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  • Syndicate Bank Car Loan Eligibility Calculator is Rated as "Excellent!" by 29 Users

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    Syndicate Bank Car Loan Eligibility Calculator

    Syndicate Bank Car Loan Eligibility Overview

    Syndicate Bank was incorporated in Udupi, Karnataka in 1925 and was initially known as “Canara Industrial and Banking Syndicate Limited”. Since its inception, several local banks merged with the bank to emerge as one of India’s leading commercial banks. The bank was renamed as Syndicate bank in 1964. It is currently headquartered in Manipal, Karnataka.


    Syndicate Bank offers the car loan scheme called “SyndVahan” to its customers for purchasing both new and used cars.Syndicate Bank approves car loans after stringent screening. With attractively low interest rates and flexible repayment tenure, customers tend to go for the Syndicate Bank car loan over other car loan schemes offered in the market. The quantum of finance offered is up to 95 % of the ex-showroom(on road price), which makes “SyndVahan” a highly desirable car loan scheme.

    Syndicate Bank Car Loan Eligibility Criteria

    • Proprietorship, Individuals, Partnership firms, Trusts, Agriculturists, Societies, and any legal entities other than Directors/Employees of the Corporates, HUFs, etc. are eligible to apply for a Syndicate Bank car loan.
    • The applicant must be 21 years of age (minimum) to apply for a Syndicate Bank car loan.
    • The maximum age limit is up to 60 years.
    • The applicant must earn a minimum income of ? 2,00,000 annually.
    Apply for Car Loan Online

    Factors Affecting Syndicate Bank Car Loan Eligibility

    • CIBIL Score: Syndicate Bank will check the credit report of an applicant before processing his/her application further. The credit history reflected in the CIBIL score will show the creditworthiness of an individual. The credit score reflects the financial records including payment history, current and closed credit accounts, and duration of active credit. A low credit score paves way for the rejection of a car loan approval by the Bank. However, with a high credit score, the application will be reviewed positively and with other factors being favourable as well, the applicant has a good chance of getting the loan approved.
    • Income: Income is a very important factor in determining the car loan eligibility of an applicant. The debt-to-income ratio is analyzed by the Bank in order to understand the debt burden of a particular applicant compared to the income earned by him/her, in a year. This assists the Bank to evaluate the borrower’s repayment capability.
    • Amount of loan and loan margin: If the borrower pays a hefty amount as downpayment for the car, then the loan amount can be reduced. This acts as a positive evaluation factor since, larger the loan margin and lesser the loan amount, higher the probability of getting the car loan approved by Syndicate Bank.
    • Age: Applicant whose age is within the age criteria set by the bank, can avail the car loan from Syndicate Bank. