1. A brief introduction to car loans
A car loan is the most helpful personal finance product to help you purchase a car (used or new car). Your worry about arranging money to buy a new car ends with a car loan. Car loans are secured loans, where your bank pays for the car. Once you have received your car, you just need to repay the bank in small installments every month at specific interest rates for car loans in Patna. A Patna car loan ensures that you buy your car, while you still have your savings in your bank account.
Apply for a car loan in less than a minute at our Paisabazaar.com website:
- Find out loan eligibility with our Car Loan Eligibility Calculator
- Choose the car that you wish to buy
- Complete the loan application form
- Choose the car loan scheme that best fits your requirements
- Click ‘Apply’
It really couldn’t get quicker!
Patna car loans are secured loans. After you get your car, you will have the obligation to repay the bank in EMIs for the loan tenure. The repayment process is quick and easy and that you have to repay as per the interest rates that is applicable to the banks offering car loans in Patna.
2. Why you have to apply for the car loan?
A Patna car loan provides you the opportunity to buy a car that you weren’t able to buy with your own money. A car loan helps you to widen the scope by allowing you to buy the car you couldn’t. There are various banks that offer car loans in Patna. Different banks charge interest rates on the EMIs differently, which you should thoroughly check before applying for a car loan in Patna.
3. What should you know before submitting the application?
A car loan in Patna has one golden rule, i.e. timely repayments. Since car loans are secured loans, therefore, they simply mean that the bank can settle failure of repayments by considering your car as the collateral. However, if you live a financially disciplined lifestyle, then this might not be the case with you. You should apply for a car loan after doing a detailed research on your budget and the banks that offer car loan schemes.
4. Interest Rates in banks of Patna
You can easily apply for the car loan because there are a great variety of banks offering car loans in Patna. The examples of Interest Rates of loan schemes provided by the banks of Patna are:
- Bank of India: 9.50% onwards
- Andhra Bank: Interest Rate is 10.25%
- Dena Bank: Interest Rate starts from 9.60%
- HDFC Bank: Starts from 9.50%
5. Patna banks with good car loan schemes
Some of the banks in Patna that have good car loan scheme:
1. ICICI Bank:
- Interest Rate is 12.75% onwards
- Minimum Loan amount is Rs 1L
Maximum loan tenure is 7 years
2. Federal Bank:
- Interest Rate is 10.90%
- Processing fee is up to Rs 2,500
- Maximum loan amount is Rs 2.5 Crs
Maximum loan tenure is 5 years
3. State Bank of Hyderabad:
- Interest rate is 9.75% onwards
- Processing fees are 0.25% of the loan amount
- No pre-payment charges
- Maximum loan tenure is 7 years