Car Loan in Nagpur

Updated: 20-06-2022 13:30:23 PM

1. Car loan – a brief explanation

Planning for a big purchase? A brand new or a used car of a higher model? Is money a speed breaker for your big purchase? A car loan in Nagpur can be the solution to your financial worries as the bank pay a major portion of the on-road price of your car. You simply need to apply for a Nagpur car loan from a reputed bank at our Paisabazaar website. You can use our free online tools – Car Loan Eligibility Calculator and Car Loan Eligibility Interest Rate Calculator. After, you understand your eligibility and the interest rate applicable on your loan amount you can proceed to apply for your loan.

2. Things that you need to know before applying for the loan

Almost every Nagpur bank can offer you a car loan scheme like HDFC Bank, ICICI Bank, State Bank of India, Federal Bank and many more. However, you should always do a detailed research before you apply for a loan scheme. Firstly, you should know how much loan is enough for you and that you can repay it on time. Then, you need to compare all the loan offers available by various banks in Nagpur. Lastly, you can apply for your loan which is the most suitable amongst all the Nagpur bank can offer you a car loan scheme.

The interest rates for car loan in Nagpur vary as per the loan tenure you choose. Longer loan tenure means lower interest rates.

3. Reasons to apply for car loan

The simple reason to buy a car against a car loan is quick money. With a car loan, you are financially stronger to make a better decision for your car purchase as you do not have to worry about making arrangements for your money. On the other hand, with a Nagpur car loan you become financially more disciplined as the repayment mode will help you organize your finances better, without worrying about your financial well-being at any point.

4. Nagpur banks and Interest Rates

The Interest Rate for car loan in Nagpur starts from 9.35%. Let’s have a look into the interest rates of the Nagpur banks offer car loan schemes:

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

Below is a detailed view on the interest rates and various other charges for the car loan schemes in Nagpur:

1. State Bank of Bikaner and Jaipur:

• Interest rates start from 10.10%
• No guarantor required
• Processing fees are Rs 500

2. HDFC Bank:

• Interest Rate is 9.50% onwards
• Minimum loan amount can be Rs 1,00,000
• Collateral charges are Rs 450 per case

3. Canara Bank:

• Interest rate is between 9.80% and 9.85%
• Processing fee is 0.25% of the loan amount
• No pre-closure charges
• Maximum loan tenure is 7 years

You need to follow the steps as below to apply for car loans in Nagpur at our Paisabazaar website:

1. Log on to our Paisabazaar Car Loan page
2. Choose your car type that you wish to buy, a new or a used car, loan amount, your city, and any other personal and car details
3. Our website will show you various car loans available in Nagpur city, which suits your requirements
4. After submitting all the details, select the bank that you want to be your lender and click ‘Apply’