Car Loan Jammu

About Jammu

Jammu, as you know, is the heaven on earth in a literal sense. The place is famous for its small-scale and cottage industries such as carpet weaving, silks, shawls, etc. for which having a car of your own can be really helpful in terms of traveling. Jammu has a great potential to become the top travel destination in the whole world. From policy perspective also, the role of tourism in the economic development has been an area of immense interest. Hence, another important thing to notice about this place is that the impact of positive impact of tourist inflow on employment i.e., with the increase in tourist inflow, the employment is also increasing day by day.

About Car Loan

Jammu binds in itself so much to admire and explore that usually a single trip to this place is not sufficient. Having said that, the place also has a high demand for auto loans or car loans. So, if you are one of those who wants to buy a car in Jammu, you can apply for a car loan. Now, almost all the top banks in Jammu are offering affordable loan facility. So, what are you waiting for? Apply for a car loan at 8.70% p.a. You can choose the best offer that suits your budget and get a car for yourself instantly.

Car Loan Jammu in a nutshell

ParticularsDetails
Interest Rate8.60% - 16.25%
Processing Fee₹500-₹5500; 0.25%-0.50% of the loan amount
Pre-payment/Part-payment ChargesPre-payment charges- 5% of the principal outstanding+service tax as applicable

Part-payment charges- 5% of the part payment amount+service tax as applicable
Tenure/Repayment1-7 years
Lowest EMI₹1,594-₹2,015(per lakh)

Eligibility Criteria required for Car loan in Jammu

ParticularsSalaried Individuals Self-Employed IndividualPartnership FirmPrivate/Public Ltd. Company (in existence for at least 3 years)
AgeThe applicant should be above 18 years at the time of application, and up to 60 years of age at the time of maturity of the loanAny proprietor, partner, professional or director above 18 years but below 65 years at the time of the loan maturity.
Income Minimum gross annual income of at least ₹2,50,000/-Minimum gross annual income of at least ₹2,50,000/-Firm should have a minimum turnover of ₹2.50 lakhsMinimum turnover of ₹2.50 lakhs
Job StabilityThe total employment stability should be for at least 2 years and current employment stability of minimum 1 yearBusiness stability should be for at least 2 years

Documentation Required for Car Loan

  • Proof of Identity: Passport copy, PAN Card, Voter 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/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 Banks Car Loan Interest Rate and Address in Jammu

Banks NameMain Branch AddressInterest Rate (p.a.)
State Bank Of IndiaRed Cross Building, Kachi Chawn, Jammu and Kashmir 1800019.05% - 12.60%
HDFC BankJammu, Cb - 13, Rail Head Complex, Gandhinagar Bahu Plaza Jammu, Jammu, Jammu and Kashmir 1800038.00% - 13.00%
ICICI BankRudra Complex, Main Road, Sector-2 Channi Himmat, Jammu, Jammu and Kashmir 18001510.75% - 15.50%
Axis BankBasement & Ground Floor, Khewat No. 118, Khasra No. 325, Gulab Singh Marg, Near Dogra Chowk, Jammu, Jammu and Kashmir 180001

11.00% - 12.00%

Punjab National BankShastri Nagar, Sanjay Nagar, Jammu, Jammu and Kashmir 1800048.75% - 9.20%
Bank of IndiaResidency Rd, Raghunath Bazar, Pakki Dhaki, Resham Ghar Colony, Jammu, Jammu and Kashmir 1800019.25%
Bank of BarodaGandhi Nagar, Jammu, Jammu and Kashmir 1800048.80% - 10.55%
Central Bank of IndiaNear Poonch House, Talab Tillo, Jammu, Jammu and Kashmir 1800028.70%
Bank of MaharashtraKashmir Khalsa Hotel, Amira Kadal, Srinagar 8.90% - 9.40%
IDBI Bank222 - 225, City Centre, IIND Floor Begum Bridge Road 9.95% - 12.05%

People Also Look For

Personal Loan Interest Rates October 2018
Bajaj Finserv10.99% - 16.00%
Fullerton India14.00% - 33.00%
HDFC Bank11.25% - 21.50%
ICICI Bank10.99% - 18.40%
IndusInd Bank10.99% - 16.00%
Kotak Bank10.99% - 20.99%
RBL13.00% - 18.00%
Standard Chartered Bank11.50% - 14.50%
Tata Capital10.99% - 18.00%
Home Loan Interest Rates October 2018
State Bank of India/SBI8.70% - 9.25%
HDFC8.80% - 9.60%
Bank of Baroda8.55% - 9.55%
LIC Housing8.70% - 9.05%
PNB Housing Finance9.00% - 13.00%
ICICI Bank8.85% - 9.10%
Axis Bank8.80% - 9.05%
Citibank8.90% - 9.65%
Indiabulls Housing Finance Limited8.80% - 11.05%
Kotak Bank8.75%
DHFL9.05% - 9.95%
Reliance Home Finance8.75% - 10.00%
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