Delhi City

1. A definition of car loan


Looking for a car loan? Are you in need of a new car? Well, your search about car loan ends here. We will guide you with a brief about different banks in India that are offering car loans. Various banks offer various car loans for and each bank has their own Interest Rate for a car loan in Delhi.  Before choosing a car loan you should always do a research to understand your requirements better. A car loan is a secured loan and therefore every bank considers the car as collateral against the loan. If you fail to repay the amount that you have borrowed, the bank can use your car to cover the expenses. 


2. How can car loan money help you to achieve your goals


The first advantage of car loans in Delhi is the possibility to purchase a better car than you could afford.


Car loan allows you to pay in monthly installments which will remove the burden of paying the whole amount at once.


3. Some things that you should keep in mind about car loans


Before applying for a car loan in Delhi, do a thorough research. Every bank has different schemes with their loan and hence their Interest Rates differ a lot from each other. The interest rates have a lot to do with your credit history. If you have a higher credit score, then you are more likely to get a loan easily at a lower interest rate. Hence, you should always pay your EMIs on time to maintain a good credit history.


4. Interest Rates in banks of Delhi


Some of the banks with good Interest Rates in New Delhi are:
 

  1. Federal Bank: Interest Rate starts from 10.90%
  2. HDFC Bank: Interest Rate starts from 9.50%
  3. Bank of India: Interest Rate is 9.50%
  4. Canara Bank: Interest Rate starts from 9.80%


5. Car loan offers in Delhi


Various banks offer car loans in Delhi. Some of them are:

1. ICICI Bank:
 

  • Interest Rate between 9.50% and 10.75%
  • Processing fee up to Rs 6,153
  • Loan Tenure up to 7 years
  • Pre-closure charges are 5% of the outstanding loan amount
  • No guarantor is needed
     

2. Allahabad Bank:
 

  • Interest Rate is 9.80%
  • Loan Tenure up to 7 years
  • Processing fees are 0.50% of the loan amount
  • No guarantor is needed
     

3. Indian Bank:
 

  • Interest Rate on car loan is 9.95%
  • Processing fee is 0.229%
  • Loan Tenure for repayment of the loan goes up to 7 years


Apply for a car loan in New Delhi less than a minute by visiting our Paisabazaar.com website and registering yourself with the required details and your loan requirements. The website will show you a list of car loans in New Delhi. You can use our online tools – car loan calculator and car loan eligibility calculator for free.

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