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
    11.50% 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 291 Users

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    Car Loan BYTES FROM OUR KITCHEN

    Dena Bank Car Loan

    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 26 Sep 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 GST)
    Loan Tenure 1 year to 7 years

    The above mentioned interest rates are subject to change as per the revised GST rates.


    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.

    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.

    Apply for Car Loan Online

    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 GST 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
      "GOOD SERVICE"
      0.5 4.0/5 "Great!"
      My experience was good one with the Dena bank for the car loan , I would like to say that everything were done in the positive way with them , but unfortunately I had some payment default issues because i have met with an accident earlier so i was hospitalized but bank refused to give me the loan but Iam ok with the bank
      Was this review helpful? 0
      , new delhi
      Reviewed on Sep 23, 2017
    • Dena Bank Car Loan
      "Very good one"
      0.5 4.0/5 "Great!"
      I had postponed-ed the plan of taking car loan. Also I have plans of taking it after October. otherwise the service and the response provided by DENA Bank was very good .Interest rate and processing fee charged by DENA Bank was fine . I am very much happy with the prepayment and foreclosure
      Was this review helpful? 0
      , hyderabad
      Reviewed on Sep 22, 2017
    • Dena Bank Car Loan
      "It was a good"
      0.5 4.0/5 "Great!"
      There was no particular reason for going away from DENA Bank car loan services.I got a better proposal from HDFC Bank and therefore I switched over. Dena bank provided complete services. My car model is FORD ECOSPORT 1.5 TI VCT MT
      Was this review helpful? 0
      , pune
      Reviewed on Sep 22, 2017
    • Dena Bank Car Loan
      "its good"
      0.5 5.0/5 "Blown Away!"
      All went well with DENA Bank when it comes to car loan. I am very much happy with the way they treated me, they called me a couple of times they provided all the information about the rates. I have planned to take the loan after 2months . The car model which i had chosen was HYUNDAI ELITE I20 ERA PETRO and I am very much happy with them.
      Was this review helpful? 0
      , pune
      Reviewed on Sep 22, 2017
    • Dena Bank Car Loan
      "Service is good"
      0.5 3.0/5 "Satisfactory"
      I got a call from DENA bank they wanted some documents like ID card, they confirmed my credit score as 580 which is slightly low, that is why my loan was not processed. DENA bank customer service was very good and response too was good. Processing fee is very minimal.
      Was this review helpful? 0
      , bangalore
      Reviewed on Sep 22, 2017
    • Dena Bank Car Loan
      "GOOD SERVICE"
      0.5 4.0/5 "Great!"
      For my car loan requirement, DENA bank supported well and they provided a very good service for the loan. I do not have any complaint with the bank at any point of time, everything went good with them. Moreover, customer service is excellent actually I needed a car in my home town but I was staying in a different city so this was the reason
      Was this review helpful? 0
      , new delhi
      Reviewed on Sep 21, 2017
    • Dena Bank Car Loan
      "Very good car loan"
      0.5 4.0/5 "Great!"
      My car loan application is rejected because I applied for the loan when I was in Bangalore but, I wanted to take the loan in Kolkatta, as my parents are there in Kolkatta I wanted to take loan there but it was not successful. On the other hand, I am very much happy with the response and service provided by DENA Bank for the car loan.
      Was this review helpful? 0
      , kolkata
      Reviewed on Sep 21, 2017
    • Dena Bank Car Loan
      "Very good"
      0.5 4.0/5 "Great!"
      My feedback for DENA Bank was, they are pretty good in providing response, however they were unable to finance commercial car loan. They have confirmed the rate of interest and processing fee to me and it was mere telephonic conversation that I had with DENA Bank.
      Was this review helpful? 0
      , pune
      Reviewed on Sep 21, 2017
    • Dena Bank Car Loan
      "EXCELLENT"
      0.5 5.0/5 "Blown Away!"
      I did not take the car loan with Dena Bank as I have postponded from my end The terms and conditions was all suitable. Else the customer services are good. They were quick in providing response and the bank also had a nice deal on the interest rate and charges. I had idea of taking the car loan is 8 lakhs.
      Was this review helpful? 0
      , new delhi
      Reviewed on Sep 21, 2017
    • Dena Bank Car Loan
      "EXCELLENT SERVICE"
      0.5 5.0/5 "Blown Away!"
