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Car Loan Kaise le जानिए सबसे सस्ता कार लोन कौन से बैंक दे रहे हैं

Car Loan Kaise le:- Due to Corona, keeping in mind the social distancing, most of the people are giving priority to commuting somewhere by their own vehicle. In such a situation, the trend of people regarding their car has increased. If people are not able to arrange money to make their car dreams come true.So many banks finance 100% of the cost of the car. 

Almost every bank in the country provides car loans, however, if we talk about car loans at the cheapest rates, then a car loan can be taken from Canara Bank at the rate of 7.3 percent. Talking about the country's largest bank SBI, SBI is offering car loans at the rate of 7.5 percent on applying through YONO app and is also not charging any processing fee.Car Loan Kaise le

How can you take a car loan?

Car Loan Kaise le: Earlier, buying a car was a big deal for anyone, because for this a large lump sum amount had to be spent,It is everyone's dream to have a branded car along with the house. Car not only makes your life comfortable, but also reduces many difficulties. Coming to the office while battling public transport or going out for a weekend trip, everything becomes very easy.Car Loan Kaise le.

Car Loan Kaise le

Car Loan Kaise le जानिए सबसे सस्ता कार लोन कौन से बैंक दे रहे हैं

Car Loan Kaise le: Lending companies give loans on both new and used cars. However, the interest rates on these two are different. The interest rates for new cars range between 9.25 -13.75 per cent, while for used cars the interest rates range between 12.50 and 17.50 per cent.Car Loan Kaise le.

State Bank of India

  • State Bank of India (SBI) is providing car loan at cheapest rates.
  • Applying for a car loan through the YONO app allows you to get a loan at the rate of 7.5 per cent and no processing fee.
  • If you do not apply through YONO app, you get a loan at the rate of 7.75-8.45 per cent per annum and processing fee of 0.4 per cent (exclusive of GST) of the loan amount, minimum 1 thousand and maximum 7500 rupees, GST extra.
  • SBI provides finance up to 90% on the on road price and the interest is calculated on the decreasing balance every day.
  • There is a repayment period of up to 7 years.

Bank Of Baroda

  • Like SBI, Bank of Baroda also finances 90 per cent of the car's on-road.
  • The existing home loan borrowers of Bank of Baroda who have a good credit history, the bank is also offering a discount of 0.25 percent on the interest rate of the car loan.
  • The maximum loan tenure is 7 years.
  • Interest is calculated on the decreasing balance every day.
  • Car loan has a processing fee of 0.5%. However, there is a maximum processing fee of 10 thousand.
  • Car loan interest rates range from 7.25 per cent to 10.1 per cent per annum.
  • Maximum loan amount: Rs 1 crore.

Canara Bank

  • Canara Bank finances up to 90% for Central/State/Government/Autonomous Bodies/PSU employees for cars up to Rs.25 lakh and up to 80% for cars costing above Rs. Provides 90 percent finance for other employees for a car up to 10 lakhs, 85 percent for a car of 10-25 lakhs and 80 percent for a car above 25 lakhs.
  • Interest rate: 7.3 percent to 9.9 percent.
  • Repayment Tenure: 84 Months.
  • Processing fee: 0.25 percent of the loan amount, minimum Rs 1,000 and maximum Rs 5,000.


  • HDFC Bank provides 100% financing on certain vehicles.
  • Flexible repayment tenure from 12 months to 84 months.
  • Maximum loan amount: Rs 3 crore.
  • Processing fee of minimum 1% of the loan amount, minimum 5 thousand rupees and maximum 10 thousand rupees.
  • Interest rate: 8.8-10%


  • 100% financing of the car's on road price.
  • Processing fee of Rs.3500-8500. Depends on the car segment.
  • ICICI Bank offers car loans at the rate of 9.85 per cent per annum for 12-35 months and 7.9-8.80 per cent per annum for tenures of 36-84 months.Car Loan Kaise le.

Documents required for car loan application

  • Bank account statement for the last six months
  • 2 passport size photographs
  • Identity Proof (Passport, PAN Card, Voter IT Card or Driving License etc.)
  • Address Proof (Ration Card, Driving License, Passport, Telephone Bill, Electricity Bill or Life Insurance Policy etc.)
  • Income Certificate Salary Slip Form 16
  • IT Returns or Form 16 for the last two years
  • Audited Balance Sheet in case of Non-Salaried/Professional/Business, Profit and Loss statement for two years, Shop and Establishment Certificate/Sales Tax Certificate/SSI Registered Certificate/Copy of Partnership
  • Khasra/Chitta (with cropping pattern given)- Patta/Khatauni (land holding given) with photograph in case of people engaged in agriculture or allied activities. All the land should be on free hold basis and the ownership proof should be in the name of the borrower.

Who can take a Car Loan?

Car Loan Kaise le: Before applying for the loan, there are some conditions, which you need to keep in mind. This includes information about age, minimum salary, type of job and residence.

Hypothecation letter is also a part of the car registration process. Once you repay the loan, you can remove the hypothecation of the lending company from the registration papers.

To remove the hypothecation, you will have to go to the concerned registration transport office with no objection certificate, car insurance papers and address proof.

It is important to note here that it is necessary to take NOC from the company giving the loan. After this, give it to the insurance company and issue the insurance paper in the name of the new owner.

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