If you really think about it, it's easier getting a loan for a car than a loan for bus fare!
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    We found 3 Dena Bank Car Loan

    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    9.15% Floating
    575 One time fee
    1L - 2Crs
    1-7 Years
    Response Time Within 30 minutes
    Rs.2,500 Amazon voucher free
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know
    Eligibility Criteria
    11.15% Floating
    575 One time fee
    1L Min
    1-3 Years
    Response Time Within 30 minutes
    Rs.2,500 Amazon voucher free
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know
    Eligibility Criteria
    9.05% Floating
    575 One time fee
    1L - 2Crs
    1-7 Years
    Response Time Within 30 minutes
    Rs.2,500 Amazon voucher free SPECIAL OFFER FOR WOMEN
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know
    Eligibility Criteria

    Dena Bank Car Loan is Rated as "Great!" by 167 Users

    Fees & Charges

    Promised Interest Rate

    Customer Service

    Responsiveness

    Car Loan BYTES FROM OUR KITCHEN

    Dena Bank is one of the earliest banks in India, headquartered in Mumbai. Dena Bank was founded onn 26 May 1938, by the family of Devkaran Nanjee under the name Devkaran Nanjee Banking Company Ltd. It is one of the nationalised banks of India. Get on the right track with Dena Auto Loan and drive home your home machine. To know more, follow some simple steps given below to get best interest rates.


    You’re probably eligible for an Dena Bank Car Loan if you are

    01
    02
    03
    04
    Dena Bank Car Loan Minimum Age

    At least 18 years old

    Dena Bank Car Loan Maximum Age

    Less than 60 years old

    Dena Bank Car Loan Eligible Employment Type

    Salaried or self-employed
    with regular income

    Dena Bank Car Loan Minimum Income

    Earn more than the minimum
    income required


    Your Dena Bank Car Loan amount eligibility is based on these factors

    01
    02
    03
    Dena Bank Car Loan Minimum Salary

    Minimum income required
    Rs.6,00,000 per annum

    Dena Bank Car Loan Maximum Loan to Value

    Loan capped @
    85% of the ex-showroom price

    Dena Bank Car Loan EMI

    EMIs of other loans lower
    your eligibility


    Increase your eligible Dena Bank Car Loan amount by these steps

    01
    02
    Dena Bank Car Loan Payoff Outstanding Credit Card Bills

    Pay off your credit card bills

    Dena Bank Car Loan Maximum Tenure

    Choose longer tenure loan up to 7 years


    Documentation needed to apply for an Dena Bank Car Loan

    • 1. Signed application form with photograph
    • 2. Photo ID and age proof
    • 3. Photo ID and age proof
    • 4. Last 6 months bank statement
    • 5. Documentation for salaried applicants:
      • Last 3 months salary – slips
      • Form 16 or Income Tax Returns
    • 6. Documentation for self-employed applicants:

      • Last 3 years Income Tax Returns with computation of Income
      • Last 3 years CA Certified / Audited Balance Sheet and Profit & Loss Account

    Dena BankCar Loan Interest RatesUpdated on 29 Jun 2017

    Dena Bank Car Loan Details
    Interest Rate General Customers - 9.15%
    Women Offer - 9.05%
    Processing Fees Rs. 575
    Pre Closure Charges 0% on the principal outstanding (plus Service Tax)
    Loan Tenure 1 year to 7 years

    Overview About Dena Bank Car Loan

    A car is a valuable and important investment in an individual’s life. Making decisions related to the make and model of a car is very easy, but coming up with the required amount of funds is a key aspect to be considered for any car owner. Individuals might fund their cars from own sources, but some might look for more comprehensive financing options from banks and financing companies. When they are sourcing around for extra funds, institutions might offer a multitude of car loan deals, but choosing the best suited financing deal is a difficult decision. Customers should always choose a car loan deal based on the model of the car they would like to own.

