Car Loan -Get New Car prices Apply for Loans - Personal/ Business/ Car Loan/ OD-CC limit

Car loan is the quickest of all loans. Sometimes, you can get delivery of vehicle within 2 days of applying loan. Morever, it requires less documentation and interest rates are quite low. Used car loans are also available at www.anekloan.com.

Eligibility: PAN card/no is a must. Income proof or without income proof schemes are also available. Loan amount is decided by credit officer, after going through customer profile. Amount varies from 70% to 90% of showroom price.

Documents required:

2 photographs
pan card/IDproof
Residence proof
3 monthSalary slip
Form 16
6month bank statement

For Self- employed: 2 photograph.pancard.residence proof. 2 year ITR , 6 month bank statement

Loan process: Firstly, identify the vehicle you wish to buy. Then depending on your down payment amount, finalize loan amount, tenure and emi. After the bank approves your loan application ,you can ask the vendor to deliver the vehicle. The repayment of loan can be made through post dated cheques /ECS..

Interest rates: It varies from 11.5% to 13.5% on reducing balance method. Tenure available is 1year to 5 year.

Processing fee:Depending upon the loan amount it varies from 1% to 1.25% of loan amount.The fee is directly deducted from the loan amount.

Prepayment Penalty :4%-5% of outstanding principal amount is charged if u you wish to pre-pay the entire loan before completion of tenure.