Vidharbha Konkan Gramin Bank Car Loan Features
Vidharbha Konkan Gramin Bank Car Loan Approval Process. Vidharbha Konkan Gramin Bank was founded in February 2013 through the merger of the erstwhile Wainganga Krishna Gramin Bank and Vidharbha Kshetriya Gramin Bank. The bank operates in 17 districts in Maharashtra. It has 318 branches, 1 satellite and 84 ultra-small branches to provide various banking facilities and services to its clients. The objectives of the Bank are to improve the economy of the rural, semi-urban/urban centres by providing financial and other support for agriculture, trade, commerce, industry and other productive activities.
- The loan is issued for the purchase of a new or a used four-wheeler vehicle.
- Minimum monthly take away salary/income after all deductions including proposed EMI should be Rs.3500/-.
- All deductions including the proposed EMI should be less than 65% of gross income.
- The income of the spouse can be clubbed together.
- The maximum amount issued by the bank is Rs 20,00,000.
- The maximum repayment period for new cars – 84 months and used cars — 64 months.
- Only individuals can avail of this scheme.
Vidharbha Konkan Gramin Bank Car Loan Eligibility
Vidharbha Konkan Gramin Bank Car Loan Documents Required
Vidharbha Konkan Gramin Bank Car Loan Approval Process
The Vidharbha Konkan Gramin Bank Car Loan Approval Process is simple and easy to complete, the process includes the following steps –
- You can apply for a car loan by visiting the bank’s website or by visiting the bank’s local branch office.
- While applying online, make sure to include all the necessary information and submit the required documents.
- The bank evaluates your eligibility and verifies the documents submitted, based on that the loan is approved.
- If the eligibility criteria are met and the documents are correct, the loan is approved.
- Then, the amount is deposited in the borrower’s bank account.
FAQs on Vidharbha Konkan Gramin Bank Car Loan Approval Process
✅ Do I have to enlist any collateral for a car loan?
Yes, since a car loan is a secured loan, the borrower must enlist the new/used car purchased by them with the loan amount as collateral with the bank.
✅ Can I negotiate the interest rate on a car loan?
Yes, generally, car loan interest rates are variable. An applicant can negotiate the interest rate based on their income stability, CIBIL score, repayment capacity and the existing relationship with the bank.
✅ What is the loan repayment tenure offered by banks?
Generally, banks and financial institutions offer repayment tenures ranging from 1 to 7 years. Visit Dialabank for more information.