    Apply for Car Loan Online

    As a leading public sector bank, Dena Bank’s auto financing scheme is one of the top-rated financing products easily available to car owners in India. Catering to every type of individual needs, Dena Bank offers a comprehensive auto financing solution with flexible loan tenures and quick approvals. Customers can enjoy personalised attention from bank officials, who will guide them through the entire loan sanctioning process. The Dena Auto Financing scheme is available for new four-wheelers, regardless of the make and model chosen by the customer.

    Why choose a Dena Bank Car Loan?

    Dena Bank offers auto loans with affordable interest rates and convenient terms and conditions. The bank also provides personalised services to customers with fast approvals and quick processing of a car loan. Dena Bank auto loans are designed to efficiently cater to the financial needs of private car owners in India.

    Features of a Dena Bank Car Loan

    • Loan Amount - Dena Bank sanctions car loans up to a maximum loan amount of Rs. 8 lakhs.
    • Loan Margin - The required loan margin for a Dena Bank auto loan is 20%.
    • Prepayment charges - Customers do not have to pay any prepayment penalty for early closure of Dena Bank car loans.
    • Security - The hypothecation of the purchased vehicle is required as security for the new vehicle.
    • Disbursement of the loan - Dena Bank disburses the sanctioned loan amount directly to the car dealership.
    • Processing Fees - Dena Bank charges a processing fees of Rs 500/-, regardless of the loan amount availed.
    • Repayment - Borrowers can choose loan tenures for up to 60 months for repaying their auto loans.

    Dena Bank Car Loan Interest Rates

    The bank is following RBI mandated MCLR (Marginal Cost Based Lending Rate) to fix the effective interest rate for car loans. The actual interest payable varies on the basis of the term chosen by the borrower. The table below provides further details.

    Dena Bank Marginal Cost Based Lending Rate (MCLR) for New Borrowers
    Benchmark MCLR rate 9.15%
    Floating rate of interest (new cars) 9.65% (MCLR + 0.50%)
    Floating rate of interest (used cars) 11.65% (MCLR + 2.50%)
    Floating rate of interest (women) 9.05% (MCLR + 0.40%)

    Note:The MCLR is subject to periodic revision as per bank’s credit policy and RBI’s quarterly reviews. Make sure to confirm with the bank on prevailing rates at the time of applying and choose the terms accordingly.

    Eligibility criteria for a Dena Bank Auto Loan

    • Individuals with a gross income of Rs 1.50 lakhs per annum or above can apply for a Dena Bank car loan.
    • Companies and partnership firms showing profits for the last two years are eligible to apply for an auto loan with Dena Bank. The previous year’s net profit reflected in the Audited Balance Sheet should be higher that Rs 3 lakhs.

    Documents Required

    1. Filled-in Loan application form

    Salaried employees need to submit self-attested copies of the following documents.

    1. 2 Passport size photographs of the Applicant, Guarantors and Co-applicant
    2. Age Proof - Passport / PAN Card / School Leaving Certificate / Driving License
    3. Proof of residence - Telephone bill / Passport / Driving License / Electricity bill / PAN card
    4. Bank account statement for the last 6 months with salary credits
    5. Payslips for the last three months
    6. Form 16
    7. Appointment or the increment letter from the employer
    8. Brief profile of the company where the applicant is employed.

    Self-employed businessmen have to furnish the self-attested copies of the following documents.

    1. 2 Passport size photographs of the Applicant, Guarantors and Co-applicant
    2. Age Proof - Passport / PAN Card / School Leaving Certificate / Driving License
    3. Proof of residence - Telephone bill / Passport / Driving License / Electricity bill / PAN card
    4. Income Tax returns with computation the sheet for the last 3 years.
    5. Audited financial statement / P&L statements / Balance Sheet for the last three years
    6. Brief profile of the company on the relevant letterhead.
    7. Office address proof should be provided in the name of applicant.
    8. Qualification certificate of the applicant.
    9. Current or Savings bank account statements for one year.

