Dena Bank Car Loan in Ahmedabad

Last Updated : March 18, 2017, 10:07 a.m.

About Dena Bank Car Loan Ahmedabad

Dena Bank is one of the eminent public sector banks which was founded by Devkaran Nanjee and his family on 26 ^th May 1938 under the name Devkaran Nanjee Banking Company Ltd. As the years pass by, the bank became a Public Ltd. Company in 1939 and its name get changed to Dena Bank Ltd. The bank is one amongst 13 banks which became nationalized in July 1969 and Mumbai became its headquarters. It was one amongst the very few banks to get selected by the World Bank in the year 1995 for disbursing the loan amount of ₹72.3 Crores under Financial Sector Development project for the training and technological upgradation purposes. The bank gains foothold through 1,773 branch networks and some of the branches occupy Ahmedabad city as well. The bank engages itself to offer different types of loan schemes such as Dena Trade Finance, Dena Gold Loan Scheme, Dena Vidya Laxmi Educational Loan Scheme, Dena Senior Citizen Pensioners’ Loan Scheme, Dena Suvidha (Personal Loan) Scheme, Dena Loan Against Property Scheme, Dena Vehicle Loan Scheme, Dena Consumer Durable Loan and Dena Doctor+. A car loan is one amongst few such loan which is extensively been preferred by people of Ahmedabad and other regions.

Dena Bank Car loans are provided at an affordable interest rate and competitive terms, which offers advantages to the customers. Financing options are available for both new cars along with the used ones which are available from suitable tenures to choose from. The margin requirements for the new car is 15% whereas for a used car it is 20%(upto 3 years old). The financing of Dena Bank car loans can be done upto ₹ 200 lakhs for purchase of a new car but it depends on the specific eligibility criteria for individuals obtaining the loans. The salaried employees with a minimum income of ₹ 2.50 lakhs are eligible to apply for the car loan, provided they have cleared all their financial obligations within time. On the other hand, the minimum income for partnership firm/companies should be ₹ 3 lakhs per annum with a good financial standing. Dena Bank car loan for new cars can be opted to purchase any make and model of the car for the repayment period upto 7 years. As opposed to the used cars(the second handed cars upto 3 years old), the repayment period should not exceed 3 years. Accruing to these benefits, Dena Bank is the most preferred lender of a car loan in the market.

Dena Bank Car Loan Ahmedabad at a glance

Eligibility Criteria

• Salaried Individuals, proprietary firm, partnership firms and companies are eligible to apply for the car loan.
• The minimum income for salaried individuals/proprietary firm is ₹ 2.50 lakhs per annum.
• The minimum income for partnership firm/company is ₹ 3 lakhs per annum.

Documents Required

• 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 PAN Card.
• 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

To know more, visit Car Loan Ahmedabad

Address of Dena Bank Branches in Ahmedabad