Best Banks for Used Car Loan in Erode
Used Car Loan Erode Features
- Avail maximum loan amount of up to Rs. 2.5 crore
- Get a 100% loan amount of the car value
- At loan maturity, the car’s age must not be more than 10 years
- Avail loan amount varies from 3 to 6 times of your annual income
- Provision of personalized assistance
- Get customized and convenient repayment plans with affordable price
- Maximum loan tenure is up to 5 years for a pre-owned car
- Easy and smooth processing
- Get your second-hand car loan approval faster
- Loan amount disbursed quickly
- Quick and simple documentation
- Get a loan amount of up to 85% of the car value without income proof
- Get benefit from end-to-end advising
Used Car Loan Erode Interest Rates
To check Car Loan Interest Rate for all major banks you can visit: Car Loan Interest Rates
Used Car Loan Erode Documents Required
Documents required for car loan are as followed:
For Salaried:
Any of the following documentation required for identity and residence proof:
- Valid Passport
- Voter ID Card
- Permanent Driving License
- Job Card
- Letter issued by the National Population Register
The following documents for income proof:
- Latest Salary Slip
- Latest Form 16/Latest ITR
- Bank statement of last 6 months
Any of the following document required for signature proof:
- Passport Copy
- Photo Driving License with DOB
- Credit card statement with Credit Card Copy
- Banker’s verification
For Self Employed:
- For age proof, the documents required are Memorandum and Articles of Association/Certificate of Incorporation
- For identity proof, the documents required are Memorandum and Articles of Association/Certificate of Incorporation
- For Income Proof, there is a requirement of Latest ITR and balance sheet with profit and loss account
- Address Proof Documents(Anyone): Memorandum and Articles of Association, Certificate of Incorporation, Telephone Bill, Electricity Bill
- For Sign Verification Proof: Passport Copy, Photo Driving License with DOB, Credit Card Statement, Banker’s Verification
Also, the used car loan can be borrowed in the following type of firms as well:
- Partnership Firms
- Sole Proprietorship
- Public Limited Companies
Used Car Loan Erode Eligibility Criteria
The car loan eligibility requirements are as followed:
For Salaried:-
- Minimum age: 21 years
- Maximum age at loan maturity: 60 years
- Minimum employment: 1 year in current employment and 2 working years of employment
- Minimum Annual Income: Rs. 2,50,000 net annual income
- Doctors, CAs, employees of private limited companies, employees from public sector undertakings, including central, state, and local bodies comprised of this loan.
For Self-Employed:-
- Minimum age: 21 years
- Maximum age at loan maturity: 60 years
- Minimum employment: 3 years
- Minimum Annual Income: Rs, 2,50,000 per annum
The following type of firm are also eligible to take a pre-owned car loan in Erode:
- Sole Proprietorship
- Partnership Firms
- Public Limited Companies
- Hindu Undivided Family
How to Apply for Used Car Loan in Erode?
Availing a Used Car Loan in Erode is an easy and smooth process with Dialabank. Follow the following steps to get the best offers:
- Visit our website Dialabank
- Click on the car loan option accessible in the menu
- Fill the details regarding the car type and your salary
- Wait as our relationship manager will soon get in contact with you on your provided contact number.
- Also, you can call our relationship managers at 9878981166 for any queries regarding the used car loan.
- For availing a car loan offline you will have to visit the bank branch personally, which might turn to be hectic for you.
Used Car Loan for Major Car Manufacturers in Erode
TABLE WILL APPEAR
Processing Fees / Prepayment Charges on Used Car Loan in Erode
CIBIL Score Required for Used Car Loan in Erode
The CIBIL score is referred to as what defines your capability to pay off your credits. A higher Credit score means good credit history and makes your Used Car Loan Erode application process hassle-free and easy to be processed. Mostly, banks and NBFCs consider a good credit score to approve your loan application process in Used Car Loan Erode.
The CIBIL score required for availing a loan for a used car or second-hand cars in Erode is 720 and above. Those who have a minimum CIBIL score of 720 is eligible for getting a pre-owned car loan in Erode. This score may again differ from bank to bank. In case of a low CIBIL score, you will pay a high-interest rate on the loan amount while if your CIBIL score is good then you may have to pay a low-interest rate. Thus, a CIBIL score is an important factor for getting a Used Car Loan Erode.
Used Car Loan Erode Contact Number
If you have any queries about the used car loan in Erode, you may contact the number 9878981166 for any sort of assistance.
Pre Calculated EMI Table for Used Car Loan Erode
Used Car Loan EMI Calculator Erode
About Erode
Erode is a center in the Indian state of Tamil Nadu. The seventh-largest metropolitan agglomeration in the state, it is also the official headquarters of the Erode district.