Best Banks for Used Car Loan in Kakinada
Used Car Loan Kakinada Features
Used Car Loan is available for you at attractive interest rates. Used Car Loan Kakinada provides you financial help for getting a loan for a pre-owned or used car.
The features of the used car loan in Kakinada are:
- Avail maximum amount of up to Rs. 2.5 crore
- Get a 100% loan amount of the price of the car
- At loan maturity, the car’s age should be 10 years
- Avail loan amount up to 6 times of your annual earnings
- Provision of personalized assistance
- Get customized and convenient repayment plans with affordable price
- Maximum loan tenure is 5 years for a pre-owned car
- Easy and smooth processing
- Get your second-hand car approval quickly
- Loan amount disbursed quickly
- Quick and easy 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 Kakinada Interest Rates
To check Car Loan Interest Rate for all major banks you can visit: Car Loan Interest Rates
Used Car Loan Kakinada Documents Required
An individual must check the documents required for car loan before deciding.
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 Kakinada Eligibility Criteria
To obtain the loan amount, a person must meet the Eligibility criteria for car loan.
For Salaried:-
- Minimum age: 21 years
- Maximum age at loan maturity: 60 years
- Minimum employment required: 1 year in recent employment and a minimum of 2 years of employment
- Minimum Annual Earnings: Rs 2,50,000 net annual income
- It is 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 consumers who own a private company in the business of manufacturing, trading, or services
- Customers who have an office landline
The following type of firm are also eligible to take a pre-owned car loan in Kakinada:
- Sole Proprietorship
- Partnership Firms
- Public Limited Companies
- Hindu Undivided Family
How to Apply for Used Car Loan in Kakinada?
Availing a Used Car Loan in Kakinada 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 about the type of car and your income
- Wait as our relationship manager will get in contact with you on your provided mobile number.
- You can contact our relationship managers on the number 9878981166 in case of any queries regarding the used car loan.
- For availing a car loan offline you must have to visit the bank branch personally, which might turn to be hectic for you.
Used Car Loan for Major Car Manufacturers in Kakinada
TABLE WILL APPEAR
Processing Fees / Prepayment Charges on Used Car Loan in Kakinada
CIBIL Score Required for Used Car Loan in Kakinada
The CIBIL score is referred to as what defines your potential to pay off your credits. A higher Credit score means good credit history and makes your Used Car Loan Kakinada 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 Kakinada.
The CIBIL score required for availing a loan for a used car or second-hand cars in Kakinada is 720 and above. Those who have a minimum CIBIL score of 720 is eligible for getting a pre-owned car loan in Kakinada. This score may again differ from bank to bank. In case of a low CIBIL score, you will be required to pay a high rate 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 Kakinada.
Used Car Loan Kakinada Contact Number
In case of any queries regarding the used car loan in Kakinada, you may contact the number 9878981166 for any sort of assistance.
Pre Calculated EMI Table for Used Car Loan Kakinada
You can calculate your EMI here: Car Loan EMI Calculator
Used Car Loan EMI Calculator Kakinada
About Kakinada
Kakinada is the 6th most considerable city of the Indian State of Andhra Pradesh and serves as the district quarters of the East Godavari district of the State.
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