| 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. |
Published On : 2020-09-23
Key Highlights
Key Highlights
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.
| Name of the Bank | Interest Rate (p.a.) |
|---|---|
| State Bank of India | 7.70% and 10.50% |
| HDFC Bank | 8.80% onwards (Rack Interest) |
| Axis Bank | 8.75% p.a. onwards |
| ICICI Bank | 7.90% p.a. onwards |
| Canara Bank | 7.30% p.a. onwards |
| Federal Bank of India | 8.50% p.a. onwards |
| Union Bank of India | 7.40% p.a. onwards |
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.
| Age |
|
| Type of Employment | Salaried or self-employed |
| Minimum Income Requirement |
|
For salaried
For self-employed
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.
No, family pensioners cannot apply for a car loan from Jammu and Kashmir 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.
The minimum age of eligibility to apply for a car loan from Jammu and Kashmir is 18 years.
You must have a minimum work experience of 3 years to be eligible to apply for a car loan from Jammu and Kashmir.
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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