1. An introduction to car loans
Do you want to get a new car? Is money a problem? A Jaipur car loan can help you to buy a brand new vehicle. Mostly people avail a car loan only to purchase a new car. But car loan in Jaipur can provide you a loan for both old and new cars. You just need to apply for a car loan from any bank, at our Paisabazaar.com website. The bank will pay for your car and you have to repay the bank in equated monthly installments.
2. Why should you apply for a car loan scheme?
A car loan can help you to manage your finances better. Purchasing a new car is a huge investment. By availing a car loan to buy a car you get to keep the whole car amount in your savings as an emergency fund. You never know what the future has in store, you can use the money to save or even invest somewhere. By taking a car loan, you have to pay the bank in small installments at an interest rate which is pre-decided.
3. Interest Rates for car loans in Jaipur
When you begin your search for the loan, you will see that various banks have varied interest rates. But Interest Rates for car loans in Jaipur start at 9.35%.
- Kotak Bank: Starts from 9.50%
- HDFC Bank: Interest Rate is 9.50% onwards
- Federal Bank: Interest Rate starts from 10.30%
- Canara Bank: 9.65% onwards
Below are the rates of some Jaipur banks that offer car loan schemes:
1. Andhra Bank:
- Interest Rate is 10.25%
- Maximum loan tenure is 7 years
- No processing charges or other fees that you need to pay
Guarantor is not required
2. Indian Bank:
- Floating interest Rate is 9.95%
- Processing fee is 0.229% of the loan amount
Guarantor is not required
3. State Bank of Bikaner and Jaipur:
- A floating Interest Rate is only 10.10%
- Processing fees amount Rs. 500
Maximum loan tenure is 7 years
3. Car loan Documentation details
There are a couple of important factors that you should keep in mind. The first things that you should consider are the interest rate, and the interest rates are directly proportional to your credit history and loan tenure. The banks in Jaipur are offering car loan are very particular about the monthly repayments. If you fail to pay your monthly installment on time, then the bank has the right to seize the car they paid for.
There are many car loans that you can find in Jaipur on our Paisabazaar.com website. You can apply for your car loan in less than a minute. You just need to provide your personal details and loan requirements the website will show you a list of loans available in Jaipur. You can choose the best loan as per your requirement.
You would have to submit following papers for proceeding with your car loan application:
- Income proof
- ID proof, such as passport, ration card, Voter ID card, driving licence
- Age proof
- Address proof, such as bank statement, utility bills
- Passport-sized photographs
- Form 16