Dena Bank Car Loan in Hyderabad

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

About Dena Bank Car Loan Hyderabad

Dena Bank is one of the esteemed 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. Further, it became a Public Ltd. Company in 1939 and its identity gets changed to Dena Bank Ltd. In July 1969 Dena Bank Ltd. along with 13 other banks was nationalized and Mumbai became its headquarters. The bank was selected by the World Bank in the year 1995 for disseminating the loan amount of ₹72.3 Crores under Financial Sector Development project which has made the bank technologically upgraded. The bank acknowledges its presence through 1,773 branch networks and some of the branches occupy Hyderabad city as well. The bank devotes itself to offer numerous types of products and services in the form of loans, deposits, internet banking, corporate banking, international banking, priority lending including small & medium enterprises services. Among them, a car loan is one such loan which is widely accessible by people of Hyderabad and other regions as well.

Dena Bank car loan can be availed in a quicker time with instant approvals. Dena Bank offer car loans for both new and second-handed cars at competitive interest rates. The car loan application from Dena Bank is accepted from salaried individuals, partnership firms, proprietary firms, and companies. The minimum income possessed by salaried individuals should be ₹ 2.50 Lacs per annum for availing car loan as compared to partnership firm/companies where eligible income need to be ₹ 3 Lacs per annum. Since Dena Bank offers one of the best car loans in India, the car loan disbursals can go upto ₹ 200 lakhs for purchase of a new car. Car loans offered by Dena Bank have a maximum repayment period of 84 months for new cars and a maximum upto 36 months for a second-handed car(upto 3 months old). The loan margin required by Dena Bank is 10% for a corporate salary arrangement, 15% for a new car and 20% for a second-handed car(no older than 3 years).The hypothecation of the purchased car to the bank is required as security for the Dena Bank car loan. However, the loan amount approved from a Dena Bank is directly disbursed to the car dealers. Regardless of the loan amount, a processing fee of ₹ 500 is applicable on a Dena bank car loan.Moreover, the bank also routinely offers promotional and festive deals on car loans.

Dena Bank Car Loan Hyderabad 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 Hyderabad

Address of Dena Bank Branches in Hyderabad