Syndicate Bank Car Loan

About Syndicate Bank Car Loan

A dream car is something everyone wants to have. In today’s time, the dream is getting encashed in the advent of suitable financing options from the lenders. If you have figured out your dream car and are hunting for a lender from which you can borrow a loan at an attractive intrest rate, then Syndicate Bank is here to let you grab a good car loan deal. The bank finances loan for the purchase of new as well as used cars with different repayment periods. People from salaried professionals to self-employed are eligible to apply for the bank’s car loan. Syndicate Bank finances car loan through SyndVahan scheme, the details of which are illustrated below.

Syndicate Bank Car Loan Interest Rates and Other Details

ParticularsDescription
Interest Rate9.10%
Maximum Loan AmountUpto 95% of the On-road Price
Maximum Repayment Tenure7 Years
Processing FeeAs Applicable by the Bank
Other ChargesAs Applicable by the Bank

Now check the eligibility criteria and documentation for car loan via SyndVahan

Eligibility Criteria

ParametersSalaried ProfessionalsSelf-employed
Age21-60 years21-65 years
Minimum IncomeMinimum annual income of Rs 1,20,000 per annumMinimum annual income of Rs 1,20,000 per annum
Employment/Business ContinuityNot specified by the bankNot specified by the bank

Documentation

ProofsSalaried ProfessionalsSelf-employed
Age ProofPassport Copy/ PAN Card/ Voter ID card, Photo Driving License with birth date (laminated, recent , legible)/Photo ration card with DOB/Employer certificate/ID/School/College Leaving CertificatePassport Copy/ PAN Card/ Voter ID card, Photo Driving License with birth date (laminated, recent , legible)/Photo ration card with DOB/Employer certificate/ID/School/College Leaving Certificate
Identity ProofPAN Card/ Voter ID/Passport/Driving License, photographPAN Card/ Voter ID/Passport/Driving License, photograph
Income ProofSalary Slip/Salary Certificate, Income Tax / Wealth Tax (if applicable) Returns for the past 3 yearsBalance Sheet for the last 3 financial years, Income Tax / Wealth Tax (if applicable) Returns for the past 3 years
Address ProofLatest Telephone Bill/ Electricity Bill/Property Tax Receipt/Passport/ Voter IDLatest Telephone Bill/ Electricity Bill/Property Tax Receipt/Passport/ Voter ID
Quotation for Vehicle to be purchased from the authorized dealer.YesYes

Syndicate Bank Car Loan EMI Calculator

You can take advantage of Syndicate Bank Car Loan EMI Calculator to calculate the EMI, a sum of interest and principal amount payable towards a loan until the loan is paid off fully. The calculator is easy to use and understand. With a mere entry of loan amount, interest rate and loan tenure, you can get an indicative EMI amount. Apart from that, interest and overall payment amounts will also appear on the screen. If you are panning to avail a car loan of Rs. 5 lakhs for 7 years, below is the calculator showing the amounts of EMI and other variables in different loan tenures.

Table showing interests and EMIs on car loan of Rs 5,00,000 for different periods at Syndicate Bank

Loan Amount
( In Rs.)
Tenure
(In years)
Interest Rate
(p.a)
EMI
( In Rs.)
Total Interest
( In Rs.)
Total Amount (Principal +Interest)
( In Rs.)
5,00,000 19.15%43,76125,1265,25,126
5,00,000 29.15% 22,87749,043
5,49,043
5,00,000 39.15%15,93573,6535,73,653
5,00,000 49.15%12,47898,9525,98,952
5,00,000 59.15%10,4161,24,9376,24,937
5,00,00069.15%9,0501,51,6036,51,603
5,00,00079.15%8,0831,78,9436,78,943

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EMI Calculator