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Get car loans in India that are best matched to your credit profile
Noida—considered to be India's greenest city—is in the state of Uttar Pradesh. Home to exotic birds, Noida boasts of some state-of-the-art and cutting-edge educational institutions, hospitals, companies, and shopping malls.
Considered to be a real-estate hub, Noida is fast becoming the destination of choice for migrants all over India. Noida has emerged as a hot spot for IT, ITES, KPO, BPO, and BTO industries with many large companies setting up their base here.
Noida is home to some of the leading banks and other NBFCs in India. Are you looking for a car loan in Noida and wondering what your options are? You have reached the right place. Read on!
A car loan is one which is used to buy any type of car be it a sedan, hatchback, SUV etc. for own or commercial purposes. They are generally structured as installment loans which the borrowers will repay in Equated Monthly Installments (EMI). These car loans can be got from any bank and NBFCs who are willing to provide the service based on their eligibility criteria.
To get a car loan in Noida and to drive home your dream car you need to meet the eligibility criteria of the banks and also have the necessary documentation
Age criteria: Age of the applicant should be between 21 and 75 years, the applicant should be an Indian national. In terms of salary should have a minimum of 10,000 INR and the employment type of the applicant can be salaried or self-employed.
To get the best car loan offer in Noida, most banks also look into the credit score of the applicant, as per general guidelines any score on any credit bureau above 750 is considered a very good and creditworthy by the banks.
Tenure: Car loans usually are shot terms loans starting from as a short as even one year and extending up to five years.
Do check for the exact eligibility criteria from the lenders directly however you can check your credit health and get an idea about eligibility on CreditMantri by creating a credit profile.
1. Makes it easy to buy a car – Buying a car is not easy nor is it possible for everyone. A car loan is a good way for people to buy a car and pay back the money at a tenure they are comfortable with while enjoying the vehicle.
2. Loans for pre-owned cars – Most of the banks and provideivate lenders provide loans for used cars. The loan amount will depend on the car type, resale value and model but it still eases out the financial situation of a borrower.
3. Flexi loans – Most banks provide loans at flexible tenures which the borrower can choose making it easier for the them to repay the loan.
4. No collateral – car loans are a form of secured loan as the car purchased acts as the collateral. No additional collateral or guarantor is required in most cases.
You can get the following benefits on the car loans in Nashik
Will vary from bank to bank for example
Fixed Prepayment charges
Prepayment at any given time – 1% to 3% (or)
Varying prepayment Charges based on repayment cycle
Important documents to be submitted while applying for car loans in Noida
One can apply for a car loan in Noida through the following ways
3. Banks and NBFCs
4. Online website portals
There are many leading banks and NBFCs which offer car loans in Noida like HDFC, ICICI, SBI etc. The best lender is one where you can get the loan amount you want at an interest rate that is comfortable for you and who can disburse the funds as early as possible. It is always better to compare the car loans from different lenders and then look to apply for one that suits all requirements like interest rates, tenure etc.
To get a better understanding of your loan requirement and how much EMI you will pay, you can use the EMI calculator available on CreditMantri website and on the bank/NBFC website. By inputting the tenure, interest rate and loan amount you will get to know how much EMI you will pay. You can vary the inputs for various scenarios and know the EMI in each case. This will help you plan for the loan you want.
1. Where can I find a car loan interest calculator?
You can visit CreditMantri website or the lending bank website where you will find the option of EMI calculator. Input various interest rates to get the respective EMIs. The interest rate can be obtained by applying for the loan where you will submit basic information like salary, company and job experience details based on which interest rates will be displayed.
2. Where can I get the cheapest car loan interest rates in Noida?
The interest rate depends on your salary, the loan amount you require, credit score and the tenure you opt for. You can negotiate for good terms with a good credit score.
3. How to get instant e-approval on car loans?
You need to visit the website of lenders be it banks or NBFCs and apply on their website. After inputting the details asked the bank will immediately give you an update if your loan application is approved or not.
3. How to apply for a car loan through CreditMantri?
You can check your eligibility and apply for a car loan by signing up with CreditMantri. By creating their free credit profile on CreditMantri, the user would be matched to car loan lenders in Noida based on their credit profile. This eases the process of application as the user can at one place get to see the list of lenders to which they can apply and have a higher chance of car loan approval.
4. What are the banks that provide car loans in Noida?
The banks that provide car loans are
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