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A bank loan is a monetary loan received from a commercial lender. The loan may have a specific purpose, such as a car loan or a home loan.  It will have a predetermined duration and the loan will have an interest rate that is either fixed or adjustable.

education loan.INDIAN LOAN MARKET Indian loan market is estimated to generate Rs 9. auto loan.3 billion in 2011 and is expected to reach Rs 21.980. personal loan.  . consumer durable loan and gold loans.324.6 billion by 2016 with a CAGR of 18.7% from 2011-2016.  The loans which constitutes and plays a crucial role in Indian loan market includes home loans.

LOAN AGAINEST SECURITES Loan against Gold  Loan against your Insurance Policies (LIC/SBI)  Loan against Fixed deposits  Loan against Property  Loan against Other investments  .

A  .LOAN FOR BUYING PROPERTIES Vehicle loan  Loan for buying assets  R.



CAR LOAN Owning a vehicle today has become a matter of convenience than pride as it offers the flexibility to travel.  .  With the easy availability of car financing. where the car being purchased is pledged as collateral security. Car loan is a secured loan. more and more families are opting to purchase the car by taking a loan.

 Besides public and private banks. the automobile segment has emerged the second largest debt segment of India that has fulfilled the dreams of millions of Indians who want to buy their own personal and family car. automobile manufactures and some small lenders have also begun to offer automobile loans. some financial institutes. Viewing the large market in this sector.AUTO LOAN Since then.  . several automobile financial institutes have emerged aggressively within last one decade.

and the tenure is long but not more than seven years. The automobile loan market is divided into two segments – personal car loan and commercial vehicle loan. The interest rate for this sector is also low like home loan rates. The interest rate varies for both segments. Similar in auto loan segment the lender recovers the delivered vehicle if the borrower is unable to repay the debt.  . The terms & conditions of distributing loans in both segments are different. The auto loan is considered as secured loan like home loans in which the lenders keep all the documents pertaining to homes in the form of security.

 .WHAT IS CAR/BIKE LOANS? Car or Bike Loans are designed for those who wish to finance a vehicle for personal use.  A car loan can give you immediate use of the car of your choice in exchange for regular payments over an agreed period of time. It is the way you can borrow money from future.

 . (Not all banks fund you for accessories)  Initial down payment for the car. model and colour. (Only a few banks cover the insurance)  The kind of car accessories you wish to purchase for your car which would ultimately increase the cost of the car. which is paid upfront by the buyer remainder of which will be the car loan amount.  The amount and type of insurance cover you wish to obtain for which is included in the costing of the car.WHAT ARE THE FACTORS WHICH NEED TO BE CONSIDERED BEFORE OPTING FOR A CAR/AUTO LOAN? The cost of the car based on make.

Percentage of financing available for the car depending on the make. Some banks offer up to 90% financing for new cars.  In case of purchase of second hand cars the amount of financing is largely dependent on the cars resale value and differs across banks/lending institutions. model of the car and the borrowers repayment capacity. This aspect varies according to the lender/banks discretion.  .

WHO CAN AVAIL A CAR/AUTO LOAN? Salaried individuals in the age group of 21-60 yrs  Self-employed people in the age group of 21-65 yrs  Partnership firms  Public & Private Ltd. Companies  HUFs & Trusts  .

BANK OFFERING VEHICALE LOAN HDFC Bank  State Bank of India (SBI)  Bank Of Baroda  Canara Bank  Corporation Bank  Kotak Mahindra  Axis Bank  ICICI Bank  Bank Of India  Federal Bank  .

INTEREST RATE  Interest rate starts from 10.75% to 17% depending on the bank. . schemes and period of installments.

Returns/Form 16: 2 years for salaried employees and 3 years for professional/self-employed/businessmen duly accepted by the ITO wherever applicable to be submitted. Signature identification from bankers of borrower(s).T. 2 passport size photographs of borrower(s). Proof of official address for non-salaried individuals. Proof of residence. A copy of passport /voters ID card/PAN card.DOCUMENTS REQUIRED         Statement of Bank account of the borrower for last 12 months. . Latest salary-slip showing all deductions I.

You Can Visit Bank Branch/NBFC for Car Loans  Benefit . Bank Direct Rates are generally fixed.No Comparison.CAR LOAN FINANCE IN INDIA. Documentation Submission could be tedious . Feeling of Trust. WAYS TO GET CAR LOAN FINANCING IN INDIA . Clarity  Drawback .Direct Interaction with Bank Branch Official.

Also .CONT……… You can Ask Local Car Dealer to put in Car Loan Application  Benefit .they are experts in selling Car but not Car Loans .Dealer may divert your application to Bank wherein they getting higher payouts/incentives.Comparison of Multiple Finance option at Dealer  Drawback .

Unbiased Advise.You can call up Bank Direct Sales Associates for Car Loans Benefit . Comparison of Multiple Financier Interest Rates. Understand Requirement.Experts in Car Loans.CONT………   .Has to check credibility. They deal normally with one Financiers   . Fast n Best Medium to Apply Car Loan Finance.Experts. . Have Refined and Best Tie ups with Leaders of Car Loan for Best Interest Rate Drawback . Personalized Service Drawback .You Can Apply Online for Car Loan Finance Benefit . Semi Metros as there tie ups are limited to these locations and not present in each in every location.Generally these websites deals in Metros.