Dena Bank Car Loan in Patna

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

About Dena Bank Car Loan Patna

Dena Bank is a public sector bank which was nationalized in 1969 along with 13 other banks by the Government of India. Originally founded under the name Devkaran Nanjee Banking Company in the year 1938 and later on renamed as Dena Bank in 1939. The bank is acknowledged as the first amongst other banks in terms of :

• introducing minor savings scheme

• launching the credit card in rural India under the name “Dena Krishi Sakh Patra (DKSP)”

• launching smart card at selected branches in Mumbai,

• establishing ATMs counter in Juhu, Mumbai and;

• forming the base for customer rating system in order to rate the bank services.

The bank has an extensive reach through 1,773 branches throughout the country and some of the branches gain a foothold in Patna as well. As a public sector bank, Dena Bank is involved in providing services like direct tax collection. It also provides other range of products and services in the fields of deposits, loans, international banking, corporate banking, internet banking, priority and small & medium enterprise services. Across the varied loans, the car loan is one such loan that is offered by the bank.

In order to avail car loan from Dena Bank, an applicant needs to satisfy the eligibility criteria kept by the bank.Salaried Individuals, proprietary firm, partnership firms and companies are eligible to apply for the car loan. However, the CIBIL score and credit history are also to be considered while considering the application for the Dena Bank car loan. The car loans are secured loan as they require the hypothecation of the car purchased to be done by the bank and applicable on the tenure of the loan. An applicant needs to maintain a good CIBIL score(minimum 750) which helps them for speedy loan approvals from Dena Bank. The income of individuals and corporates play a vital role as the income affects the applicant's repayment capabilities in the longer run. The stipulated minimum income criteria are set by the bank which prescribes 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 flexible enough to suit the repayment capacity of an individual or corporates. However, the bank charges interest on daily reducing balance and there are no such prepayment charges levied thereon. The banks, therefore, directly disburse loan to the authorized dealer for whom the applicant has purchased the vehicle. Moreover, the bank has outstandingly been voted as one of the top-most car loan providers in the market.

Dena Bank Car Loan Kochi 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 Patna

Address of Dena Bank Branches in Patna