1. Car loan: a solution for your lack of money
An old car or a new one? How about increasing your budget with a car loan and buy your favorite car? With a Car loan in Gwalior, it becomes very easy to buy a new car as you no longer have to compromise on the car model. Instead of paying for the car in whole you can pay in small amount as per you monthly budget.
There are various banks that offer car loan scheme, each bank has different Interest Rate for a car loan in Gwalior, so you should do a thorough research before applying.
2. Why should you get this loan?
Choose a good car loan scheme to buy your car. A Gwalior car loans can help you to choose the car of your dreams. The bank pays the car dealer on your behalf, and all you need to do is pay the bank in small cheques. Since the Gwalior car loan has a monthly mode of repayments, therefore, you can plan your finances more easily. To buy a new car is a long term investment as we do not buy cars very frequently. It is really important to consider financial balance and long-term sustainability as a key factor.
3. Other details about Gwalior car loans
Below are some of the important factors that are should be considered before availing a car loan:
Loan Tenure: While applying for a car loan in Gwalior, you should choose longer loan tenure. Your monthly interest rates on your EMIs are lower when you choose longer loan repayment period.
Credit Score: A good credit score can reduce your interest rate for your Gwalior car loan.
Timely Repayment: A car loan is a secured loan. Bank considers your car as the collateral against your loan, hence, to avoid losing your car you should pay your monthly EMIs on time.
4. Car loan Interest Rates in Gwalior
When you begin your research, you will notice that each bank has different Interest Rates for a car loan in Gwalior. However, they start from 9.35%
The Interest Rates in Gwalior for a car loan are different for different bank:
- Bank of Maharashtra: Floating Interest Rate is 10.10%
- Central Bank of India: Interest Rate is 10.10%
- IDBI Bank: Interest Rate is 9.95%
- State Bank of India: Interest Rate is 9.65%
5. Banks that offer car loan schemes
Detailed rates of Gwalior banks offering car loan schemes are mentioned below:
1. Union Bank of India:
- Interest Rate is 9.90%
- Maximum loan amount is 85% of the on-road price
Maximum loan tenure is 7 years
2. Andhra Bank:
- Fixed Interest Rate is 10.25%
- No Processing fee required
No guarantor is required.
3. ICICI Bank:
- Interest Rate ranges from 9.50% to 10.75%
- Processing fees up to Rs 6,153
- Maximum loan tenure is 7 years
No pre-closure charges
Now you can apply for a car loan in Gwalior in less than 1 minute by visiting our Paisabazaar.com website. All you need to do is fill in your personal details, enter your requirements and submit the documentation for a car loan. Then the website will show you all the car loans that you can avail in Gwalior. Simply choose one and click ‘Apply.