    Dena Bank Car Loan EMI calculators

    When you purchase a new car, the biggest hurdle that you encounter is to plan the required finances. Customers face roadblocks only where financing is concerned. Picking up a car model or make is quite easy but financing a car needs proper planning, with customers having a fair idea of how they would be repaying the car loan. Helping you in the decision making process are efficient tools named car loan EMI calculators which give you a detailed forecast of your car loan repayment schedule. Customers need to input only a few details like loan amount, loan tenure, processing fees and interest rates to understand how much a Dena Bank car loan would cost them. BankBazaar’s car loan EMI calculators are designed to intelligently calculate this data for you in a matter of seconds and with absolutely no charge at all. Borrowers can comfortably plan their car loan repayments and invest in a car of their choice without any hassles.

    Dena Bank Car Loan FAQs

    1. Does the Dena Auto Finance Scheme cover financing for two-wheelers as well?

      Yes, customers can also avail two-wheeler loans under the Dena Auto Finance Scheme.

    2. Can I check by Dena Bank car loan statement online?

      Yes, Dena bank provides a user-friendly internet banking facility, DenaiConnect, which enables customers to check their car loan account statements online.

    3. Can I apply for a Dena Bank car loan online?

      Yes, Dena Bank offers you the facility to apply for car loans using their online portal.

    4. Can I apply for a Dena Bank car loan along with a co-applicant?

      Yes, customers can apply for a Dena Bank car loan along with a co-applicant, who can be the spouse or family member.

    5. Do borrowers have to provide any form of additional security collateral while availing a Dena Bank car loan?

      No, Dena Bank does not require any extra form of security, other than the hypothecation of the purchased vehicle.

    6. Does Dena Bank offer the facility of checking the car loan application status online to borrowers?

      Yes, Dena Bank offers the facility of checking the status of the car loan application status on its web portal via internet banking.

    7. Is the Dena Bank car loan application form available on the bank’s website?

      Yes, the Dena Bank car loan application form can be easily downloaded from the bank’s website, filled in and submitted with other documents while applying for the loan.

    8. Can joint applications be made for a Dena Bank auto loan?

      Yes, joint applications can be made with the spouse and other family members for a Dena Bank car loan.

    9. Does Dena Bank levy any processing fees on car loan borrowers?

      Yes, a processing fee of Rs. 500 along with the service tax is levied on car loan borrowers. This amount is the same for all loan amounts.

    10. Should the applicant have a good CIBIL score to qualify for a Dena Bank car loan?

      Yes, to get a car loan approved from Dena Bank, it is important that applicants carry a good CIBIL score.

    11. What are the mandatory income documents that have to be given by auto loan borrowers to Dena Bank?

      As per the employment category, the following documents have to be furnished -

      • Salaried Employees - Last three months’ pay slips /Form 16 / Appointment letter and Increment letter / Company Profile / Salary account statement for the last six months.
      • Self-employed - Company Profile /IT Returns for the last three years/ P&L statements/ Audited balance sheet / Bank current and savings account statements for the last one year.
    12. How can applications be made for Dena Bank car loans?

      Customers have two options when they applying for a Dena Bank car loan - a) online or b) at any branch. Both options can be chosen while applying through the bank’s website. The details that have to be entered are ticket number, mobile number and the proposal ID (if the application has been done via the branch).

    13. What is the maximum loan limit approved by Dena Bank for car loans?

      The maximum loan amount sanctioned and disbursed for Dena Bank car loan borrowers is up to Rs. 200 lakhs.

    14. Is there any loan margin requirement for Dena Bank auto loans?

      Yes, a loan margin of 15% is required for new car loans. If the customer has a corporate arrangement with Dena Bank, then the loan margin is 10% of the on-road price of the car.

    15. Can the Dena Vehicle loan scheme be used to finance new two-wheelers?

      Yes, the Dena Vehicle loan scheme can be used to purchase new two-wheelers and four-wheelers.

    16. What types of applicants can qualify for a Dena Vehicle loan?

      Salaried individuals, proprietary firms, companies and partnership firms are eligible to avail a Dena Vehicle loan.

