Car Loan Lucknow
Last Updated : Jan. 11, 2019, 6:07 p.m.
About Lucknow
Lucknow has been ranked the 6th among the fastest job-creation cities in India. Lucknow is clearly showing the rapid development in various forms of businesses such as banking, retail industry, IT, education, legal infrastructure and other sectors. Lucknow, with its excellent education, commercial, banking and legal infrastructure, is witnessing rapid growth in Information Technology; banking, retailing, construction and other service sectors. With such economic strength, the city, of course, holds a good strength of salaried as well as self-employed individuals. The city is full of young minds who are either running their own business or working for a big IT firm.
About Car Loan
Lucknow is a place that needs no introduction when it comes to the high-class living. People living or working in Lucknow know that high society of this city has a great collection of cars. So, if you are also planning to buy a luxury car for yourself, apply for a car loan at one of the top banks in India and get low rates with flexible repayment option. You can choose the best car loan offer as per your eligibility and requirement in your location itself. Now, make your travel convenient with a car and live your life without hurting the pocket much.
Car Loan Lucknow in a nutshell
| Particulars | Details |
|---|---|
| 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 |
| Tenure/Repayment | 1-7 years |
| Lowest EMI | ₹1,594-₹2,015(per lakh) |
Eligibility Criteria required for Car loan in Lucknow
| Particulars | Salaried Individuals | Self-Employed Individual | Partnership Firm | Private/Public Ltd. Company (in existence for at least 3 years) |
|---|---|---|---|---|
| Age | The 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 loan | Any 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 lakhs | Minimum turnover of ₹2.50 lakhs |
| Job Stability | The total employment stability should be for at least 2 years and current employment stability of minimum 1 year | Business 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 giving Car Loan in Lucknow with Interest Rate and Address
| Banks Name | Main Branch Address | Car Loan Interest Rate (p.a.) |
|---|---|---|
| State Bank Of India | Tarawali Kothi Motimahal Marg, Hazratganj, Lucknow, Uttar Pradesh-226001 | 7.20% - 7.90% |
| HDFC Bank | HDFC Bank Ltd., 31/31 M.G Road Hazratganj, Lucknow, Uttar Pradesh-226001 | 7.95% - 8.30% |
| ICICI Bank | No. 14A, Shakutalam Plaza, Kanpur Road, Bara Birwa, Alambagh, Lucknow, Uttar Pradesh-226005 | 7.90% Onwards |
| Axis Bank | Halwasiya House,11 M.G. Marg,Hazratganj, Lucknow, Uttar Pradesh-226001 | 7.45% - 14.50% |
| Punjab National Bank | 4, Vibhuti Khand, Opp Picup Building, Gomti Nagar, Lucknow, Uttar Pradesh-226010 | 6.50% Onwards |
| Bank of India | Star House, Vibhuti Khand, Gomti Nagar, Lucknow, Uttar Pradesh-226010 | 6.85% onwards |
| Bank of Baroda | Aminabad Branch, 443, Ganga Prasad Road, PB No. - 227, Aminabad, Lucknow-226001 | 7% onwards |
| Central Bank of India | P.B. No-10, Akash Deep, 23, Vidhan Sabha Road DIST- Lucknow, Uttar Pradesh-226001 | 7.25% - 7.70% |
| Bank of Maharashtra | 21, Vidhan Sabha Marg, Lucknow-226001 | 6.40% onwards |
| IDBI Bank | IDBI Bank, 3rd Floor, Regional Office, Kisan Sahkari Bhavan, 2 M.G Marg, Hazratganj, Lucknow, Uttar Pradesh- 226001 | 7.50% Onwards |