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We offer award-winning, low-rate Consumer loans with no ongoing fees, saving our customers thousands of rupees.
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Through showroom got suggestion to take a car loan from AXIS bank. I taken this loan on 3 years back. I got the loan amount of 4L with tenure period of 4 years. The rate of interest was okay. I done the down payment of around 1.5L. EMI need to pay of 10,500 rupees. The car model is Swift Dzire. I taken for commercial purpose based on amount which I get on monthly doing the EMI payment.
"I have purchased my car loan with HDFC bank which i have taken in the month of December. There is no interest rate on fast approval so that reason i have availed this loan. I have taken the loan amount of Rs. 12.34 lakhs and i made the down payment of Rs. 50000. They have sanctioned my loan in 1 day."
"My car loan is going to be completed in this November. My salary goes into HDFC bank hence the guy keep on calling me to take the loan hence I have selected the car loan from same bank. In 2013, I have purchased the car loan by paying the down payment of Rs. 3.5L. Took the loan amount of Rs. 3.8L. I pay EMI amount of Rs. 6948 every month."
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Get Started NowWhether or not you need collateral for a car loan in India will depend on the lender and the specific loan program. Some lenders may require collateral, while others may not.
Collateral is a type of security that a borrower provides to the lender in order to secure a loan. If the borrower fails to make the required loan payments, the lender has the right to seize the collateral in order to recover the outstanding loan amount. Common types of collateral include property (such as a house or a piece of land), stocks or bonds, or other valuable assets.
Some lenders may require collateral for a car loan in order to reduce the risk of default. However, other lenders may offer car loans without requiring collateral, particularly if the borrower has a strong credit score and a stable income.
It is always a good idea to check with the lender to confirm whether or not collateral is required for a car loan before applying. This will help you to understand the terms and conditions of the loan and make an informed decision about whether or not it is the right loan for you.
When applying for a car loan in India, you will typically need to submit a number of documents to the lender in order to complete the loan application process. Here is a list of some common documents that may be required:
This is just a general list of documents that may be required for a car loan in India. The exact list of documents will depend on the lender and the specific loan program. It is always a good idea to check with the lender to confirm the exact list of documents that are required before applying for a loan. This will help you to be prepared and ensure that the application process goes smoothly.
A car loan application in India may be rejected for a variety of reasons. Some common reasons for loan rejection include:
It is always a good idea to check with the lender if your car loan application is rejected in order to understand the specific reason for the rejection. This can help you to address any issues and improve your chances of being approved for a loan in the future.
Auto Debit /ECS Facility:
You can repay your loan through ECS or Auto Debit from your bank account. All you have to do is fill up a form and allow us to activate the bank mandate.
PDC Facility:
You can also provide us with post-dated cheques **** towards the repayment. However, you may be charged a small fee for the same.
**** Cheque should be MICR or local clearing.
In case you wish to swap the cheques or bank mandate from which the repayment will be done, then you or your representative (with an authority letter) would have to visit the branch. Swapping charges would be applicable.
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