Used Car Loan Muktsar

Best Banks for Used Car Loan in Muktsar

Used Car Loan Muktsar Features

Tired of traveling by public transport? Wishing to have a car? But buying a car may not be budget-friendly, so you can always go for a car loan. You can even get a car loan on used cars. The following details will help you to get the car loan.

The main features of a car loan in Muktsar are:

• Car loans are available at lower interest rates on a wide range of cars
• The Documentation process is very quick.
• Almost all major banks and NBFCs offer car loans in Muktsar
• You can get car loans easily through Dialabank

Used Car Loan Muktsar Interest Rate

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

Apply for a Car Loan

Used Car Loan Muktsar Documents Required

Documents required for car loan are as followed:

For Salaried:

• For 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

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

• For 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 Muktsar Eligibility Criteria

The car loan eligibility requirements are as followed:

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

Used Car Loan for Major Car Manufacturers in Muktsar

TABLE WILL APPEAR

Processing Fees / Prepayment Charges on Used Car Loan Muktsar

CIBIL Score Required for Used Car Loan in Muktsar

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 Muktsar.

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 Muktsar Contact Number

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

Pre Calculated EMI Table for Car Loan Muktsar

Used Car Loan EMI Calculator

About Muktsar

Muktsar is a city and district headquarters for the district of Sri Muktsar Sahib, located in Punjab, India. Historically known as Khidrana or Khidrane di dhab, the city was made the district headquarters in 1995.  The government officially changed the name of the city to Sri Muktsar Sahib in 2012, though the city is still primarily referred to by its unofficial name – Muktsar.

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