There are numerous companies in India offering car loans at a low interest rate. If you have problem in paying the whole amount of car in one go then you can get your car financed. That means paying the whole amount in monthly or yearly installments with a certain interest rate. Are you interested in buying a small car or a big car or a car for luxury purposes?
There are various nationalized banks as well as finance companies offering car loans. Some of the Top Finance Companies providing Car Loans are: HDFC Bank, State Bank Of India, Punjab National Bank, ICICI Bank, Citibank etc.
For availing a car loan you need to apply have to with proper documentation and down payment fees. These car-financing companies have branches all over India. Providing you with variety of services like overdraft facility under which they provide you an overdraft limit or cash upto 90.5% of the assessed value of your vehicle, interest payment is much very flexible, payment mode is fully transparent, longer repayment period, some banks don't take processing fees even and you can easily calculate your installments through EMI Calculator. Getting car loans in India has been very much easy these days!
To apply for a Car Loan you need to fulfill certain criteria to be eligible for availing car loan. Some of the eligibility criteria are age group, employed with a government organization or public enterprise or self- employed and your total annual income. If you are a customer of a certain bank then availing car loan from that bank will be very much easier. Apart from this you need to submit certain documents also for example bank statement, passport size photograph, latest salary slip, Income Tax Returns if you are self-employed individual or professional. The companies offer various Car Loans Schemes to suit your needs and budget. HDFC Bank gives special discount to its prevailing customers. All of their process in undertaken within 48 hours, they give a facility of borrowing upto 90% of the car's invoice value.
State Bank Of India provides with excellent and quick service among many different car loans provider. They have 6000 branches all over the country that deal in car loans. ICICI Bank charges interest rate only on the amount utilized. They don't have a fixed Equated Monthly Installments. You just need to pay 5 % of the amount you utilize each month.
All the procedure, documentation, repayment method etc. varies from company to company. If you need any consultation regarding the same. You can contact us by filling in the form.