Own your dream car today with affordable auto financing solutions offered by Karur Vysya Bank with a load of benefits. The Flexi Mobile Loan from KVB can be availed by customers to finance new cars bought for personal and business use. Karur Vysya Bank offers doorstep service to customers who opt for a Flexi Mobile loan. The bank sanctions higher loan amounts, depending on the financial situation of the applicant, on a case-by-case basis. Customers can select loan tenures for up to 84 months with flexible repayment options. After approval, Karur Vysya Bank will disburse the sanctioned loan amount directly to the car dealer in the form of RTGS, NEFT, account credit, DD, etc.
A Karur Vysya Bank car loan can be procured by any Indian resident for the purchase of new four-wheelers. Individuals involved in car hiring businesses are not eligible to avail a car loan from KVB.
There are multiple factors that might affect your eligibility, when you avail a Karur Vysya Bank car loan.
CIBIL Score - Maintain a good credit score when you are looking to avail any loan. Banks generally approve loans based on the credit history or score of an applicant. Applicants with regular payment patterns are given preference above customers with low credit scores. The CIBIL score of a customer also plays a major part when lenders have to sanction higher car loan amounts.
Age - The age of the borrower plays an important part in determining the eligibility for a car loan. Eligibility varies with age and banks sanction different loan amounts based on the age of the borrower. Some banks do not approve loans if the customer does not fall between the required age brackets.
Employment history - Banks approve loans to customers who are employed with a steady source of income. Applicants are considered eligible if they are employed without any disruptions with sufficient income and savings.
While planning to buy a new car, choosing the make or model of the four-wheeler is an easy task. Choosing a suitable auto financing option can also be done quickly depending on the financial situation of the borrower. As a preliminary step, customers must always ensure that they are completely eligible for the car loan they would be availing from a particular bank. Checking their eligibility earlier on, ensures that they do not face any hassles during the approval process and also get their intended loan amount. To help them determine their eligibility for a Karur Vysya Bank car loan, there are intelligent tools called car loan eligibility calculators available online. These tools need certain inputs like monthly income, loan amount, interest rate, car make, name, age, car make, etc. to check if the customer is eligible for the new car loan. Customers can determine their eligibility using a car loan eligibility calculator in a matter of seconds. The tools also gives them the loan amount they are eligible to get from a particular lender based on the inputs done.