Car and Bike Loan
Car and Bike Loan
A car and Bike loan is a form of financing that allows individuals to purchase a vehicle without having to pay for the full cost upfront. Instead, the borrower will make monthly payments over a period of time until the loan is paid off in full. These loans are typically offered by banks, credit unions, and other financial institutions, and are secured by the vehicle itself. The interest rate on a car loan will vary depending on a variety of factors, including the borrower's credit score, the length of the loan, and the value of the vehicle being purchased.
How we get Car and Bike Loan?
Car and Bike loans in India are offered by banks, non-banking financial companies (NBFCs), and other lending institutions. These loans are specifically designed to cater to the diverse needs of individuals who want to buy a car, whether it's a new car or a used one. The loan amount, interest rates, and repayment terms depend on factors such as the borrower's income, creditworthiness, the price of the car, and the loan tenure
- Instant Business Growth
- 24/7 Quality Service
- Easy Customer Service
- Quality Cost Service
Car and Bike loans in India have witnessed advancements in the application and approval processes, with many lenders offering online application facilities. This allows borrowers to conveniently apply for a car loan from the comfort of their homes and track the progress of their application. Once approved, the loan amount is disbursed directly to the dealer or seller, enabling the borrower to purchase the desired car.
More About Car and Bike Loan?
Features and Benefits of our Car and Bike Loan?
- Access to Immediate Funds
- Flexible Loan Tenures
- Fixed Interest Rates
- Customized Loan Amounts
- Convenient Monthly Repayments
- Potential Tax Benefits
- Option for New and Used Cars
- Ownership from Day One
- No Need for Full Upfront Payment
- Improve Credit Score through Timely Payments
Eligibility Criteria For Car and Bike Loan?
- Individuals who are at least 21 years old at the time of loan application and no older than 60 at the end of the loan tenure
- Individuals who have worked for at least two years, with at least one year with the current employer
- Individuals with a minimum earning of Rs. 3,00,000 per year, including the income of the spouse/co-applicant.
- Individuals who are at least 21 years old at the time of application and no older than 65 at the end of the loan tenure.
- Those who have been in business for at least two years.
- IShould earn at least Rs. 3,000,000 per year
For Salaried Individuals
For Self Employed Individuals
Documents required to apply for Car and Bike Loan?
- KYC documents (Valid Photo ID Proofs)
- PAN Card
- Last 2 years' ITR as proof of income
- Salary Slip (latest 3 months)
- Salary account statement(latest 6 months)
- Signature Verification Proof
