1. Basic information about car loans
If you are looking for a brand new car, then a Cochin car loan is what you need. People take a car loan in Cochin even if they have the money, to avoid the burden of paying at once and then going bankrupt. It is always best to buy a brand new car and still have a good savings balance. This is possible only if you buy your car with a car loan. To apply for a car loan you can visit the Paisabazaar.com website and provide your requirements.
2. How can a car loan help you?
Car loan in Cochin can help you to buy a better car. Buying a car with a car loan is the smartest move. You do not have to pay the lump sum amount at once as the repayment mode of a car loan is monthly. This way you can even keep your savings intact and go driving with your brand new car with your family.
3. Features of Cochin car loans
A Cochin car loan is a secured loan that has its tenure, Interest Rate, and repayment process.
Below are some of the basic features of a car loan:
Tenure: You should know that the loan tenure of the Cochin car loan determines the monthly rates. Your interest rates are directly relational with your loan tenure. A smart choice of loan tenure can help you to get low Interest Rates for any car loan in Cochin.
Credit history: As a borrower, you should always maintain a higher credit score in your credit history. The higher is your score the lower shall be your interest rates.
4. Cochin banks and car loan Interest Rates
In Cochin, each bank offers a different car loan. They start from 9.35%Some banks with good Interest Rates for car loan in Cochin are:
- HDFC Bank: Interest Rate starts from 9.50%
- Dena Bank: Floating Interest Rate of 10.10%
- Capital First: Interest Rate can be between 13% and 14.50%
- Canara Bank: Interest Rate is a floating one, and it varies anywhere between 9.80% and 9.85%
5. Ways to apply for Cochin car loan
You can find banks that offer a car loan scheme in Cochin:
1. Bank of Maharashtra:
- Interest Rate starts from 10.10%
- You don’t need a guarantor to apply
Processing fee is 0.25% on the loan amount
2. Central Bank of India:
- This bank offers a floating Interest Rate starts from 9.75%
- Maximum tenure period that you can choose is seven years
- Fees depend on the loan amount, and they can reach Rs 20000
- You will need a guarantor when applying for car loan in Cochin.
3. IDBI Bank:
- A fixed Interest Rate is 9.95%
- There are no processing fees
- Tenure of the loan can go up to 7 years
- Pre-closure charges up to 1%
Check our Paisabazaar website to get various quotes on car loans. To apply for a loan, you will have to provide your personal details, loan requirements and submit some documentation for a car loan. According to these details, the system of the website will create you a list of possible offers. All these offers have good Interest Rates for car loans in Cochin.