Chennai is the Most popular hub for motorsports in India. People of chennai like to own sports car, Luxury cars. To meet all the needs people lend money from banks so Car loan market in chennai is big. almost 72% peoples prefer finance for cars in chennai. If you live in chennai and looking for car loans so you can check which are the banks who offers best rates and offers on car loans.
|Banks/Rates||HDFC Bank||Kotak||Axis Bank||State Bank of India (SBI)|
|New Car Loan
||9.45% - 12.50%||11.50% - 13.50%||9.40% - 12.00%||9.45%( for WOMEN) 9.50%( for Others)|
|Processing Fee||Up to 2.5 Lakhs: Rs. 3220/-, (Above 2.5 Lac, Rs.4390/- to Rs.5870/-)||Rs.3300/- to Rs.4750/-||Rs.3500/- to Rs.5500/-||Nil|
How Much Salary or Income Required Getting Car loans in Chennai
Documents you will need to submit for Apply Car loan in Chennai:
· Proof of Identity: Passport copy, PAN Card, Voters Id card, driving licence( Laminated, Recent, Legible)
· Income Proof: Latest salary slip with form 16 / Audited balance sheet, Profit & Loss Account for latest two years/ Have a minimum turnover of Rs. 4,50,000 per annum / Audited balance sheet, Profit & Loss Account for latest two years and the latest 2 years IT returns of the company / Latest ITR
· Address Proof: Ration card/Driving licence/Voters card/passport copy/telephone bill/ electricity bill/Life insurance policy PAN Card.
· Bank Statement: Last 6 months