Overview of Product
Car Loan Consultant in Bangalore, India:
Looking for a car loan in Bangalore? Grab Capital can help you find the best car loan scheme for your needs! Whether you’re a first-time buyer, looking for a family car, or want your dream ride, we offer competitive rates and flexible options to make it happen. Here’s how Grab Capital can assist you with your car loan in Bangalore:- Wide Range of Car Loan Schemes: We offer car loan schemes for both new and used vehicles.
- Fast Approvals: Get a swift response on your loan application to keep you on the same page with the seller.
- Strong Bargaining Power: With approved financing, negotiate like a cash buyer and secure a great deal.
- Affordability Calculator: Use our financing calculator to determine your budget and choose a comfortable repayment plan.
- Competitive Rates: Enjoy competitive variable interest rates on your car loan.
- Flexible Payment Options: Choose flexible payment options that suit your financial situation.
- High Loan Amounts: Get financing amounts equivalent to showroom prices for new cars (adjusted for used cars).
- Extended Loan Terms: Enjoy loan periods of up to 7 years for new cars.
- Minimal Processing Fee: Our processing fee is minimal for added convenience.
- Secured Loan: The car serves as a bank lien, providing security for the loan.
Car Loan Schemes in Bangalore:
- New Car Loan: This is the most common type of car loan, financing the purchase of a brand new car.
- Used Car Loan: Financing for a pre-owned vehicle. Interest rates may be slightly higher than new car loans.
- Balloon Payment Loan: Lower monthly payments with a larger final payment at the end of the loan term.
- Flexi Loan: Offers flexibility to pay interest-only EMIs initially, with the option to convert to regular EMIs later.
Loan Against Rental Income Interest Rate in Bangalore, India
| Name of Lender | Interest Rate | |
|---|---|---|
|
SBI
|
8.75% onwards |
|
|
HDFC Bank |
8.75% onwards |
|
|
LIC Housing Finance |
8.75% onwards |
|
|
Kotak Mahindra Bank |
8.75% onwards |
|
|
ICICI Bank |
8.75% onwards |
|
|
Punjab National Bank |
8.75% onwards |
|
|
Bank of Baroda |
8.75% onwards |
|
|
IDFC First Bank |
8.75% onwards |
|
|
Axis Bank |
8.75% onwards |
|
|
Godrej Housing Finance |
8.75% onwards |
|
|
Canara Bank |
8.75% onwards |
Why Choose Grab Capital ?
How much are you looking for?
Car Loan EMI Calculator
Calculate Your EMI Below and Apply with Confidence!
EMI
Total Interest Payable
Total Amount
Eligibility Criteria for Car Loan in Bangalore, India
Our Car Financing eligibility criteria at Grab Capital are thoughtfully crafted to simplify the application process, ensuring a hassle-free experience for you.
- Age of the individual must be between 18 years and 75 years.
- Minimum net monthly income of Rs. 20,000.
- Credit score should be above 750
- At least one year of employment with the current employer.
Documents required for Car Loan in Bangalore, India
At Grab Capital, we prioritize your convenience. Our Car Financing application process is streamlined, requiring minimal documentation.
- Application Form
- ID Proof
- Residence Proof
- Proof of Income
- Proof of Income Proof of Insurance and Driving License
Note: Please be aware that the list of eligibility and documents mentioned above for the fund is not exhaustive. Additional documentation may be necessary as part of the application and processing requirements.
Ready to Secure Your Funds?
Your Eligibility Is Confirmed, It’s Time to Apply for the Funds You Need to Achieve Your Financial Goals!
FAQ's
Frequently Asked Questions
Car financing is a type of financial assistance provided by banks and financial institutions to help individuals purchase a car. It allows people to buy a vehicle by borrowing the necessary funds and then repay the financing amount in installments over a specific period, often with added interest.
- Strong credit score: Aim for a score above 750 for the best rates and faster approval.
- Stable employment: Show proof of consistent income with salary slips or business documents.
- Healthy debt-to-income ratio: Keep your existing debts low compared to your income.
- Complete documentation: Ensure all necessary documents are submitted accurately and on time.
- Consider a co-signer: A co-signer with a good credit score can strengthen your application. (Check with Grab for their specific requirements)
Typically, car loans don’t cover the entire car price (on-road price). Down payments are usually required. Grab can connect you with lenders offering various loan-to-value ratios.
The minimum credit score can vary depending on the lender. Generally, a score above 700 is considered good for car loans in India.
The down payment amount can vary. It typically ranges from 10% to 25% of the on-road car price. A higher down payment can lead to lower interest rates and faster approval.
Car loan tenures typically range from 12 months to 84 months (7 years). Grab can provide you with options based on your needs and affordability.
Yes, pre-payment is usually allowed but some lenders may have pre-payment penalties. Check with Grab for specific details on pre-payment options with their partnered lenders
The EMI amount depends on the loan amount, interest rate, and tenure. Using a car loan calculator (available on many lender websites) can help you estimate your EMIs.