Car Loan Roorkee

Best Banks for Car Loans in Roorkee

Car Loan Roorkee Features

Purchasing a car from your own pocket is a difficult task for the single earner of the family, but there is a saying if all of the doors are shut there is always a ray of hope. Thus, Car Financing is the best way to attain cash in a short span of time. It is a better way to arrange funds to purchase the dream car with ease.

A car loan is a financial help provided by banks and NBFC’s to fulfill your dream of having your own car. They provide necessary funding for purchasing a car which can be on Ex-Showroom Price or On-Road Price of the car. A car loan is a secured loan with easy repayment options. The loan amount is offered on Interest charges which vary from bank to bank. One can pay for the vehicle in easy installments.

Some of the features of Car loan Roorkee are:

• Up to 90-95%% funding available for new cars
• Up to 80-85%% funding available for used cars
• The loan period is usually between 1 to 7 years.
• The car loan rate of interest is calculated on the basis of compound interest.
• Equated Monthly Instalment is worked out for repayment.
• Early settlement of the pending amount is available subject to the pre-payment penalty.

Car Loan Roorkee Interest Rates

To check Car Loan Interest Rate for all major banks you can visit: Car Loan Interest Rates

Car Loan Roorkee Documents Required

Apply for a Car Loan

Documents required for car loan are as followed:

For salaried individuals:

• Identity proof- passport copy, PAN Card, Voters ID card, Driving license
• Income proof- Latest 3-month salary slip with form 16
• Address proof- Ration card/ Driving license/Voters card/Passport Copy/Telephone Bill/Electricity Bill/Life Insurance Policy/PAN Card
• Bank statement for the last 6 months

For self-employed individuals:

• Identity proof- Passport copy, PAN Card, Voters ID card, Driving license
• Income proof- Latest ITR
• Address proof- Ration card/Driving License/Voters card/Passport Copy/Telephone Bill/Electricity Bill/Life Insurance Policy/PAN Card
• Bank statement for the last 6 months

Car Loan Roorkee Eligibility Criteria

The car loan eligibility requirements are as followed in Roorkee:

For salaried individuals:

• The applicant should have a minimum age of 21 years and a maximum age of 65 years
• They need to be at least 1 year in current employment and a minimum of 2 years of employment
• They should have a net annual income of Rs. 100,000

For self-employed individuals:

• The applicant should have a minimum age of 21 years and a maximum age of 65 years
• They should be at least 3 years in business
• They should have a Net profit of Rs.60,000 p.a for standard cars and Rs.100,000 p.a. for mid-sized and premium cars.

Car Loan for Major Car Manufacturers in Roorkee 

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Processing Fees & Prepayment Charges on Car Loan Roorkee

CIBIL Score Required for Car Loan in Roorkee

Apply for a Car Loan

The CIBIL score is referred to as your ability to pay off your credits and is based on your repayment history. A higher Credit score means good credit history and makes your car loan application process smooth and easy, while a lower score can charge you a higher interest rate. Mostly, banks and NBFCs consider a credit score of 750 and above as a good score to approve your loan application process in Pondicherry. This score may again vary from bank to bank. Thus, a CIBIL score is an important factor in a car loan.

Car Loan Roorkee Contact Number

In case of any queries regarding the best car loan in Roorkee, you may contact the number 9878981166 for any sort of assistance.

Pre Calculated EMI Table for Car Loan Roorkee

Car Loan EMI Calculator

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