    17. What is the income eligibility requirement that has to be met by applicants while procuring a Dena Bank car loan?

      Individuals and proprietary firms have to furnish a minimum annual income of Rs. 2.5 lakhs and companies and partnership firms have to show a minimum annual income of Rs. 3 lakhs, while applying for a Dena auto loan.

    18. What the repayment tenure options available to Dena Bank car loan customers?

      Customers can repay back the Dena Bank auto loan in tenures chosen up to a maximum of 60 months in form of EMIs.

    19. Does Dena Bank offer a moratorium period for auto loans that are approved?

      No, Dena Bank does not offer a moratorium / holiday period for car loan borrowers.

    20. What is the rate of interest levied by Dena Bank for auto loans?

      The car loan interest rate offered by Dena Bank is a floating interest rate. The interest rate offered is 10.20% for loan amounts with tenures up to 5 years. Dena Bank gives a special concessional interest rate of 10.10% for women borrowers.

    21. How is the car loan interest rate calculated by Dena Bank?

      The interest rate for car loans is calculated on a daily reducing balance.

    22. Is security collateral required for Dena Bank car loans?

      The hypothecation of the new car which is purchased is the only security required for a Dena Bank car loan.

    23. Do Dena Bank borrowers have to submit any third party guarantee while getting car loans?

      Third party guarantee will be taken by Dena Bank as per the application, on a case-by-case basis.

    24. To whom is the car loan disbursed by Dena Bank?

      The new car loan is disbursed directly to the authorised car dealership.

    25. Does Dena Bank offer insurance cover to car loan customers?

      No, Dena Bank does not offer any type of insurance cover for car loan borrowers.

    26. What are the pre-closure charges levied by Dena Bank on car loan borrowers?

      Dena Bank car loan borrowers do not have to pay any charges to foreclose their car loans before the completion of the tenure.

    27. Can balance transfers be done from other bank car loan accounts to a new Dena Bank car loan account?

      Yes, balance transfers can be done by customers from other bank car loan accounts to a new Dena Bank car loan account.

    28. I would like to avail a top-up loan from Dena Bank, what should be my next course of action?

      Dena Bank car loan customers can contact a branch official for more information on top-up loans.

    29. What is the loan process followed by Dena Bank when a car loan application is received?

      Dena Bank verifies the customer’s application and documents received, checks the eligibility criteria, approves the loan amount, sanctions and the disburses the car loan.

    30. I would like to avail refinancing for my vehicle from Dena Bank, what should be my next course of action?

      Dena Bank car loan customers can contact a branch official for more information on vehicle refinancing.

    31. What are the other documents required to be given by applicants for a Dena Bank car loan?

      Salaried Employees need to furnish self-attested copies of the following documents -

      • Passport size photographs of the applicant/ co-borrower/ guarantor
      • Age Proof - PAN Card / Passport / Driving License / School Leaving Certificate
      • Residence Proof - Electricity Bill / Telephone Bill / PAN Card / Driving License / Passport

      Self-employed professionals need to furnish self-attested copies of the following documents -

      • Passport size photographs of the applicant/ co-borrower/ guarantor
      • Age Proof - PAN Card / Passport / Driving License / School Leaving Certificate
      • Residence Proof - Electricity Bill / Telephone Bill / PAN Card / Driving License / Passport
      • Applicant’s Qualification Certificate
      • Office Address Proof
    32. What is the time period taken by Dena Bank to approve a new car loan?

      The approval time varies according to the type of applicant and the documentation submitted to the bank.

    33. Based on what criteria does Dena Bank sanction car loans for customers?

      Dena Bank sanctions car loans based on the income, age, CIBIL score, eligibility criteria and the documents submitted.

    34. Using which number can Dena Bank car loan borrowers contact the customer care support?

      Dena Bank car loan customers can contact the customer care help desk at 022 - 26545361 or use the toll free number - 1800225740 for any queries.

    35. What are the types of cars and vehicles financed by the Dena Vehicle loan scheme?

      The Dena Vehicle loan scheme can be taken to finance any type of new car purchased by the borrower.