      It was an excellent service from DENA bank ,even the representatives and customer were very helpful and responsible during my loan process . Interest rate was also fine compared to the market value ,everything was fine never had any queries in their service but I have some personal reason for cancelling my loan process .
      Was this review helpful? 0
      , lucknow
      Reviewed on Sep 20, 2017
    • Dena Bank Car Loan
      "EXCELLENT SERVICE"
      0.5 4.5/5 "Excellent!"
      It was a very good service from DENA bank ,I got only one call from them ,but the representatives where very helpful and responsible in providing required details for my loan process. Even I got regular followups from their representatives ,so overall I can say it was an excellent service from DENA bank .
      Was this review helpful? 0
      , hyderabad
      Reviewed on Sep 20, 2017
    • Dena Bank Car Loan
      "Good one"
      0.5 5.0/5 "Blown Away!"
      All well with DENA bank, I had postponed the plan of taking the car loan the processing fee and interest rate charged by DENA Bank was okay. Prepayment options was was not discussed with me also they did not collect the documents therefore the loan process was not taken to the next stage.
      Was this review helpful? 0
      , secunderabad
      Reviewed on Sep 20, 2017
    • Dena Bank Car Loan
      "SATISFACTORY"
      0.5 3.0/5 "Satisfactory"
      Service of the DENA BANK was really good, also proper feedback was not given for me regularly And i feel their representatives were genuine and responsible while providing information ,So from the service part was an excellent from DENA BANK. But the reason why I canceled my car loan with DENA BANK was, they where not ready to offer DE-permit car so I have cancelled it.
      Was this review helpful? 0
      , thane
      Reviewed on Sep 20, 2017
    • Dena Bank Car Loan
      "Good one"
      0.5 4.0/5 "Great!"
      I had postponed the plan of taking the car loan from DENA Bank. The bank manager called me multiple time also he was very much helpful. Yes, they did provide the information about the interest rate and other charges too.
      Was this review helpful? 0
      , chennai
      Reviewed on Sep 20, 2017
    • Dena Bank Car Loan
      "EXCELLENT"
      0.5 5.0/5 "Blown Away!"
      I don't find any issue with the service of DENA BANK when i applied for my car loan ,everything was comfortable for me ,I had some personal reasons so it was the reason for my cancellation ,Totally i was comfortable with their service ,Representatives were also responsible and proper on time when i needed the service
      Was this review helpful? 0
      , chennai
      Reviewed on Sep 20, 2017
    • Dena Bank Car Loan
      "GOOD SERVICE"
      0.5 4.0/5 "Great!"
      It was an good service from DENA bank ,interest rate was also good . Representatives of DENA bank was very good they where very helpful for me during my loan process,they followed me regularly during the process . So overall it was an good service from DENA bank.
      Was this review helpful? 0
      , bangalore
      Reviewed on Sep 19, 2017
    • Dena Bank Car Loan
      "Quick process"
      0.5 4.0/5 "Great!"
      Overall it was a good experience with Dena Bank and the best is that I got the car loan a day or two earlier than the promised date. The processing charges is very low, but the rate of interest was not the best. It was around 9.3%. It could have been around 9% or 9.1%.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Sep 19, 2017
    • Dena Bank Car Loan
      "Good for banking need to be competitive "
      0.5 4.0/5 "Great!"
      Dena banks Rate of interest is very high they need to reduce it and be much transparent because of this failure they are loosing their valuable customers as private banks they should have minimum rate of interest .The customer service responded well with good guidance.
      Was this review helpful? 0
      , chennai
      Reviewed on Sep 18, 2017
    • Dena Bank Car Loan
      "EXCELLENT SERVICE"
      0.5 5.0/5 "Blown Away!"
      I got amount to buy a car so I was not needed of loan ,representatives of DENA bank was also very helpful and the rate of interest which they said was about 9.75 I was also comfortable with that ,so I can say overall service was excellent from DENA bank.
      Was this review helpful? 0
      , chennai
      Reviewed on Sep 18, 2017
    • Dena Bank Car Loan
      "Good car loan"
      0.5 4.0/5 "Great!"
      I have postponed the plan of taking the car loan from Dena bank. On the other hand, I am very much happy with the service and the response which was provided by them. Interest rate offered by Dena bank was affordable and I did not get a chance to talk about the processing fee. Prepayment and other options were good too.
      Was this review helpful? 0
      , pune
      Reviewed on Sep 18, 2017
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