Скачать или смотреть Federal Bank Car Loan Review | Federal Bank Used Car Loan | Federal Bank Car Loan Apply Kaise Kare

Federal Bank Car Loan Review | Federal Bank Used Car Loan | Federal Bank Car Loan Apply Kaise Kare

Federal Bank Car Loan Apply https://www.federalbank.co.in/persona...

Headquartered in Kerala, Federal Bank is one of the major Indian commercial banks in the private sector. It has a widespread network of more than a 1000 branches and ATMs, across the nation.

The bank came into existence during pre-independent India. Founded by K.P Hormis, initially it was known as Travancore Federal Bank. In the year 1947 it was officially named as Federal Bank Limited. Currently, it is one of the most stable and known banks of the country.

Having won several awards and accolades, Federal Bank offers multiple services to its Indian and NRI customers. It also offers Gold Loans, Property Loans, House Loans and Car Loans for the purchase of both new and used/pre-owned cars. With features like faster processing, competitive rates of interest , lower EMIs, immense credibility and transparency, Federal Bank Used Car Loans make it very easy for you to purchase your dream car.

Features and Benefits of Federal Bank Used Car Loan -

Provides repayment period of up to 84 months.
Up to 100% of the ex-showroom price is funded on availing this loan.
A person can avail free personal accident insurance worth Rs.10 lakh.
Competitive interest rates.
No pre-closure charges for a person availing this loan.
Process is extremely fast in nature.
No-income document scheme.
This loan can be availed for buying a new car, used car, and two-wheelersReimbursement within 30 days of the date of purchasing the car.

Conditions for availing loan for used/pre-owned vehicles

The vehicle should not be more than 3 years old.
Even a part of the year shall be counted as one whole year.
Depreciation value of the vehicle will be calculated using the Straight Line Method @15% for the first year and @ 10% for the subsequent years.
Only 75% on lower of market value, or purchasing value, or depreciation value is available in case the person is buying a used vehicle.

Documents required to apply for Federal Bank Used Car Loans
Your proof of identity and address.Two passport size photos each of the applicant and the co-obligant.Proof of your age.Additional documents such as passport, visa, etc., if you are a NRI.

In addition to the aforementioned documents, a salaried individual will also need the following -

Form 16 for the last 2 years.
Last 3 months salary-slip.
Bank statement of last 6 months

What is the Eligibility Criteria for a Car Loan?

Car loans are granted to:

Individuals, Sole Proprietorships, Partnership firms, Companies, Trusts, Educational Institutions and any other lawful organizations with adequate / regular income to repay the loan.

What is the tenure of a car loan?

New Vehicles : Maximum 84 months for Resident customers and maximum 60 months for NRI customers 

Used Vehicles : Maximum 84 months for Resident customers and maximum 60 months for NRI customers with the condition that the total of loan period and age of the vehnicle shall not exceed 10 years

Can I prepay my car loan?

Yes, you can make your prepayment in either part or full.

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