximum age:-60 years
3. Only Individuals who have been in business for a minimum of 3 years are eligible
4. An Individual  should earn at least Rs 2,50,000 per anum
5. This includes individuals  who own a private company in the business of manufacturing, trading, or services

Used Car Loan for Major Car Manufacturers in Malout

TABLE WILL APPEAR

Processing Fees / Prepayment Charges on Used Car Loan Malout

CIBIL Score Required for Used Car Loan in Malout

The CIBIL score is referred to as what defines your ability to pay off your credits. A higher credit score means good credit history and makes your car loan application process smooth and easy to be processed. Mostly, banks and NBFCs consider a credit score of 720 and above as a good score to approve your loan application process Malout.

This score may again vary from bank to bank. In case of a low CIBIL score than the required value, you will be required to pay a high rate interest rate on the loan amount while if your CIBIL score is good then you may have to pay a low rate of interest. Thus, a CIBIL score is an important factor in a car loan.

Used Car Loan Malout Contact Number

In case of any queries regarding the car loan in Malout, you may contact on the number 9878981166 for any sort of assistance.

Pre Calculated EMI Table for Car Loan Malout

Used Car Loan EMI Calculator

About Malout

Malout is a town in the Muktsar district of the Indian state of Punjab. It is in the southern Punjab “cotton belt”, where production per kilometer is one of the highest in India. The boundaries of Haryana and Rajasthan are 30 kilometres and 65 kilometres, respectively, from the town.

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