Dena Bank Car Loan in Chandigarh

About Dena Bank Car Loan Chandigarh

Dena Bank is one of the leading public sector banks in India which offers several products like deposits, loans, international banking, corporate banking, priority banking as well as products to service the needs and requirements of small and medium enterprises. As the bank has outstretched its presence through 1,773 branch networks, some of them gain a foothold in Chandigarh city as well. Apart from the regular offerings of products and services, a car loan is one such loan which is availed by people of Chandigarh and outside in order to easily convert their dreams of owning a car into reality.

When it comes to availing Dena Bank car loans, the bank offers attractive rates of interest to its customer. The disbursement of the loan is quick and documentation processes are simple without posing any inconvenience which ultimately becomes a publicly acclaimed loan among borrowers. The maximum loan amount offered by Dena Bank is upto ₹ 200 lakhs on the new car with a margin requirement of 15% as against the margin of 20% for the used car(upto 3 years old). Whether you want to purchase any type, make and model of a car, Dena Bank has car loans for them too. The repayment options are flexible enough, giving you a room to comfortably plan out your monthly installment. Moreover, the interest rates are charged on a daily reducing balance and no repayment charges are levied thereon. The bank directly disburses loan to the authorized dealer from whom you have bought your car. Owing to its competitive features, Dena Bank is ranked one of the top financial products that are easily availed by people. But the eligible income for availing car loans differs from individuals to corporates. As the prescribed minimum income for salaried class employees has been set upto ₹ 2.50 lakhs per annum whereas ₹3 lakhs for self-employed professionals. Dena Bank offers car loan which is capped at 85% of the showroom price. Due to such benefits possessed by the bank, Dena Bank is rated as one of the top most car loan lenders in the market.

Dena Bank Car Loan Chandigarh at a glance

ParticularsDetails
Interest Rate8.90% - 11.35%
Loan AmountUpto ₹ 200 lakhs for purchase of a new car.
TenureMaximum upto 7 years for new vehicle.

2nd hand four-wheeler(upto 3 year old)-Maximum upto3 years
Processing Fee₹ 500 irrespective of loan amount (Plus service tax as applicable from time to time)
Pre-payment ChargesNil

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 Chandigarh

Address of Dena Bank Branches in Chandigarh

Branch NameComplete AddressIFSCMICRContact Number
ChandigarhSector NO.7 - C, Madhya Marg, Chandigarh - 160007BKDN07104701600180010172-795540/795726
Sector 38 ChandigarhSCO - 182, Chandigarh, Sector 38/C, ChandigarhBKDN0731225NON-MICR0172 - 26545467

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