Corporation Bank Car loan Interest Rates 2019 | Documents |Eligibility

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Eligibility – for Corp bank Car Loan

Individuals [Professionals/Businessmen/ Salaried class and others] NRIs, Sole Proprietorships, Partnership Firms, HUFs, Companies, Trusts/ Institutions are eligible.

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Professional Details
Loan Amount

Occupation

Annual Income

City

Interest Rates 8.90% – 9.40%
Processing Fees 0.50% onwards of loan amount
Pre-payment Charges Nil
Lowest EMI Rs.1603 / Lakh
Min. Income Rs.12000 per month
Loan Repayment 7 years
Security Hypothecation of the vehicle financed.
Loan Margin Upto 85% Finance
Loan Amount Maximum upto 5 Crore finance
Two wheeler loan interest rates 12.35%

Main applicant shall have income.
Income of the spouse/close relative/s can be included if they join as Co-applicants to supplement repayment capacity.
In case of Company/Firm/Trust, Directors/Partners/Trustees having regular/ independent income can join as co- applicant/s to supplement repayment capacity.

In case of salaried class, applicant/co applicant must be confirmed in the service.

For 2 & 3 wheelers :Applicants to have a minimum NET annual income of Rs.0.50 lakhs.

For Four wheelers :Applicants to have a minimum NET annual income of Rs. 1.20 lakh.

Cash accruals/Depreciation also added to income, in case of borrowers other than salaried class.