Car Loan availability and eligibility criteria

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Car Loan availability and eligibility criteria
  • Car loans are available for an amount up to 100% of the market value of the car,
  • Car loans are available for a repayment time from 3 years to 5 years.
  • Car loan can be obtained by any public servant, government employee, self-employed person, or businessman.
  • To obtain a car loan in India the person should be an Indian national only.
Eligibility Criteria: –
  • Age of applicant should not be less than 21 years.
  • Age of applicant at loan maturity should not be more than 60 years.
  • Net Monthly Income should be at least Rs. 1, 50,000 per year.
  • Income should be proved stable.
  • If your spouse is an earning hand, you can make him/her co-applicant. This will increase your eligibility.

 

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