Dena Bank Car Loan in New Delhi

Last Updated : March 14, 2017, 10:15 a.m.

About Dena Bank Car Loan New Delhi

Dena Bank with its headquarters in Mumbai was constituted in the year 1939. Later on, the bank became nationalized in July 1969 along with 13 major banks. The bank places a strong presence in New Delhi, the capital of India. The bank offers various products and services such as deposits, loans, international banking, internet banking, corporate banking, priority and small & medium enterprise services. Among the loan products, a car loan is one such prestigious loan which is offered by the bank to salaried individuals, partnership firms, proprietary firm, and companies for the purpose of financing the purchase of new cars and the second-handed cars.

The bank offers attractive interest rates to its customers. The disbursement of the loan is quick and enclosed under hassle-free documentation processes as compared to other leading car loan providers, Dena Bank car loans are much publicly acclaimed by the loan seekers. Dena Bank provides maximum loan amount upto ₹ 200 lakhs on the new car with a margin requirement of 15% as opposed to the margin of 20% for the old car(upto 3 years old). The bank offers car loan for all types, makes, and model with suitable repayment options that are flexible in nature. Moreover, Dena Bank charges interest on daily reducing balance and there are no repayment charges applicable. The bank directly disseminates loan to the authorized dealer from whom you have purchased your car. A car loan provided by Dena Bank, owing to its competitive features, is ranked one of the top financial products that are available to people. However, the income criteria for availing car loans differ from individuals to corporates. As the minimum income stipulated for salaried class individuals put to ₹ 2.50 lakhs per annum whereas ₹3 lakhs for self-employed professionals. The car loan from Dena Bank is capped at 85% of the showroom price. Owing to these benefits, Dena Bank is rated as one of the top most car loan provider in the market.

Dena Bank Car Loan New Delhi 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, visit Car Loan New Delhi

Address of Dena Bank Branches in New Delhi