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  • Dena Bank Car Loan Reviews

    • Dena Bank Car Loan
      "Below average service"
      0.5 3.0/5 "Satisfactory"
      With the help of advertisement, I got to know that Dena bank was ready to fund 100% Car loan but while checking with the executive they confirmed that they have denied it. The rate of interest is nominal with DENA bank. The customer service and the response part need to be improved with Dena bank. I would say it was a below average service, that I got from DENA Bank.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 29, 2017
    • Dena Bank Car Loan
      "Need Improvement"
      0.5 2.0/5 "Expected more"
      Dena bank just gave a call in concern to my car loan application. They have just explained me about the product and they were not interested to do the sales and they haven't gave the follow up on my car loan application and the rate of interest is high when compared with others. The service and the communication need to be improved with Dena bank.
      Was this review helpful? 0
      , kolkata
      Reviewed on Jun 29, 2017
    • Dena Bank Car Loan
      "Good Response"
      0.5 5.0/5 "Blown Away!"
      Actually I had taken a car loan from Axis bank hence I did not continue with Dena bank for my car loan process. But I had received proper response from Dena bank and they contacted me on my loan application. But since I had availed it from other source I dropped it.
      Was this review helpful? 0
      , bhopal
      Reviewed on Jun 24, 2017
    • Dena Bank Car Loan
      "Better Service"
      0.5 4.0/5 "Great!"
      I approached Dena bank for the car loan. Actually Dena bank kept on calling me for my car application and they provided proper information about the loan process. But I was looking for the second hand car hence I could not take the car loan from them.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 24, 2017
    • Dena Bank Car Loan
      "DISSATISFIED"
      0.5 2.0/5 "Expected more"
      It was not a good experience with Dena bank for the car loan. I received a call initially and they were supposed to follow up with me. After which I got no calls from them and I was unable to continue with them. I do not wish to recommend this bank for the lack of response, even the customer service executives too were rude.
      Was this review helpful? 0
      , surat
      Reviewed on Jun 22, 2017
    • Dena Bank Car Loan
      "No Response"
      0.5 5.0/5 "Blown Away!"
      I had applied for the car loan with Dena bank. I had chosen this bank with the help of online source. But I had taken the personal loan from them not the car loan. Because I did not receive any calls from Dena bank for the car loan for which I had applied.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 22, 2017
    • Dena Bank Car Loan
      "Nice experience"
      0.5 5.0/5 "Blown Away!"
      Dena Bank has been good in the process for the car loan. The customer services and response has been good and I got the disbursement on time. The interest rate was around 11.15% and there was a minimal fee of Rs.500. The after loan services are smooth.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jun 22, 2017
    • Dena Bank Car Loan
      "Good"
      0.5 5.0/5 "Blown Away!"
      I have got the car loan with some other bankers and that's why I have not dealt with the Dena bank. Rate of interest and the processing charges were not at all the constraint, also they have not contacted me on immediate basis. I would like to suggest that they could contact the customer on an immediate basis.
      Was this review helpful? 0
      , surat
      Reviewed on Jun 21, 2017
    • Dena Bank Car Loan
      "Good Service"
      0.5 4.0/5 "Great!"
      Dena bank service and follow up is really good, they called me and spoke about the loan process. I got the car loan but Dena bank helped me out and this was my very first car loan and I was very much satisfied and this happened long time back during the year 2002. At that time the rate of interest was 13% and it was for a period of three years.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jun 20, 2017
    • Dena Bank Car Loan
      "Good Service"
      0.5 4.0/5 "Great!"
      My plans got canceled to buy a vehicle. So I did not go ahead for the car loan at Dena Bank. The customer services are good as they contacted me on time and informed me the details. I thought of talking loan of three lakhs. May be in future will think about it.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 19, 2017
    • Dena Bank Car Loan
      "Easily approachable for everyone"
      0.5 5.0/5 "Blown Away!"
      Only because of the interest rate, which is a lesser one, I had got the car loan with the Dena bank like it was around 9.15%. The loan amount got disbursed to my account within four days of time. Response was good one with them and the processing charges were around 2500 Rupees, which inclusive to open the savings account and deposit too.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 12, 2017
