Utkal Grameen Bank NRI Car Loan
It has been discovered that the demand for car loans from NRIs has increased dramatically. This has been ascribed to two key factors: the desire to search for high-end automobiles and, as a result, an increase in the number of visitors to India. An Indian resident who lives abroad and works as a salaried employee or freelancer qualifies as an NRI and is qualified to apply for a Utkal Grameen Bank NRI Car Loan.
Utkal Grameen Bank NRI Car loan Interest Rates
Utkal Grameen Bank NRI Car loan Features
- Amount of loan: The amount of a loan that can be approved is determined by the bank involved.
- Loan to worth (LTV): LTV is the magnitude relationship between the loan amount that can be borrowed from the bank and the particular value of the car or its ex-showroom value. Most banks lend 85-100 per cent of the vehicle’s ex-showroom value.
- Tenure: From the date of purchase of the car, the loan term spans from five to seven years.
- Interest rate and alternative charges: There is no difference in the rate of interest for NRI vehicle loans and resident Indian car loans.
- Documentation: Documents will be submitted in a bank office in your home country, or they may be delivered electronically or through your co-applicant.
Customers having any query related to Utkal Grameen Bank NRI Car Loan can contact Dialabank at any time.
Utkal Grameen Bank NRI Car loan Eligibility
Utkal Grameen Bank NRI Car loan Documents required
Apply for Utkal Grameen Bank NRI Car Loan with Dialabank
Choose DialaBank to apply for a Utkal Grameen Bank NRI Auto Loan since it allows you to compare all money products and explore various car loan options available in the market with just one click. DialaBank is your best bet when it comes to getting an auto loan because:
- We are India’s first money helpline, and we have a long history of excellent service.
- We supply you with the simplest online Car Loan schemes available in the industry based on your demands and assist you in selecting the best deal for you.
- We provide you with a doorsill delivery and pickup service for your documents, saving you time and effort.
- We provide you with the most straightforward Car Loan providers’ offers and programmes, which you can compare against a wide range of criteria.
FAQs on Utkal Grameen Bank NRI Car Loan
✅ What happens if I can’t pay my EMI for one month?
Defaulting on EMIs will lower one’s CIBIL Score and make it more difficult to obtain another vehicle loan in the future. If an EMI is not paid for 30 days after the due date, banks or NBFCs normally apply a penalty of 1-2 per cent of the EMI.
✅ Is it possible for an NRI to buy a car in India?
In the Republic of India, there are no restrictions on NRIs buying a car (or cars).
✅ What are the requirements for the current vehicle loan interest rate?
The current interest rates on car loans range from 6.50 per cent to 20.00 per cent. Utkal Grameen Bank now has the lowest car loan rate of 6.50 per cent.