Best Banks for Used Car Loan in Indore
Used Car Loan Indore Features
Used Car Loan is available for you at an attractive rate of interest. Used Car Loan Indore provides you financial help for getting a loan for a pre-owned or used car.
The features of the used car loan in Indore are:
- Get maximum loan amount of Rs. 2.5 crore
- Get a 100% loan amount of the value of the car
- At loan maturity, the car’s age must not be more than 10 years
- Avail loan amount up to 6 times of your yearly income
- Provision of personalized assistance
- Get customized and convenient repayment plans with a reasonable rate
- Maximum loan tenure is up to 5 years for a pre-owned car
- Easy and smooth processing
- Get your pre-owned car approval faster
- Loan amount disbursed quickly
- Quick and less documentation
- Get a loan amount of up to 85% of the car value without salary proof
- Get benefit from end-to-end advising
Used Car Loan Indore Interest Rates
To check Car Loan Interest Rate for all major banks you can visit: Car Loan Interest Rates
Used Car Loan Indore 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 Indore 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 duration: 1 year in current employment and a minimum of 2 years of employment
- Minimum Annual Earnings: Rs. 2,50,000 net annual income
- Available for doctors, CAs, employees of private limited companies, employees from public sector undertakings, including central, state, and local bodies
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
- This includes candidates who own a private company in the business of manufacturing, trading, or services
- Candidates who have an office landline
The following type of firm are also eligible to take a pre-owned car loan in Indore:
- Sole Proprietorship
- Partnership Firms
- Public Limited Companies
- Hindu Undivided Family
How to Apply for Used Car Loan in Indore?
Availing a Used Car Loan in Indore is an easy and smooth process with Dialabank. Follow the following steps and avail the best offers:
- Visit our website Dialabank
- Click on the car loan option accessible in the menu
- Fill the details about the car type and your earning
- Wait as our relationship manager will soon get in contact with you on your provided mobile number.
- You may also call our relationship managers on the number 9878981166 in case of any queries about the used car loan.
- For getting a car loan offline you have to visit the bank branch personally, which might turn to be hectic for you.
Used Car Loan for Major Car Manufacturers in Indore
TABLE WILL APPEAR
Processing Fees / Prepayment Charges on Used Car Loan in Indore
CIBIL Score Required for Used Car Loan in Indore
The CIBIL score refers to what defines your ability of the payment of your credits. A higher Credit score means good credit history and makes your Used Car Loan Indore 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 Indore.
The CIBIL score required for availing a loan for a used car or second-hand cars in Indore is 720 and above. Those who have a minimum CIBIL score of 720 is eligible for getting a pre-owned car loan in Indore. This score may range from bank to bank. If you have a low CIBIL score than the required value, you must be required to pay a high-interest rate on the loan amount while if your CIBIL score is good then you will pay a low-interest rate. Thus, a CIBIL score is an important factor for getting a Used Car Loan Indore.
Used Car Loan Indore Contact Number
In case of any queries regarding the used car loan in Indore, you may contact the number 9878981166 for any sort of assistance.
Pre Calculated EMI Table for Used Car Loan Indore
Used Car Loan EMI Calculator Indore
About Indore
Indore is the largest and the most populous city of Madhya Pradesh state, India. It is taken into consideration as the education hub of the state. A famous Jain temple in Indore, Kanch Mandir literally a temple of glass.
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