Overview
Get the car you like to buy, the easiest way you want it with 99banks online loan portal's fast Car Loan approval, which is easier to get from a lender bank
You just own your dream car on this good day - the one you have always been waiting for? 99banks online portal offers to apply for a Car Loan from reputed lender banks quickly and comes with exclusive features like 100% financing on select cars on the road price, it has flexible and easy EMI repayment tenure and financially friendly EMI so that the borrower gets a dream car they want, in a matter of hours!
99banks offer applicants to easily apply for a car loans from leading banks. Car loan can be applied to both salaried and self-employed. What's more, we not only help you raise the amount but also we assist a car loan applicants in finding their dream car and the right the best dealer with best offers. So, what are you waiting for? Apply for your dream Car Loan today!
Instant New Car Loan
If you are looking to get into the speed lane as soon as possible to get your dream car, the 99banks loan portal has come up with a car loan application facility tailor-made for you. Apply for a car loan which is an instant Car Loan process provided by the leading banks.
Loan Amount
Get a car loan up to INR 5 crore on a wide range of brand new cars and multi utility cars
Enjoy 100% finance from the on-road price of car**
Top Up Loans
Previous ongoing car loan (new or old) customers can get a top-up loan with no documentation required
Flexible Repayment Tenure
99banks online loan portal giving an opportunity for the car loan applicant's Flexible repayment tenures from 12 months to 84 months an easy EMI method
Quick and easy Processing and Approval
End-to-end brand new Car Loan process documentation can happen now in just 30 minutes!
Enjoy the best and most transparent, quick, and easy loan process that is entirely paperless and digital.
PURPOSE
Car Loan can be availed by individuals for personal use:
Purchase of Old four wheeler, not older than three years
Purchase of a New two wheeler
Purchase of a New four wheeler
Car Loan can also be availed by private sector Companies / Firms for professional use i.e. purchase of a car for usage by their Managing Directors, directors, managers/employees.
Pros:
New car loans usually have a lower rate of interest compared with older ones.
It is much easier to avail of a car loan from leading lender banks.
Since it comes under the secured loan, an individual with a minimum credit score is also likely to be eligible for the loan to buy a car.
The car which is purchased through the loan itself acts as a security against the loan.
Cons:
The Applicant or borrower will be required to provide a down payment.
The car, bike or any other car will be hypothecated to the bank or private lender and you will receive the complete ownership only after all payments have been made. No objection certificate (NOC) will be provided only after the completion of all loan tenures and pending's.
Salaried :
Minimum required age of the loan applicant: 21 years
The Maximum age of the car loan applicant (At loan Maturity time): 70 years/retirement age whichever is earlier.
Minimum Annual Income should be Rs.2,40,000/- to apply for a car loan
Income proof: Salary Slip, Form 16/ ITR, Bank statement showing salary credit
Self-Employed Professionals :
Minimum required age of the car loan applicant: 21 years
Maximum age of the car loan applicant should be: (At loan Maturity): 70 years
Minimum 2 years in the business or profession
Income proof: for Last 2 years with computation of income / certified financials, Balance Sheet, P & L A/c, Bank statement
The Equated Monthly Installments (EMIs) that borrowers of a car loan will pay depend on a few key factors.
The processing fees
The tenure of the loan
The size of the loan
The interest rate that is applicable to the loan
It takes only 2 working days to get the car Loan sanctioned from the banks, after the submission of requisite documents and papers through the 99banks online portal.
The On-road price of the car includes RTO registration, Ex-showroom price, Insurance and basic accessory cost of the car, bike, or any other car purchased through car loan or cash in hand.
The bank takes a holistic view of the car, bike, or any other car loan application. The CIBIL score report stand alone is not the complete criteria for the loan. However, a higher CIBIL score is considered good. The minimum cut-off for a CIBIL score is 701 at present for applying for a car loan.
Yes. Pre approved customers or applicants of the car loan can avail 100% of the on-road price. However, the on-road price should be equal to or less than the offer amount of the particular car or bike. For customers or applicants who are not eligible for pre-approved car loans, 100% on-road funding is possible basis the merits of the case like income, stability, FOIR, CIBIL, and internal checks.
The down payment would vary from car to car. However, before the loan amount disbursal of a Car, bike Loan a margin money receipt is required from the car dealer.
This guarantor part would depend on the merits of the case applied for the car loan. Generally, co-applicants are preferred in car Loan cases and the Guarantor can be taken if required.
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