Purvanchal Bank Car Loan

Purvanchal Bank Car Loan Key Features – Dec 26 2024

About Purvanchal Bank Car Loan

Purvanchal Bank having its head office at Gorakhpur operates through the network of its 571 branches, in eleven districts of Purvanchal. Dedicated employees are working hard for the noble cause of rural upliftment to enable rural masses to become self-dependent and capable of contributing to national growth in consonance with National and State level priorities.

Purvanchal Bank provides Car Loans at attractive rates of interest to the consumer for buying their dream car whether new or second-hand. It is an easily available loan that can be procured by anyone even by ones who have a slightly low credit/CIBIL score.

Advantages of Purvanchal Bank Car Loan

⍟ Loan Approval in 30 Minutes
⍟ Lowest Rate of Interest
⍟ Up to 100% on Road Loan
⍟ Minimum Documentation
⍟ Paperless Process
⍟ Flexible Repayment
⍟ Zero Foreclosure
⍟ 24 x 7 Online Payment Facility
⍟ No Hidden Charges

Purvanchal Bank Car Loan Eligibility

Documents required for a car loans and other eligibility are discussed below.

Purvanchal Bank Car Loan Interest Rate, Fees, and Charges

Details on car loan interest rate and other charges are given below:

Purvanchal Bank Car Loan Documents Required

Salaried Individual

Self-Employed Individuals

Self-Employed Non-Individuals

1. Partnership Firms/Societies

2. Private Limited/Limited Companies

How to Increase Your Eligibility for Purvanchal Bank Car Loan

• Opt for a shorter tenure: When you opt for a shorter tenure to repay the money, the EMI you will pay each month will be higher in Purvanchal Bank. This will be an indication of your higher repayment capacity for the Purvanchal Bank Car Loan, which will build a sense of confidence in you.
• Keep your credit score in check: If you wish to increase your Eligibility for a Car Loan for a Purvanchal Bank car loan, ensure that you have a credit score of over 750. You can use the Free Credit Score tool to check and maintain such a healthy credit score for Purvanchal Bank Car Loan.
• Maintain a low debt-to-income ratio: A low debt-to-income ratio in Purvanchal Bank means you have a good balance between your earnings and your spending. This is because before Purvanchal Bank decides to lend to you, they will check the percentage of your earnings that goes into paying your debts, and a low debt-to-income ratio will indicate your high repayment capacity for Purvanchal Bank Car Loan.
• Apply for a loan for a lower amount: By applying for a loan for a lower amount, you can increase your eligibility for a Purvanchal Bank car loan. In addition, a lower loan amount means that the loan will be repaid faster; therefore, the chances of you being eligible for a Purvanchal Bank loan are higher.

Factors Affecting Purvanchal Bank Car Loan Eligibility

The eligibility criteria for a car loan will depend on the below-given factors:

• Income: If your income is on the higher side, there is a good chance that your eligibility for a Purvanchal Bank car loan will be higher. This is because a higher income indicates a higher repayment capacity. To be eligible for a Purvanchal Bank car loan, your yearly income should be at least Rs.3 lakh.
• Loan amount: Your Eligibility Criteria for Car Loan from Purvanchal Bank will be higher if you apply for a lower loan amount as if the loan amount is lower, Purvanchal Bank knows that the loan will be paid off quicker. Hence, they will be more confident to give you the loan for Purvanchal Bank Car Loan.
• Repayment tenure: Choosing a longer repayment tenure can decrease your eligibility for a car loan in Purvanchal Bank. It might give an impression to the bank that you do not possess the ability to pay Your Purvanchal Bank loan.
• Credit score: This is an important factor that every bank, including Purvanchal Bank, considers when determining your car loan eligibility. A credit score of 750 and above is considered to be a healthy credit score by Purvanchal Bank and most lenders.
• Relationship with the bank: As stated earlier, Purvanchal Bank offers instant car loans to their existing customers, which allows Purvanchal Bank’s customers to avail a loan instantly, at their convenience, with very few List of documents required for a Car Loan.

