Table of Contents
Ghaziabad is a city in the state of Uttar Pradesh in India. It is closely situated to New Delhi, on the main route to Uttar Pradesh. It is large and planned industrial city, well connected by roads and railways. The administrative headquarters of Ghaziabad rests in the city and serve to be the primary commercial, industrial and educational center of western U.P and a major rail junction for North India. The economy of the city is heavily dependent on the industries along with real estate business. There are branches of banks and non-banking financial companies which also rests in the city.
About Car Loan
A car loan is a type loan available for the purchase of car by proposed car buyers on attractive terms. The length of car loans vary between one and seven years.
The repayment of your car loan will be high and interest would be lower if you tend to pay off the loan over one year. On the other hand, across seven years the repayments will be subsequently lower but the interest cost would be high.
Before going for your car loan, find out if the repayments are flexible. This will give you the ability to choose the flexible one so as to accommodate your own personal circumstances.
Car Loan Ghaziabad in a nutshell
|Interest Rate||7.45% - 14.01%|
|Processing Fee||₹500-₹5500; 0.25%-0.50% of the loan amount|
|Pre-payment/Part-payment Charges||Pre-payment charges- 5% of the principal outstanding+service tax as applicable|
Part-payment charges- 5% of the part payment amount+service tax as applicable
|Lowest EMI||₹1,594-₹2,015(per lakh)|
Eligibility Criteria required to get Car loan in Ghaziabad
|Particulars||Salaried Individuals||Self-Employed Individual||Partnership Firm||Private/Public Ltd. Company(in existence for atleast 3 years)|
|Age||The applicant should be above 18 years old at time of application, and up to 70 years of age at time of maturity of the loan||Any proprietor, partner, professional or director above 18 years but below 70 years at the time of the loan maturity.|
|Income||Minimum gross annual income of at least ₹ 1,80,000/-||Minimum gross annual income of at least ₹1,80,000/-||Firm should have a minimum PAT (profit after tax) of ₹2.00lakhs||Minimum PAT (profit after tax) of ₹2.00 lakhs|
|Job Stability||The total employment stability should be for atleast 2 years and current employment stability of minimum 1 year||Business stability should be for atleast 2 years|
Documentation Required for Car Loan in Ghaziabad
- Proof of Identity: Passport copy, PAN Card, Voters Id card, driving license( Laminated, Recent, Legible)
- Proof of Address: Ration card/Driving license/Voters card/passport copy/telephone bill/ electricity bill/Life insurance policy.
- Proof of Income: Latest salary slip with form 16 / Audited balance sheet, Profit & Loss Account for latest two years/ Have a minimum turnover of ₹ 4,50,000 per annum / Audited balance sheet, Profit & Loss Account for latest two years and the latest 2 years IT returns of the company / Latest ITR
- Bank Statement: Last 6 months
Top 10 Banks offering Car Loan Ghaziabad Interest Rate and Address
|Banks Name||Main Branch Address||Rate of Interest|
|State Bank Of India||Shop No -23 ,Panchsheel Wellington, Crossing Republic, Ghaziabad, Uttar Pradesh 201009||7.20% - 7.90%|
|HDFC Bank||D - 44 RDC Raj Nagar, Raj Nagar, Ganesh Puri, Ghaziabad, Uttar Pradesh 201001||7.95% - 8.30%|
|ICICI Bank||Ashok Marg, Block 15, Sector 10, Raj Nagar, Ghaziabad, Uttar Pradesh 201002||7.90% Onwards|
|Axis Bank||BG- 1, BF- 1, Plot No. 3, Vaibhav Khand, Aditya City Centre, Indirapuram, Ghaziabad, Uttar Pradesh 201012||7.45% - 14.50%|
|Punjab National Bank||Navyug Market, Old Munsfi Rd, Sihani Gate, Naya Ganj, Ghaziabad, Uttar Pradesh 201001||6.50% Onwards|
|Bank of India||59 - 60, Grand Trunk Road,Ghaziabad, 201001, Uttar Pradesh||6.85% onwards|
|Bank of Baroda||4 Kiran Enclave G.T. Road, Ghaziabad- 201001||7% onwards|
|Central Bank of India||Site No. 1, Loha Mandi, Bulandshahar Road India Estate, Ghaziabad||7.25% - 7.70%|
|Bank of Maharashtra||Ground Floor, Mahalaxmi Metro Tower, Sector 4, Vaishali, Ghaziabad, Uttar Pradesh 201010||6.40% onwards|
|IDBI Bank||Main G.T.Road, Kotgaon Village, Ghaziabad, Uttar Pradesh 201001||7.50% Onwards|