J&K Bank Car Loan
Get car loans for both old and new cards at attractive rates starting from RLLR + 0.25% p.a. with Jammu and Kashmir Bank. You can take a loan of up to 90% of the on-road price for a tenure ranging from 1 year to 7 years. The processing fee charged is up to 2.5% of the loan amount.
Jammu and Kashmir Bank Car Loan Interest Rate
Interest Rate |
|
Processing Fee | Up to 0.50% of the loan amount + GST. However, the minimum and maximum fee that can be levied are Rs.1,500 and Rs.15,000, respectively. |
Car Loan Schemes Provided by Jammu and Kashmir Bank
Car Loan for New Cars
Key Highlights
- Flexible tenures of up to 7 years
- Financing of up to 90% of the total cost of the vehicle
- Attractive rates starting from RLLR + 0.75% p.a.
Car Loan for Used Cars
Key Highlights
- Flexible tenures starting from 12 months onwards
- No upfront fee charged
- Discount in interest rate for women applicants
- No prepayment penalty
How to Calculate EMI on Jammu and Kashmir Bank Car Loan
It's always recommended to calculate your EMI (Equated Monthly Instalment) beforehand so that you can manage your finances in a better way.
Your car loan EMI (Equated Monthly Instalment) depends on multiple factors, including the loan amount, interest rate, loan tenure, and processing fee. To calculate your monthly instalment amount, you can use BankBazaar Union Bank of India Car Loan EMI Calculator.
The entire computation process is simple and hassle-free with a quick turnaround time.
Top Banks' Car Loan Interest Rate Comparison with the Lowest EMI
Name of the Bank | Interest Rate (p.a.) |
State Bank of India | 8.95% onwards |
HDFC Bank | 8.95% onwards (Rack Interest) |
Axis Bank | 9.20% p.a. onwards |
ICICI Bank | 9.10% p.a. onwards |
Canara Bank | 8.75% p.a. onwards |
Federal Bank of India | 8.85% p.a. onwards |
Union Bank of India | 8.70% p.a. onwards |
How to Apply for Jammu and Kashmir Bank Car Loan
Step 1: Visit the official website of Jammu and Kashmir Bank.
Step 2: Under the "Personal" section, click on "Car Loan Scheme".
Step 3: Click on "Apply Online" located on the middle right-hand corner of the page.
Step 4: You will be redirected to another page where you have to fill in the required fields and click on the "submit" button to complete your application.
Jammu and Kashmir Bank Car Loan Eligibility Criteria
Age |
|
Type of Employment | Salaried or self-employed |
Minimum Income Requirement |
|
Documents Required
For salaried
- Identity proof
- Address proof
- Last 6 months' salary slips
- Form 16
- Last 1 year's Income Tax Return
For self-employed
- Identity proof
- Address proof
- Last 3 years' Income Tax Returns
- Profit and loss account statements along with balance sheet
Get car loans at attractive rates and flexible tenures with Jammu and Kashmir Bank. Read the fine print thoroughly before applying to avoid any confusion in the future.
FAQs on J&K Bank Car Loan
- I am a family pensioner. Can I apply for a car loan from J&K Bank?
No, family pensioners cannot apply for a car loan from Jammu and Kashmir Bank.
- What is the minimum and maximum processing fee charged by the bank?
The bank will charge 0.50% of the loan amount as processing fee subject to a minimum of Rs.1,500 and maximum of Rs.15,000.
- What is the minimum eligible age to apply for a car loan from Jammu and Kashmir Bank?
The minimum age of eligibility to apply for a car loan from Jammu and Kashmir is 18 years.
- What should be the minimum work experience to apply for a car loan from Jammu and Kashmir Bank?
You must have a minimum work experience of 3 years to be eligible to apply for a car loan from Jammu and Kashmir.
- Can I apply for a car loan from Jammu and Kashmir for commercial use?
You cannot apply for a car loan from Jammu and Kashmir for commercial use. You can only avail a loan if you wish to buy a car for private use.
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