Advantage of car loan low interest rates with banks details
What are the advantages of car loan low interest rate ?
If you buy a luxury car higher down payment will mean it you will need to availa lower amount to buy a car, when you avail a lower amount ,there is another way buy a luxury car chances that bank or lender that bank or lender offer you car loan at low interest rates .simply mean if the loan amount is lower , the repayments will be quicker.
What are the benefits that you will get to enjoy ?
No need to use your saving:
When the availability of car loan , person not required to shell out their saving or not wait to much to buy their dream vehicle
Fast loan processing:
Car loan borrowed offers against the car you wish to buy , it thus involved simply minimal documentation and lenient eligibility criteria
Flexibility to choose the Tenure :
As you know many of the banks offer car Tenure maximum seven years but also have another way to choose your car loan Tenure as per your conveniences
Pre payment facility:
Simple that in a car loan you can also pre pay your loan before the end of the Tenure of the car loan by using this one facility. One bank to another bank vary from term and condition . Some finance car companies that allow you to pre closes the car loan only that after the completing the specific period of the car loan. While the some banks allow you prepay offers whenever you want as you wish .charges will be apply able for pre paying your vehicle loan and varies are different lenders.
Availability of different pre payment options:
In a auto loan , that offer you five different different pre payment ways which you can repay your loan that are ballon EMI , step up EMI , regular EMI , step down EMI ,special tie up EMI.
Banks
IDBI BANK
Processing fee:
Rs 1000 ( one thousand) +applicable fee
Interest rates:
9.10% to 9.70 %
Eligibility:
Age to be individual 18 to 70 year of age
Annual income 2.4 lakh (Two lakh four thousand)
Loan Tenure
Upto 7 year
Loan amount
Offer higher sanication of loan amount no maximum loan amount .
Features:
Individual can be paid EMI through standings instruction or ECS (electronic clearing system)
Car dealers tie up with her bank and also offer manufactured to install best deal to the browwers
Foreclosure allowed six months of loan Tenure and part payment also use it .no penalty if you prepaid using own fund .
IDBI bank car loan can be used to buy huge range of car ,SUV'S and so on expensive.
PUNJAB NATIONAL BANK
Processing fees:
Loan up to Rs 6,00,000( six lakh) to rs 1,000(one thousand) Loan above Rs 6,00,000 (six lakh)to RS 1,500( one thousand five hundred)
Interest rate :
9.10% to 9.70 %
Eligibility:
Minimum net worth monthly income Rs 20,000( twenty thousand)
Loan Tenure:
Upto 7 (seven) year
Loan amount:
Maximum loan rs 1,00,00,000 ( one crore) or 25x net monthly income .
Features:
Individual and businesses can also apply for this loan car loan private uses or businesses processes.
The banks offer to the browwers both fixed and floating interest on the car loan.
For the benefits of government employees , Punjab national bank offer to government employees under the car loan the name 'pNB pride car loan '.
Third party grantees or a collateral security must be provided to avail a punjab national bank car loan but based through on a individual's merit of this condition can be wavied out off.
The banks has paterend with leading car manufacturers such as force motor , tata motor , Honda car India , maruti Suzuki India , mahindra and mahindra to offer best deal on car loan enjoy this offer
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