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indusind bank car loan interest rate


Loan Faqs
Faq

Do I need a guarantor? :

Generally no. But if your income does not meet the bank credit criteria, then you may be required to have a guarantor to stand surety for your loan.
Faq

What are the stages involved in availing a loan? :

The stages involved are: • Application• Processing• Documentation• Sanctioning of the loan• Disbursement
Faq

What is a fixed rate home loan? :

In a fixed rate home loan the interest rate on home loans charged by the bank is constant over the tenure of the loan. You should go for a fixed rate only if you feel that the rate of interest prevailing in the market have touched rock bottom and the rates can only move upwards
Faq

What is the rate of interest that will be charged on my loan? :

The interest rate varies from bank to bank. And usually it varies from 14%-26% depending upon your profile, kind of job and place of work, residence and city you live in. The most important factor is your repayment capacity.
Faq

What is a fixed rate loan against property? :

In a fixed rate loan against property the interest rate on loan against property charged by the bank is constant over the tenure of the loan. You should go for a fixed rate only if you feel that the rate of interest prevailing in the market have touched rock bottom and the rates can only move...
Faq

What is the interest benefit that I get on the Educational Loan? :

Banks offer lower interest rates if you start repayment during the moratorium period. If you have opted for a floating rate loan, you cannot switch to a fixed rate option mid-course. However, you can transfer your loan from one bank to another, if you find a more attractive offer. Normally, one...
Faq

What is a floating rate loan? :

In a floating rate loan the interest rate charged by the lender keeps changing with respect to the rates in the market over the tenure of the loan. Normally the rate charged is on the basis of their cost of funds and the prevailing market rates. These rates change periodically. Accordingly the...
Faq

What is a Monthly Reducing Balance? :

In the case of monthly reducing balance method, the principal gets reduced at the end of every month and the interest is calculated on the outstanding principal at the end of the month.
Faq

What is an Annual Reducing Balance? :

In the case of annual reducing balance method, the principal gets reduced at the end of the year and the interest is calculated on the outstanding principal at the end of the year.
Faq

How much finance can I avail of? :

You can borrow up to 90% of the invoice value. However, the minimum loan amount is Rs.50000.
Faq

What are the tenure options? :

The choice is yours. You can choose any repayment option from 12 to 84 months all specially designed to suit your requirements. The tenure will change from bank to ban and will also differ for New can and used cars.



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