    • Dena Bank Car Loan
      "Satisfactory"
      0.5 3.0/5 "Satisfactory"
      The Dena bank gave a call and explained me about the product . I have informed them that I have postponed my plan, so that was the reason I didn't get the car loan from Dena bank. The rate of interest 19% with Dena bank. Finally I would say it was a good service offered by Dena bank
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jun 12, 2017
    • Dena Bank Car Loan
      "Excellent services"
      0.5 5.0/5 "Blown Away!"
      My plans got cancelled to buy a vehicle. So I did not go ahead for the car loan at Dena Bank. The customer services are good as they contacted me on time and informed me the details. The interest rate and processing charges was also normal for me.
      Was this review helpful? 0
      , new delhi
      Reviewed on Jun 12, 2017
    • Dena Bank Car Loan
      "Better Service"
      0.5 3.0/5 "Satisfactory"
      Even though I have salary account with ICICI bank for more than 15 years, I preferred Dena bank for the car loan because as I am working in public sector I wanted to take the loan from public sector bank. When I approached Dena bank, I received very good response. They send the manager to my place and they had taken effective steps to process the loan. Interest rate was little high with them but I do not have any issues with high interest rate but then when they checked my credit score, they combined other people report along my my report and they told me that my credit score is not good for the loan. I clearly informed them that I do not have any outstanding payments or credit cards but they had done a mistake while checking the credit score. Then I checked with ICICI bank where they processed my loan within a day, even they worked on Sunday and completed the loan process. Interest rate is very low which is 8.5% but online quote was 9.75% but they reduced the interest rate too.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 10, 2017
    • Dena Bank Car Loan
      "Good Service"
      0.5 4.0/5 "Great!"
      I had received very good response from Dena bank when I approached them for the car loan. They visited my place and collected the documents to proceed with the process. But due to some constrains, I could not proceed with the process, hence I postponed it.
      Was this review helpful? 0
      , new delhi
      Reviewed on Jun 10, 2017
    • Dena Bank Car Loan
      "Average"
      0.5 3.0/5 "Satisfactory"
      After me submitting my details to Dena bank for the car loan. There was a lot of delay in the whole process from the time the document were collected and even after the documents was collected. So I had to postpone my plans for the next two to three months. I did not discuss much on the interest rate and charges.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jun 09, 2017
    • Dena Bank Car Loan
      "Need to be flexible in timings"
      0.5 2.5/5 "Just OK"
      Dena bank were very particular in their timings and I could not make it to the bank as my work hours were clashing with theirs. So I cancelled my car loan application with the bank. They had a good deal on the interest rate and processing charges as it was very minimal.
      Was this review helpful? 0
      , gandhidham
      Reviewed on Jun 09, 2017
    • Dena Bank Car Loan
      "Nice experience"
      0.5 5.0/5 "Blown Away!"
      The reason I postponed my plan in buying a vehicle is because I had to dispose the car I already own and get the funds to make a down payment for my new vehicle. Since there was a delay in selling my vehicle, I cancelled my car loan with Dena bank. The rate of interest was slightly high when compared to the other banks in the market.
      Was this review helpful? 0
      , new delhi
      Reviewed on Jun 09, 2017
    • Dena Bank Car Loan
      "Interest has to be reduced as per market"
      0.5 4.0/5 "Great!"
      I got better offer from other bank, I found Dena bank interest rate is not upto the mark. Dena bank offered me the interest around 9.0% on car loan but other bank offered me 8.75%. Service of Dena bank is good, my only concern is about the interest rate. They should match with the market rate.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jun 09, 2017
    • Dena Bank Car Loan
      "Excellent "
      0.5 4.0/5 "Great!"
      I had postponed the plan of getting the car loan from the Dena bank. Rate of interest is not at all the constraint for me and their response is also good . I guess, the rate of interest what they have proposed was very lesser one when compared with others.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 09, 2017
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