• Karur Vysya (KVB) Car Loan Eligibility Calculator

    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.

    Karur Vysya Bank Car Loan Eligibility

    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.

    Factors affecting Karur Vysya Bank Car Loan Eligibility

    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.

    How do you increase your eligibility for a Karur Vysya Bank Car Loan?

    • Add your spouse, friend or any family member as a co-applicant to improve your Karur Vysya Bank car loan eligibility. The bank will consider the income of the co-applicant along with the applicant’s income and sanction loan amounts based on the combined income shown.
    • It is always a good idea to pay off existing liabilities when go for a new car loan. This will ensure that your debts are less and the banks will easily sanction a loan to you. You will also get additional funds to apply for your new car loan.
    • Try showing some extra sources of funds or savings when you apply for a Karur Vysya Bank car loan as this might improve your eligibility criteria. Banks might accept this criteria as this ensures that the borrower is in a position to comfortably repay the borrowed amount.

    Karur Vysya Bank Car Loan Eligibility Calculators

    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.

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