Jammu & Kashmir Bank Car Loan

Updated: 02-12-2020 08:05:47 AM

 

About Jammu & Kashmir Bank

Jammu & Kashmir Bank (J&K Bank) was founded in the year 1938 in Srinagar, Jammu & Kashmir. The bank was established as a Semi-State Bank under the control of State Government. The bank is a universal bank for Jammu & Kashmir and it works as a specialized bank for the rest of the country. In 1971, the J&K Bank received the status of a scheduled bank and in 1976 it was stated as an “A” Class bank by the Reserve Bank of India and is also the only bank from private sector which is RBI’s agent for banking business, and collects central taxes for CBDT apart from carrying out the banking business of the Central Government. The J&K Bank is rated P1+, indicating the highest degree of safety by Standard & Poor and CRISIL.

J&K Bank has the motive of delivering innovative financial solutions for small and medium enterprises, household, operating on the principle of ‘socially empowering banking’. The Bank has a network of 689 branches and 613 ATMs throughout the country.

Jammu & Kashmir Bank Car Loan

Buying your own car is an important turn in one’s life and a major expense as well. Those who do not have enough resource to arrange for a large amount all together and fund the vehicle they wish to buy, availing car loan to buy the car and repay to the bank in convenient installments. The J&K Bank car loan schemes come with pre-approved car loans, pre-owned car loans, are flexible and simple for purchasing new as well as pre- used cars, making them one of the best car loans in India. Moreover, J&K Bank car loan offers you the required amount to pay for the vehicle at low interest rates and flexible repayment options and tenures.

Jammu & Kashmir Bank Used Car Loan

Buying a car involves a considerable amount of money, but only a few people have the capability to pay such a big amount to buy a vehicle. Therefore, J&K Bank car loan enables buying used cars at low interest rates and with flexible repayment options to its customers.

J&K Bank disburses car loans that are attractive as they provide competitive rates of interest and high car loan amount eligibility on deals on car loans to its customers, helping them buy their dream car. Accompanied by quick loan disbursals, the requirements for J&K Bank car loan are simple, and these loans are available for all groups of people, be it the people working in the public sector or private sector, whether self-employed, professionals, agriculturalists, or Business owners. J&K Bank Car Loans include no prepayment charges.

Features of J&K Bank Car Loan

• J&K Bank car loan comes for new and used cars to individuals and proprietorship concerns
• Processing charge on J&K Bank car loan is 0.50% of loan amount (a minimum of Rs 500 is charged)
• J&K Bank car loan has flexible repayment options ranging from 12 to 84 months
• Rate of interest on a J&K Bank car loan can be fixed or floating
• J&K Bank car loan comes with lower rate of interest for women borrowers
• No prepayment charges applicable on J&K Bank car loan
• The maximum limit of the loan amount for J&K Bank car loan is Rs 50 lacs