Dena Bank Car Loan in Indore

Last Updated : March 18, 2017, 5:35 p.m.

About Dena Bank Car Loan Indore

Dena Bank is one of the reputed nationalized banks which was established in 1938. Founded by Devkaran Nanjee and family with the name Devkaran Nanjee Banking Committee Limited. It was converted into a public limited company in the year 1939 and hence, became nationalized bank in July 1969 along with 13 other major banks.

Dena Bank has its headquarters based out at Mumbai and is listed in both Bombay Stock Exchange and the National Stock Exchange. The bank also marks its presence in Indore city as well.

It was one amongst the very few banks selected for availing the benefits of the loan from the World Bank to technologically upgrade itself. The bank was also selected for the purpose of disseminating the loan of ₹72.3 Crores for meeting out the expenditures of the Financial Sector Development project in the year 1995. The bank offers various types of products and services such as Treasury Operations, Corporate/Wholesale Banking, Retail Banking and Other Banking Operation. Out of various loan products, a car loan is one such loan extensively been preferred by people of Indore and outside regions to fulfill their dreams of owning a car one day.

Dena Bank engages itself in promoting such customers dreams to a higher level where each customer gets personalized attention from the bank officials while at the time of their car loan verification process. The interest rates are flexible enough to accommodate the pockets of every borrower. The maximum limit set by the bank for availing car loan is upto ₹ 200 lakhs on the new car with a margin requirement of 15% as compared to the margin of 20% set by the bank for the used car(upto 3 years old). The customers of Indore can plan out their car purchase for any type, make and model of a car. However, the customers can even comfortably plan their monthly instalments as the repayment period is set upto 7 years for the new car and 3 years for the second-handed cars. But the customers need to have a stipulated eligible income in order to fulfill the criteria of availing car loans. The minimum income for the salaried individuals has been set upto ₹2.50 lakhs per annum whereas ₹3 lakhs for self-employed professionals. Moreover, the car loans have been capped by the bank at 85% of the showroom price. Owing to such benefits, Dena Bank has been ranked as one of the top most car loan providers in the marketplace.

Dena Bank Car Loan Indore 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 Indore

Address of Dena Bank Branches in Indore