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The fastest-growing private sector bank in India, RBL Bank offers specialized services to its customers. If you are planning to buy a new car, then RBL Bank is the perfect solution to avail a car loan. The interest rate is affordable, even a common man can use it to fulfil the dream of owning a vehicle of their own. RBL Bank car loan is the perfect solution if you do not want to invest your personal savings in buying a new car.
RBL Bank Car Loan is offered to customers who want to buy a new or used car. The bank can cover up to a certain percentage of the price of the car as the loan amount. The bank offers ample time as repayment period as it gives the customer time to repay the amount through monthly EMIs.
The features of RBL Bank Car Loan are as below
Loan Coverage: If the customer opts for RBL Bank Car Loan, the bank can provide a loan of up to 90 % of the price of the new car. This will include Ex-showroom Price along with all applicable taxes and Insurance. The loan amount can range from Rs. 50,000 to Rs. 30 lakhs for salaried individuals and for self-employed persons and professionals, the loan amount can go up to Rs 1 crore.
Repayment Period: RBL Bank Car Loan offers the repayment period of 12 to 60 months for any new vehicle loan.
Loan Range: RBL Bank Car Loan can offer a loan for cars ranging from small, medium and up to super-premium cars, MUVs and SUVs.
Minimum Documentation: RBL Bank Car Loan procedure need minimum documentation for the loan proposal.
The customer will have to submit the below documentation to apply for a car loan.
If you want to apply for a car loan, you can apply it online via the official website of RBL Bank. After filling up the online application form, you need to upload the documents required. Once you upload the documents, the bank will scrutinize the documents and will revert to you if they need more documents. If the bank is satisfied with the documents, then they will proceed with the sanctioning of the car loan.
If you do not want to apply for a car loan online, you can also visit one of the nearby RBL Bank branches. If you are an existing client, it will be easy for the bank to do the verification as your details are already in the bank’s database. If you are a new customer then the bank might take a day or two for the verification of the documents.
1. What are the car documents required for the car loan under RBL Bank Car Loan?
The bank will require the below documents:
2. What is the minimum repayment period for RBL Bank Car Loan?
The minimum repayment period for RBL Bank Car Loan is 12 months.
3. What types of payments do the loan amount cover under RBL Bank Car Loan?
The loan amount provided by the bank will cover the ex-showroom price, insurance, and other applicable taxes.
4. What is the maximum loan amount provided by the bank?
For salaried individuals, the maximum loan amount is Rs. 30 lakhs and for others, the maximum amount is Rs. 1 crore.
5. What is the repayment mode allowed for RBL Bank Car Loan?
The repayment mode allowed for RBL Bank Car Loan is through monthly EMI.
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