Car Loan Patna

About Patna

In the year 2009, Patna got the title of second-best Indian city to start a business as per the World Bank. Other than this, the real-estate sector of the city is also at its peak and heading towards being the industrial hub of Bihar. Patna’s economy has sustained the economic growth since 2011 and also the gross state development product (GSDP) of the districts of Patna, tops the list. Patna is also the second-largest city in the eastern part of India after Kolkata and has several sugar mills in and around. The city is also an important business and luxury brand center of eastern India. In addition to this, the per-capita gross domestic product of this city is ₹1,06,000 as of 2015.

About Car Loan

Patna is a busy city and for the convenience traveling, a car becomes the necessity. Since the scope of employment is high in Patna, people from over the country and the world, are nowadays living here. But, now a car is not only for those who can afford it. Yes, with some of the top banks offering car loans in Patna, you can also apply for a car loan if you are living in Patna. People from all class can now choose an affordable loan scheme and get a car for themselves without paying high-interest rates. The wide range of options for a car loan in Patna in almost all major banks at attractive rates becomes the key attraction for a car loan borrower. So, you can choose the best car loan as per your eligibility and repayment comfort and make your life smoother in Patna.

Car Loan Patna 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 Patna

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 in Patna

  • 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 Patna Interest Rate and Address

Banks NameMain Branch AddressInterest Rate (p.a.)
State Bank Of IndiaWest Gandhi Maidan, patna, Bihar-8000019.05% - 12.60%
HDFC BankBimla Sadan, Holding No # 801 / 432, Ward No # 37, Exhibition Road, Patna - 800001, Bihar8.00% - 13.00%
ICICI BankH-39 Doctors Colony, Kankarbagh, Patna- 800020 10.75% - 15.50%
Axis BankSaket Towers, S P verma Road, Patna-800001

11.00% - 12.00%

Punjab National BankDanapore Cantt, District. Patna, Bihar 8.75% - 9.20%
Bank of IndiaPatna Main, Fraser Road, Post Box No. 166, Patna, Bihar-8000019.25%
Bank of BarodaBailly Road, Ashiana More, Patna, Bihar-8000148.80% - 10.55%
Central Bank of IndiaLaxmi Complex, Boring Road, Patna 8.70%
Bank of MaharashtraKalyan Bhawan First Floor, Khajpura, Bailey Road, Patna-8000148.90% - 9.40%
IDBI BankKashi Place Complex, Daak Bunglow Road, Opposite Heera Place, Patna 9.95% - 12.05%

People Also Look For

Personal Loan Interest Rates December 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 Bank12.00% - 17.00%
Tata Capital10.99% - 18.00%
Home Loan Interest Rates December 2018
State Bank of India/SBI8.75% - 9.35%
HDFC8.80% - 9.70%
Bank of Baroda8.65% - 9.65%
LIC Housing8.85% - 9.05%
PNB Housing Finance9.00% - 13.00%
ICICI Bank9.10% - 9.35%
Axis Bank8.85% - 9.10%
Citibank9.00% - 9.85%
Indiabulls Housing Finance Limited8.80% - 11.05%
Kotak Bank8.90% - 8.75%
DHFL9.05% - 9.95%
Reliance Home Finance8.75% - 14.00%