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About Car loan
Interest Rates* from various Banks
State Bank of India9.7%
Axis Bank9.5% to 15%
ICICI Bank9.50% to 10.75%
TATA Capital12.5% to 12.75%
Punjab National bank10.25% to 11.5%
HDFC Bank9.25% to 11.25%
Car loan Info:
Buying a car is time filled with much excited and a fair bit of stress as well. With a excitement to buy a new car,you need to arrange the finances too. These days lot of banks are offering car loans. One easy way to apply for car loan is on Way2Loans with high eligibility & attractive interest rates. We are tied up with multiple banks which are suitable according to your requirement. Your time, money and Effort will reduce as we take care of rest. Though the eligibility criteria differ from bank to bank.
Typical Eligibility Criteria
You must be employed by your current organization or should be involved in your business for certain number of years. The requirement changes from bank to bank.
You should have the monthly repaying capacity after all your expenses and expenditure. Few banks also ask for minimum salary to sanction you a loan.
Credit score is calculated by credit rating agencies by aggregating your financial information from various banks. You will need a good credit score for getting your loan sanctioned.
Your existing EMIs decide your repayment ability of the loan. You should not have any other loan liabilities or you must have surplus of sufficient funds with you every month repay a new EMI.
Signed Application Form, Recent Photo Copy, Identity Proof, Age Proof, Proof of Address, Last 3 months salary slip, Bank account statements.