Uttarbanga Kshetriya Gramin Bank Car Loan Features
A Car Loan allows you to buy the car of your dream. Most banks offer up to 90% of 
the on road price of the car. The repayment tenure varies between 1 to 8 years, depending upon the bank. The loan is to be repaid off in Equated Monthly Installments (EMIs) i.e. a monthly payment of your loan in fixed amounts, whose major component for the first few months is interest rather than the principal amount.
Uttarbanga Kshetriya Gramin Bank is a regional rural bank operating in five districts of West Bengal and has its head office at Coochbehar. Uttarbanga Kshetriya Gramin Bank offers Car Loan at competitive interest rates with a quick processing time.
The various features of Uttarbanga Kshetriya Gramin Bank Car Loan are:
- The attractive interest rate of 8.30%.
- The maximum quantum of loan for the purchase of a four-wheeler is ₹ 20,00,000.
- Maximum 84 EMIs are allowed.
- Eligibility –
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- Farmers having sufficient agriculture land (at least I acre for a two-wheeler, 2 acres for power tiller and 2 hectors for two tractors) with adequate net income from agriculture to meet up the obligation.
- A permanent salaried person whose salary disbursed from their bank and permanent salaried person under tie-up arrangement.
- Businessmen and others have sufficient monthly income to meet up the obligation.
Uttarbanga Kshetriya Gramin Bank Car Loan Eligibility
Uttarbanga Kshetriya Gramin Bank Car Loan Documents Required
Uttarbanga Kshetriya Gramin Bank Car Loan Approval Process
Uttarbanga Kshetriya Gramin Bank’s Car Loan approval process is simple:
- Visit the nearest bank branch.
- Fill out the application for a loan.
- Provide all necessary documents and details to the bank.
- Discuss and negotiate terms and payment amount such as prepayment penalties if any, foreclosure charges, loan amount, EMI amount, etc.
- After a few days, your loan will get disbursed and you can take home your dream car.
FAQs on Uttarbanga Kshetriya Gramin Bank Car Loan Approval Process
✅ Which type of loan is a Car Loan?
Car Loans are a secured type of loan. Secured loans are those where some collateral is involved and the overall risk of the bank is low.
✅ How much Car Loan can I get on ₹40,000 salary?
It is advisable to restrict your Car Loans to not more than 20% of your monthly income.
For example, if you make ₹ 40,000/ month, your monthly car loan EMI should not exceed ₹ 8,000 neither will your bank provide you a loan if your EMI exceeds such limit.
✅ What is the minimum down payment for a car?
When you take a loan, banks will expect you to pay a certain portion (usually 5- 15%) of the car value to the dealer before they release the Car Loan. This is called a down payment. Hence banks may only offer upto 95-85% of the car value as loan.
