All About Used Car Loan Visakhapatnam
Having your own car is always convenient to go anywhere, and it saves your time and expenses as well. You are no longer required to depend on others and the schedule of public transport. Here, we provide you with the facility of Used Car Loan Visakhapatnam at an affordable interest rate so that you can avail this and enjoy the ride of your car.
Used Car Loan Visakhapatnam Interest Rate
The interest rate charged on a Used Car Loan is 14% of the total amount. This interest is applied on the basis of reducing method. For example, if you procure an investment of Rs.10 lacs and you have paid off Rs.4 lacs, then the interest would be charged at remaining 6lacs and not the entire amount of 10 lacs.
Why should one choose Used Car Loan Visakhapatnam?
- Easy repayment of the loan amount.
- Instant funding of loan amount.
- Quick disbursal of loan.
- Loan Tenure varies from 1 to 7 years.
- Affordable rate of Interest.
- Quickly and hassle-free documentation.
- No hidden charges.
Eligibility Criteria of Used Car Loan Visakhapatnam
- 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 Visakhapatnam
Following are the documents required for Used Car Loan:
- Identity Proof: Aadhar Card, Voters ID card, PAN Card, Copy of Passport, Driving License.
- Income Proof: For Salaried, latest salary slip of 3 months/ For Self-Employed, copy of ITR filed of the last two years.
- Address Proof: Aadhar Card, Electricity Bill (if tenant), Passport Copy, Driving License, Voters ID Card.
- Bank Statement: Copy of active bank statement of last six months.
Additional information for Used Car Loan Visakhapatnam
- 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 Visakhapatnam 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.
Visakhapatnam is a city in Andhra Pradesh, India on the Bay of Bengal. It’s famous for its many beaches, including Ramakrishna Beach, home to a preserved submarine at the Kursura Submarine Museum. 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 Visakhapatnam
- 1.1 Used Car Loan Visakhapatnam Interest Rate
- 1.2 Why should one choose Used Car Loan Visakhapatnam?
- 1.3 Eligibility Criteria of Used Car Loan Visakhapatnam
- 1.4 Documents Required for Used Car Loan Visakhapatnam
- 1.5 Additional information for Used Car Loan Visakhapatnam
- 1.6 How to Apply for Visakhapatnam Used Car Loan?
- 1.7 About Visakhapatnam
- 1.8 Used Car Loan Providers (Click to Apply)