Purvanchal Bank Car Loan Customer Care – Toll-Free Number

Purvanchal Bank 24*7 customer care toll-free number all your general enquiries is For Ahmedabad / Bangalore / Chennai / Delhi & NCR / Hyderabad / Kolkata / Mumbai / Pune/ Chandigarh / Cochin / Indore / Jaipur / Lucknow dial 1800 258 44 55

Purvanchal Bank Car Loan EMI Calculator

The applicant has the option to know the EMI’s before availing of a Car Loan. Thus, you can easily check through the link below:

Car Loan EMI Calculator

Purvanchal Bank Car Loan Types

Purvanchal Bank offers different types of car loans to its customers. You have the option of choosing the offer which suits your need the best. It offers the following types of Car Loans:

1. New Car Loan –  Those who wish to buy a new car, this is the scheme for you. You can take Purvanchal Bank Car Loan for a minimum of Rs. 1 lakh and a minimum tenure of 7 years.
2. Used Car Loan – If you wish to buy a used car then you can choose this scheme which offers a minimum loan of Rs. 1 lakh and a minimum tenure of 5 years.
3. Loan Against Car – You can opt for this scheme if you need urgent funds where you can keep your cars as collateral with the bank where you can get Rs. 10 lakh or up to 50% of your car’s value.

Purvanchal Bank Car Loan Pre Calculated EMI

How to Apply for Purvanchal Bank Car Loan?

1. Visit Dialabank and fill a form.
2. Wait for a call from our Relationship Manager who will guide you throughout the process.
3. You can compare different offers from banks and NBFCs and choose the one which suits your needs.
4. Thus, easily apply for a Car Loan through Dialabank and enjoy the best offers.
5. Eligibility criteria for a car loan are discussed in the above contents

Tips to Decide the Right Amount of EMI in Car Loan

• Ascertain the amount you need to borrow: It is important that before approaching Purvanchal Bank for a loan, you inform them about the amount of loan you need to borrow. Limit your Purvanchal Bank loan amount after accounting for your own available funds.
• Review your current obligations: Before taking a Purvanchal Bank loan, it is advisable to check your expenses, including any EMI obligations that you have on your current loans. This assessment will help you estimate the amount of EMI you will be able to pay comfortably for the Purvanchal Bank Loan after taking into account other obligations.
• Calculate your Purvanchal Bank car loan eligibility: Your Purvanchal Bank eligibility is an assessment of your repayment capacity based on your monthly income. Purvanchal Bank provides an LTV up to 100 % of the ex-showroom price and expects the borrower to fund the remaining value of the property with their own money.
• Multiplier-based loan amount eligibility: Purvanchal Bank also calculates your eligibility by applying a multiplier to your net take-home salary. This is the simplest method for calculating Your Purvanchal Bank loan eligibility.
• FOIR based loan amount eligibility: Purvanchal Bank will also estimate your Fixed Income to Obligations Ratio (FOIR) to find out the maximum EMI you can service based on your current income and other monthly expenses. Purvanchal Bank applies a certain ratio to your income to estimate your monthly expenses and then adds your other EMI obligations in Purvanchal Bank or other banks to calculate your fixed obligations.

Car Loan EMI Changes in Case of Pre-payment

In case you prepay your vehicle loan, a small penalty is issued. Prepayment in Purvanchal Bank is 5% from 13-24 months, 3% after 24 months. When you prepay, the outstanding balance on your vehicle loan reduces. Purvanchal Bank gives you two options:

• Reduce your loan tenure and keep EMI on your car loan unchanged
• Reduce the amount of EMI and keep your loan tenure the same

How to Calculate Purvanchal Bank Car Loan EMI

Before you avail of a car loan from Purvanchal Bank, you may want to know how much amount you will be paying every month. This is simply known as EMIs or equated monthly installments and it offers an easy way to repay your car loan. By calculating the EMI, you will be able to budget your monthly expenses better.

You can calculate the EMI for your car loan by using the below-given formula:

E = P*r*[(1+r) ^n/((1+r) ^n-1)]

In the above formula, E is the EMI, P the principal amount, r the interest rate, and n the number of years or tenure of the loan.

You can also calculate the EMI by using the EMI Calculator tool wherein you just need to enter the loan amount, interest rate, repayment tenure, processing fee, etc. The tool will calculate the EMI and display it to you.

