Finance your new car with an auto loan from Punjab & Sind Bank and enjoy competitive pricing and complete transparency when you file an application. The Auto loan scheme from Punjab & Sind Bank is available for the purchase of new and used private cars and two-wheelers at an attractive interest rate. Punjab & Sind Bank levies a low processing fee of 0.25% for car loans and also offers flexible repayment tenures ranging up to 84 months to customers. Additionally, Punjab & Sind Bank waives off the processing fee for staff, retired employees of the bank and individuals drawing pension from Punjab & Sind Bank. There is no maximum limit on the sanctioned loan amount and individuals can finance any number of vehicles using the auto loan scheme from Punjab & Sind Bank.
Individuals, corporate firms and other businesses are eligible to procure a Punjab & Sind Bank car loan. The applicant should be aged between 18 to 65 years depending on the entire repayment tenure.
Salaried employees without pension can take car loans only up to the age of 60 years. The age of a salaried borrower with pension and other types of applicants can be aged only up to 70 years during the repayment tenure.
The key factors that might affect your eligibility, while applying for a Punjab & Sind car loan are as follows,
Age - Punjab & Sind Bank mandates that borrowers fall between a certain age limit during the repayment tenure to ensure comfortable repayment of the car loan. Banks might not sanction car loans for individuals falling outside the required age bracket.
CIBIL Score - Always carry a good credit score when you apply for a Punjab & Sind car loan. This will help you get quick approvals and speedup the disbursement process. Individuals with good CIBIL scores easily pass the eligibility criteria set by banks and tend to procure car loans faster.
Profession - The eligibility criteria is deeply impacted with regards to the profession of an applicant. Banks set different criteria for certain profession types and expect applicants to show a steady source of income to easily repay the loan. The eligibility for higher loan amounts also varies depending on the profession of applicants.
Customers availing a Punjab & Sind Bank car loan always need to understand whether they meet the required eligibility criteria as set by the bank. Only then will the bank approve and sanction an auto loan for them. Eligibility for a car loan can be determined using specially designed tools called car loan eligibility calculators, which are available on any third party finance site. These tools give you a quick idea of whether you qualify for a car loan. A car loan eligibility calculator requires certain inputs like monthly income, loan amount, interest rates, age, name, price of the vehicle, make, model, etc., to accurately predict your eligibility. Additionally, these tools are very fast and require only a few seconds to compute the results.
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