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How to Get a car Loan online-Easy process

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How to get a car loan in India?

Owning your dream car is now easy, you get aCar Loan in India directly from a bank or a finance company. It is important to know which type of car loan provider will be appropriate for your requirements. A car loan depends on the tenure of the loan, loan amount, nature of the asset, and the customer profile. In my opinion, visit referloan.comand follow the simple procedure to get complete information about a car loan.

Eligibility Criteria for a car loan

  • The minimum age criteria must be 18 years and the maximum is 75 years
  • The minimum salary required for acar loanis a minimum of Rs. 20,000 (can be more)
  • You must be having a work experience of at least 1 year with the current company you are working for (can be more or less).
  • One should be:
    • salaried
    • self-employed
    • government company
    • private company

Documentation Required

  • Identity proof
    • Aadhar card
    • Passport
    • Driving License
    • Voter ID card
    • PAN card
  • Address Proof
    • Aadhar card
    • Passport
    • Driving License
    • Ration Card
    • Utility Bills
  • Income Proof
    • Salary Slip if the person is salaried
    • Income Tax Returns
    • Bank Statements

How to apply for a Car Loan in India?

Step 1: Shortlist a car

Step 2: Check eligibility

Step 3: Figure out the loan amount, tenure, and EMI

Step 4: Apply and provide documents

Step 5: Book your car

Compare Best Car Loan Interest Rates in India for 2022

Bank NameCar Loan Interest RatesProcessing fee
Bank of Baroda Car Loan7.00% p.a. onwardsRs.1,500
Canara Bank Car Loan7.30% p.a. onwards0.25% of the loan amount, subject to a minimum of Rs.1,000 and a maximum of Rs.5,000
Axis Bank Car Loan7.45% p.a. onwardsMinimum of Rs.3,500 and maximum of Rs.7,000
Federal Bank Car Loan8.50% p.a. onwardsContact the bank
SBI Car Loan7.20% p.a. onwardsNew Car: Nil (offer valid until 31 August 2022)

Benefits of Car Loan

  • Fast and simple Car loanapplication form
  • Least documentation required with fast loan amount disbursement
  • Less and attractive rate of interest
  • Boost your CIBIL score
  • Choose your loan option according to your car model requirement
  • Get up to 100% ex-showroom amount with attractive ROI
  • Flexible repay options
  • Right and amazing investment choice.

FAQs for Car Loan

  1. Is thisCar Loan available for all cars: ReferLoan provides a loan for each and every car model available in the market.
  2. What is the Rate of interest for a car loan: the minimum ROI starts from 8%.
  3. What is the maximum time for repayments: the maximum repayment time is 5 years.
  4. How much time will it take to disburse the loan: after your eligibility and documents are verified, your loan amount would be disbursed immediately.

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