Car Loan Rates EMI 20202007 views
Table of Contents
About Nainital Bank Car Loan
Nainital Bank offers car loan scheme with the name ‘Suhana Safar’ to all individual borrowers. The car loans are provided to purchase new & old four wheelers(cars or jeep) and new two wheelers; also the loans are available for repaying the existing car loans of other Banks/Financial Institutions/Finance Companies.
Now you can easily plan your trips or weekend getaways or a long drive once you acquire the ownership of your car by settling your claims through Nainital Bank Car Loans.
Nainital Bank Car Loan Eligibility Criteria
1. All individuals who are atleast 21 years of age are eligible to apply for Nainital Bank car loans.
2.Proprietorship/Partnership Firm /Private and Public Ltd. Companies and agriculturists are eligible to apply for Nainital Bank car loans.
Nainital Bank Car Loan Interest Rates
|Interest Rate||7.80% - 8.90%|
|Loan Amount||Maximum loan for new cars:₹ 75 lakhs|
Maximum loan for old cars:₹ 25 lakhs
|Tenure||7 years for new cars & 4 years for old cars|
|Age Limit||Minimum : 21 years & max. 60 years|
|Processing Fees||As per bank's norm|
|Prepayment Charges||As per bank's norm|
|Loan Margin||On New cars:|
Minimum 10% on road price
Minimum 15% on road price
For Old cars:
Minimum 25% of present value
Nainital Bank Car Loan EMI Calculator
Nainital Bank Car Loan EMI Calculator is a user-friendly arithmetical tool which helps you to know about the estimated monthly installments which you will shell out from your net salary intake each month. Just enter the following details in your Nainital Bank Car Loan EMI Calculator :
Expected loan amount
Enter the interest rate of your car loan
Tenure of the loan
Based on the above information, the calculator will show you the details on your monthly installment that you are supposed to pay for the car loan and assists you in planning your budget accordingly.
|Year||Principal(in ₹)||Interest(in ₹)||Balance Amount(in ₹)|
|7||364,816- 369,138||17,308- 18,434||0|
Features of Nainital Bank Car Loan
Hassle-free documentation procedure
Clear terms and conditions to understand
The Hypothetication of the car purchased through car loan can be provided as primary security.
Lower margins on car loans
Farmers can opt for loan repayment schemes on half-yearly basis in accordance to crop patterns.
Documentation Required for Nainital Bank Car Loan
|Age Proof||Passport/PAN Card/ Voter ID card, Photo Driving License with birth date/Photo ration card with DOB/Employer certificate/ID/School/College Leaving Certificate||Passport/PAN Card/ Voter ID card, Photo Driving License with birth date/Photo ration card with DOB/Employer certificate/ID/School/College Leaving Certificate|
|Identity Proof||PAN Card/ Voter ID/Passport/Driving License, photograph||PAN Card/ Voter ID/Passport/Driving License, photograph|
|Income Proof||Salary slips for the last 3 months, latest Form 16, bank statement of last 6 months showing credit of salary in the account,||CA-certified balance sheet for the last 3 financial years, ITR for the last 3 years, 6 months bank statement of the main account|
|Address Proof||Latest Telephone Bill/ Electricity Bill/Property Tax Receipt/Passport/ Voter ID||Latest Telephone Bill/ Electricity Bill/Property Tax Receipt/Passport/ Voter ID|
|Sign Verification Proof||Driving License/Passport copy/PAN Card||Driving License/Passport copy/PAN Card|