Lucknow City

1. Understanding the car loan


Planning for drives around the Lucknow city with your own new car? But looks like money is a problem! A good car loan scheme in Lucknow is all you need to solve your problem. Car loans are a secured form of loan, where the bank pays for the car you wish to buy. You just need to provide a couple of details you’re your income slab, car you wish to buy, your location, etc and provide the copies of your documents. Yes, you have to repay the bank but in small installments. These installments shall be in the form of equated monthly installments (EMIs), which the bank will collect from you at an interest rate. There are various banks that provide car loan scheme in Lucknow, the interest rates for the banks are not too high and are 9.35% onwards documentation for a car loan.


2. When to apply for this loan


There are various advantages of buying your car with a car loan. The best of them is that your Interest rate for car loans in Lucknow is based on a good credit history and the loan tenure you choose. A clean credit history with good credit score make you more likely to get your car loan in Lucknow easily approved. Before applying for a car loan, you should always be ready with your homework about your budget, financial condition and various car loans available. A wrong decision about your car loan to buy your car can lead to wrong financial decision. Since you repay the bank at an interest rate therefore, it is important to choose your interest rate and loan tenure smartly.


3. Important documents required for getting a car loan:


You would have to submit following papers for proceeding with your car loan application:
 

  1. Income proof
  2. Form 16
  3. ID proof, such as passport, ration card, Voter ID card, driving licence
  4. Age proof
  5. Address proof, such as bank statement, utility bills
  6. Passport-sized photographs


4. Banks of Lucknow and Interest Rates


The Interest Rates for car loans in Lucknow start from 9.35%. Let’s have a look at the rates of some good banks that offer car loans:
 

  • Allahabad Bank: Interest Rate is 9.80%
  • Bank of India: Interest Rate is 9.70% onwards
  • Bank of Maharashtra: 10.10% onwards
  • Oriental Bank of Commerce: Interest Rate starts from 10.20%


5. Where to apply for Lucknow car loan


It is not a difficult thing to find car loan schemes in Lucknow. You can find different institutions that can offer you a good scheme. Some of them are:
 

1. Union Bank of India:
 

  • Interest Rate is 9.90%
  • Maximum loan tenure is 7 years
  • No Pre closure fees
     

2. Andhra Bank:
 

  • Interest Rate is 10.25%
  • No pre closure charges
  • No guarantor required
     

3.    State Bank of Patiala:
 

  • Interest rate is 9.95% onwards
  • Processing fee is 9.95%
  • Pre-closure fees is 2% of the loan amount


Sit back and apply for a car loan in Lucknow in less than a minute at our Paisabazaar.com website. Simply log in and enter your details. Paisabazaar.com will show you all the good banks offering car loans in Lucknow. Choose your loan scheme to buy your brand new car for all your hassle free rides..

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