Dena Bank Car Loan in Guwahati

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

About Dena Bank Car Loan Guwahati

Dena Bank was established on 26 ^th May 1938 by the family of Devkaran Nanjee under the name Devkaran Nanjee Banking Company Ltd. Subsequently, the name got changed to Dena Bank Ltd. and it became a public limited company in December 1939.

As the years pass by, Dena Bank Ltd. along with 13 other major banks became nationalized in July 1969 and is now a Public Sector Bank under the prerogative measures of the Banking Companies (Acquisition & Transfer of Undertakings) Act, 1970. It has successfully achieved a great milestone when the bank got selected amongst six Public Sector Banks by the World Bank for sanctioning a loan of ₹ 72.3 crores to foster the Tier-II Capital under Financial Sector Developmental project in the year 1995.

The bank marks its presence in Guwahati region as well. However, the bank hosts a plethora of products and services such as Treasury Operations, Corporate/Wholesale Banking, Retail Banking and Other Banking Operation. In addition, a car loan is a type of loan offered by Dena Bank that offers flexibility in availing the loan without any hassle-free documentation processes.

For getting a car loan from Dena Bank, the borrower needs to fulfill the eligibility criteria kept by the bank. The eligible participants of Dena Bank car loan include salaried Individuals, proprietary firm, partnership firms, and companies. However, the CIBIL score and credit history are also to be taken into account while verifying the application for the Dena Bank car loan. The car loans are secured loans as the hypothecation of the purchased car to be done by the bank and levies on the tenure of the loan. The car loan borrower needs to maintain a good CIBIL score(minimum 750) which assists them for speedy disbursal of loans from Dena Bank. The income of borrowers plays a major role as the income has a direct correlation in ascertaining the borrower’s repayment capacity in the longer run. The stipulated minimum income criteria are determined by the bank which specifies the minimum income for salaried individuals should be ₹ 2.50 lakhs per annum whereas₹ 3 lakhs per annum for partnership firm/companies. The interest rates are affordable to suit the pockets of the borrowers including individuals or corporates. However, the interest rates are charged on daily reducing balance and there are no such applicable prepayment charges thereafter. The banks, therefore, directly grant loans to the authorized dealer for whom the borrower has purchased the car. Moreover, Dena Bank has been exceptionally rated as one of the top-most car loan lenders in the market.

Dena Bank Car Loan Guwahati 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 Guwahati

Address of Dena Bank Branches in Guwahati