1. Basics about car loans
A car loan is the best solution when you want to buy a car. A car loan is a secure loan, where the bank does the payment of your car and then the borrower repays the bank in small installments at an interest rate. If you are looking for a car loan in Nashik, then our Paisabazaar website will help you do that in less than a minute. The website will show you a list of the banks that are offering car loans in Nashik. You should consider applying for a car loan in Nashik after doing a detailed research about the loan schemes at best interest rates available. You repay the bank at a given EMI, however, your EMI depends on the loan tenure and the interest rates applicable. You can choose your loan tenure as per your convenience and the interest rates are never too high, starting at 9.35%.
2. Reasons to apply for car loan
Buying a car in Nashik by applying a car loan is the most convenient way to buy a car. It reduces your worry, so that you can choose the best car model as per your requirement. Few benefits of availing a car loan in Nashik are:
Convenience: You are basically ready to make the car purchase in terms of finances and you do not have to worry about arranging money.
Good Balance in Saving Account: With a car loan in Nashik you do not have to pay the whole car amount at once, hence you maintain your saving balance while your bank pays for your car.
Boost Your Credit Score: On-time repayment will enhance your credit history, as your credit score can go higher. With a higher credit score you are more likely to get any future loans easily as you are a more trustworthy borrower in the books of banks.
3. Interest Rates in Nashik
Interest Rate for car loans in Nashik are same as in any other Indian city. Few examples of Interest Rates for car loan in Nashik are as follows:
- Union Bank of India: Interest Rate starts from 9.90%
- State Bank of Patiala: Interest Rate is 9.95% onwards
- Federal Bank: 9.75% onwards
Indian Bank: Interest rate is 9.95%
4. Nashik banks and their offers
Many Nashik banks offer car loan schemes, and you can check these one first:
1. Oriental Bank of Commerce:
- Interest Rate is 10.70%
- A guarantor is required
Maximum loan amount eligible is Rs 1 Cr
2. Axis Bank:
- Interest Rate starts from 9.50%
- Maximum loan tenure is 7 years
- Processing fee is up to Rs 5500
Pre closure charges is 10% of the loan amount outstanding
3. Federal Bank:
- Interest rate is 9.75% onwards
- Processing fee can go up to Rs. 2500
- Maximum loan tenure is 5 years
- No guarantor required
You can simply log in at our website Paisabazaar.com and provide your details with the car details you wish to buy. Choose a good car loan in Nashik from the list of most suitable ones by submitting your details and clicking ‘Apply’.