CreditMantri Finserve Private Limited
Door No.3, Block B, No. 147, 2nd Floor, Workeasy Space Solutions, RK Swamy Centre, Hansa Building, Pathari Road,Thousand Lights, Chennai, Tamil Nadu600006
Have any queries? Click here for more details
All written queries will be responded within 1 working day.
We'd love to help you through every step along the way.
Is your Credit Score >750?
Owning a car in today’s time has become a necessity rather than a luxury. But every time you dream of owning a car, you worry about the costly EMIs or the down payment that you think you will never be able to pay. Now, it’s time to stop worrying – you can apply for a loan in a bank and get your dream car home. With the economic uplift in most cities of India, the car loan industry has got a severe boost. People are now not only dreaming about owning a car, but are actually buying it. EMI or Equated Monthly Instalments are making it easier for people to pay loans and enjoy the comfort of a car.
First, let’s understand the term, Equated Monthly Instalments or EMI – when one takes a loan, the borrower needs to pay the bank the money on monthly instalments. These instalments depend on the loan amount taken, the loan tenure and the interest rate offered by the bank. Some banks even offer EMIs based on the changing market prices. The EMI can go higher or lower based on the market shares. There are also instances when the bank allows the loan borrower to pay a huge sum as down payment so that the monthly EMIs are reduced.
Karur Vysya Bank is an exceptional bank that has been serving Indians across the country with excellent banking solutions. The bank provides you with prompt and precise services for car loans by offering excellent interest rates to car loan borrowers. If you are wondering how to finance the purchase of the car of your choice, you need not worry anymore. You can get great car loans from Karur Vysya Bank.
CreditMantri has a credible EMI calculator which can be help you while availing all kinds of loans from leading lenders in India. When you apply for car loan in Indian Bank, there are some eligibility factors on which basis Indian Bank approves your car loan.
The income of the loan borrower helps in determining your capacity to repay the loan. Indian Bank gives car loan to only those whose minimum net annual salary is Rs. 2 lakh. This calculator is simple and can be used by just entering details like the loan amount, interest rate and tenure. In case, your individual car loan eligibility as calculated by the car loan eligibility calculator is less than the loan you need, you can add the income of earning family members.
Once you know the EMI amount, you have a clear idea of the EMI that you need to pay each month. Also, if you have a good credit score, you will be entitled to better loan terms and save a substantial amount every month. If this is your first car loan, then it is advisable that you create a profile on CreditMantri to check if the loan is suitable for your credit profile.
While the price of the car or the interest rate of the car loan are definitely the important factors that determine which loan you must opt for, there are other factors at play as well. You must have a look at your income levels and ensure that your debt-to-income ratio doesn’t exceed 30%-50%. This ratio will enable you to repay your loan with ease.
Another very important factor is your credit score. This is a score given by the credit bureau based on three main parameters:
A good credit score can help you negotiate better car loan terms with a lender. If you have a credit score above 700, you can avail a loan with lower interest rate and save a lot of money every month.
1. What types of four wheelers can be purchased with Karnataka Bank Car Loan?
All kinds of new four wheelers can be purchased using Karnataka Bank Car Loan. Second-hand/used/pre-owned vehicles not more than 5 years from its date of registration can also be purchased with Karnataka Bank Car Loan.
2. I am planning to purchase a used vehicle with Karnataka Bank Car Loan. What is the maximum loan quantum that will be offered?
The maximum loan amount for a used car that Karnataka Bank offers is Rs.20 lakh.
3. Can NRIs apply for Karnataka Bank Car Loan?
Yes, Karnataka Bank Car Loan is offered to Non Resident Indians also.
4. How do I calculate the EMI for Karnataka Bank Car Loan?
To calculate the EMI amount for Karnataka Bank Car Loan, you can use the online car loan EMI calculator tool offered by CreditMantri. You will need to input details like principal amount, tenure and interest rates to find out the monthly instalment amount and amortization schedule.
5. Do I have to present a guarantor for Karnataka Bank Car Loan?
Yes, individual applicants must present security in form of third-party co-obligation or guarantee.
How can I apply for a Karnataka Bank Car Loan?
Customers can visit any of the nearest Karnataka Bank branch to apply for a Karnataka Bank Car Loan or contact CreditMantri. Customers will be asked to fill out an application form and present all necessary documents to proceed with the car loan process.
Allahabad Bank Car Loan EMI Calculator
Andhra Bank Car Loan EMI Calculator
Axis Bank Car Loan EMI Calculator
Bank Of India Car Loan EMI Calculator
Bank Of Maharashtra Car Loan EMI Calculator
Central Bank Of India Car Loan EMI Calculator
City Union Bank Car Loan EMI Calculator
Corporation Bank Car Loan EMI Calculator
Dena Bank Car Loan EMI Calculator
Dhanlaxmi Bank Car Loan EMI Calculator
Federal Bank Car Loan EMI Calculator
HSBC Bank Car Loan Emi Calculator
ICICI Bank Car Loan Emi Calculator
Indian Bank Car Loan EMI Calculator
Indian Overseas Bank Car Loan EMI Calculator
Jammu Kashmir Bank Car Loan EMI Calculator
Karnataka Bank Car Loan EMI Calculator
Magma Fincorp Car Loan EMI Calculator
Nainital Car Loan EMI Calculator
Punjab Sind Bank Car Loan EMI Calculator
RBL Bank Car Loan Emi Calculator
SBI Car Loan Emi Calculator
South Indian Bank Car Loan EMI Calculator
Syndicate Bank Car Loan EMI Calculator
Tamilnad Mercantile Bank Car Loan EMI Calculator
Union Bank Of India Car Loan EMI Calculator
United Bank Of India Car Loan EMI Calculator
Vijaya Bank Car Loan EMI Calculator
Yes Bank Car Loan EMI Calculator
CreditMantri will never ask you to make a payment anywhere outside the secure CreditMantri website. DO NOT make payment to any other bank account or wallet or divulge your bank/card details to fraudsters and imposters claiming to be operating on our behalf. We do not sell any loans on our own and do not charge any fee from our customers/viewers for the purpose of loan application