Dena Bank Car Loan in Chennai

Last Updated : March 18, 2017, 3:28 p.m.

About Dena Bank Car Loan Chennai

Headquartered in Mumbai, Dena Bank was incepted in the year 1938 under the name Devkaran Nanjee Banking Company Ltd. and is one of the earliest nationalized banks of India. Dena Bank offers premier financial services of great value and promises superior financial returns along with good economic growth to its customers and shareholders. The bank establishes its presence in Chennai through some of its branches. Moreover, the bank offers an extensive range of products and services such as Personal Baking Services involving Deposit, Loan and Investment Services, Priority and Small & Medium Enterprises (SME) services, International Baking Services, Corporate Banking Services and a host of other Value Added Services. Regardless of the loan products, a car loan is one such loan that the prospective buyer prefers to avail from Dena Bank as the loans are offered under comprehensive financing plans which fall in the affordability reach of the buyer.

Dena Bank has various types of loans on offer. The loans are extensively been available for the purchase of both new cars and the used ones. The salaried individuals, proprietary firm, partnership firms, and companies are eligible participants to avail Dena Bank car loan. The retail customers along with the corporates take the advantage of hassle-free loan application and allotment process. The customers get sanction on the loan for any make and model of their choice. The upper limit set by the bank to avail car loans for a new car is set upto ₹ 200 lakhs whereas the margin requirement is 15%. The monthly repayment for a new car is set upto 7 years as against 3 years for the second-hand cars. The car loans offered by Dena Bank comes with a simple application process at attractive interest rates. There are no hidden charges as such. Owing to these benefits, Dena Bank is rated as one of the top most car loan lenders in the market. If you are planning to purchase a new car or a used one, then you must consider the Dena Bank plans as it is offered with an affordable option along with several benefits on it.

Dena Bank Car Loan Chennai 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 details, visit Car Loan Chennai

Address of Dena Bank Branches in Chennai