Bank of India Car Loan
Why Bank of India Car Loan?
Are financial problems resisting your desires of buying a car? Press a brake on your out flowing thoughts. Bank of India is here with its best offer on Car Loan. It is well known for its attractive and reliable services. Get the Best Bank of India Car Loan with Affordable Interest Rates & EMIs. Loannow will help you in availing the best Car loan, with instant and quick approval.Cherish your life with the ride of a fascinating car. Enjoy the incredible drive and make your life colorful.
- Funding up to 95% of Car’s ex-showroom price.
- Loan tenure up to 7 years.
- Attractive Interest Rate @ 9.50%*
- Easy and simple documentation.
- Special Offer for Bank of India salary account Customers.
- Flexible and Affordable EMIs.
- Quick and Instant approval of Loan
- Attractive deals from associated car dealers.
- Easy and minimum Documentation.
Bank of India Car loan Documents
Documentation required for Car Loan
List of Car Loan documents required
- Age proof
- ID proof
- Application form
- Residence proof
- Income proof
- Bank statement
- Signature verification proof
- Pro-forma Invoice or Rate List
Post Sanction / Pre Disbursement Documentation
- Loan Agreement duly signed along with RTO set
- Standing Instruction (SI) Request / ECS Form / Post Date Cheques (PDCs). Security Cheques required for SI and ECS
- Margin money receipt
Bank of India Car Loan Eligibility
Eligibility for Car Loan
|Eligibility||Individuals as well as Business Concerns (Corporate or non-corporate).Minimum net monthly salary / pension / income – 20000/-. Income of spouse /Parent can be added.|
|Amount Provided||For Individuals / Proprietorship Concerns: 25 times of the monthly net salary OR Rs.25 lacs (for one or more vehicles), whichever is lower. Income of parent(s) / spouse can be taken into account for determining loan amount. In such cases, the parent(s)/ spouse shall stand as additional guarantor. For Business Concerns (Corporate or non-corporate): No ceiling on loan amount (for one or more vehicles).|
|Interest Rates||New Car: 9.50% to 10.25% depending on the segment of vehicle and tenure selected (Floating)Pre-Owned Car: 13.50% to 15.00% depending on the segment of vehicle (Floating)|
* Interest rate can vary as per individual's portfolio.
* All loans repayment period are over 6 months. No short term loans.
* Credit at sole discretion of the Banks we have a tie-up with.
* The Organisation do not charge money from customers.