All About Used Car Loan Pala
What is Used Car Loan Pala?
A used Car loan is the best option to buy a car if you have limited finance. You can get financial help from the banks and NBFCs. All you need to be eligible for the loan. The Banks need your documents for the approval of the loan. Documents required for a car loan may differ as per the profiles.
Interest Rates for Used Car Loan Pala
The car loan interest rate for used cars is 14.00% reducing. For example, If you applied for a loan of Rs. 6,00,000 and after completion of one year you have to pay an amount of Rs. 5,00,000 then 14% will be charged on this particular amount and same will be continued.
Eligibility Criteria for Used Car Loan Pala
First of all, age of the applicant should be minimum of 21 years and maximum of 65 years.
After that, minimum employment 1 year in present company and a minimum of 2 years of work in total.
Also, Monthly income of the applicant should be Rs 24,000.
Firstly, the Minimum age of the applicant should be 30 years and 25 years if you have an earning co-applicant.
Secondly, Maximum age of the applicant at loan maturity is 60 years.
After that, applicant should have Minimum employment at least two years in business.
Most noteworthy, Minimum ITR filed should be 2.5 lakhs annually for two consecutive years.
Documents required for Used Car Loan Pala
Identity Proof: Passport copy, PAN Card, Voters ID card, Driving License, Aadhar Card
Income Proof: For Salaried Latest 3 months salary slip and 6 months bank statement. For Self- Employed Last 2 ITR filed and 6 months bank statement.
Address Proof: Ration card / Driving license / Voters card / Passport Copy / Telephone Bill / Electricity Bill / Life Insurance Policy / PAN Card / Aadhar Card
Bank Statement: Bank statements for the last six months is also required.
RC and Insurance Copy
- Rent agreement is needed only in case of government employees.
Why should one choose Used Car Loan Pala?
- There are very easy Repayment options for Used Car Loan.
- Most note-worthy, Instant funding and quick disbursal.
- Loan Tenure varies from 1 to 7 years.
- Rates of Interests are affordable.
- Processing of Used Car loan is fast and hassle-free.
- Also, There are no hidden charges for the same.
Why should you choose DialaBank for a used car loan?
Truthsawer offers you a car with the lowest interest rates and with hassle free documentation.
Truthsawer Used Car Loan is one of the best options that allow an individual to buy a car.
We offer car loans up to up to 5 years tenure.
Apply now on our official website for instant approval and faster processing.
How to apply for Used Car Loan Pala?
- First of all, You have to Visit our site i.e, Truthsawer
- Secondly, Go to the loan section and select auto loan followed by car loan link.
- After that, Provide all your information, including your phone number.
Additional Information for Used Car Loan Pala
First of all, the CIBIL score of the applicant needs to be more than 700.
In this, the loan tenure is from 12 months to 60 months.
The minimum amount of credit that can be claimed by the applicant is Rs. 1 lakh.
The persons are having CIBIL 0, 1, -1 is also considered for the loan.
Pala is a major Indian municipal city located 28 km east of the district capital Kottayam in the Indian state of Kerala. It is spread over an area of 74.09 square kilometres and is situated 173 km north of the state capital Thiruvananthapuram.
Used Car Loan Providers in 2019