Purvanchal Bank Car Loan for Top Selling Cars

Other Available Products from Purvanchal Bank

Compare Purvanchal Bank Car Loan With Other Banks In India

FAQs for Purvanchal Bank Car Loan

✅ What is the Purvanchal Bank Car Loan?

Purvanchal Bank car loan is the mortgage sum provided to its customers by the firm for a new or used car.

✅ How can I get a Car Loan from Purvanchal Bank?

1. Visit Dialabank and fill a form.
2. Wait for a call from our Contact Director who will guide you throughout the method.
3. You can compare different offers from banks and other companies and pick the one which suits your needs.
4. Thus, easily apply for a Car Loan through Dialabank and experience the best offers.

✅ How does Purvanchal Bank Car Loan work?

When you will appeal for a car loan, then you will get a call from our agent and then, there will a document verification method. Then, the loan amount will be credited to your account.

✅ What is the Car Loan Interest Rate in Purvanchal Bank?

The interest rate on a car loan in the Purvanchal Bank is

7.35% per annum

✅ How to Check Car Loan status in Purvanchal Bank?

You can trace your car loan status online on the Car loan status website.

✅ How to Calculate Car Loan Interest in Purvanchal Bank?

✅ What are the charges for Prepayment in Purvanchal Bank Car Loan?

You can prepay/foreclose your Purvanchal Bank Car Loan with 5% as foreclosure prices.

✅ Can I get a top-up loan on my existing Purvanchal Bank car loan?

You can get a top-up loan on your current car loan from Purvanchal Bank for up to 150% of its value.

✅ Do I need to provide a guarantor to avail myself of a car loan from the Purvanchal Bank?

Generally, you don’t need a guarantor for a car loan. Nevertheless, you may require a guarantor if you don’t fulfill the eligibility criteria.

✅ How to get the Purvanchal Bank Car Loan Statement?

Get the statement in person by visiting your branch and requesting a detailed statement.

                                                       or

You can get the statement online. To do this, you should have Purvanchal Bank internet funding initiated.

✅ How to Pay Purvanchal Bank Car Loan Interest Online?

Simply log on to online Purvanchal Bank payment to ‘see and pay’ your bills. You also get an automatic acceptance for every bill paid by you using e-PAY. You can also pay through Paytm.

✅ What if I can’t pay the interest on Purvanchal Bank Car Loan for 3 months?

Purvanchal Bank imposes 24% of the exceptional amount or a Fee ranging from Rs.500 to Rs.5000 for not paying the EMI for 3 months.

✅ How can I apply for EMI Moratorium on Purvanchal Bank Car Loan?

You can apply for EMI Moratorium on Purvanchal Bank Car Loans directly from the Purvanchal Bank website’s Loan corner.

✅ What is the number for the Purvanchal Bank Car Loan agent?

Call Dialabank at 9878981166 as it is one of the most advanced Purvanchal Bank Car Loan agents. Dialabank even ensures the best offers on your Car Loan.

✅ Can I close the Purvanchal Bank car loan online?

Purvanchal Bank car loans can be closed by visiting the nearest branch and clearing off the excellent amount.

✅ What is the Purvanchal Bank Car Loan Customer Care Number?

Call 9878981166 and clear any of your queries with us anytime.

✅ How can I get NOC from the Purvanchal Bank for a Car loan?

You can get NOC directly from the department for Purvanchal Bank Car Loans.

✅ What is the Purvanchal Bank Car Loan closure procedure?

• Just go to the bank with the documents.
• Write a letter for pre-closure of the Purvanchal Bank Car Loan account.
• Pay the pre-closure charges as per Purvanchal Bank Car Loan.

✅ What are the Purvanchal Bank Car Loan preclosure charges?

Purvanchal Bank Car Loan preclosure charges are 5% of the outstanding principal.

✅ What is the Purvanchal Bank Car Loan maximum tenure?

The Purvanchal Bank Car Loan maximum tenure is 7 years.

✅ What is the Purvanchal Bank Car Loan minimum tenure?

The Purvanchal Bank Car Loan minimum tenure is 1 year.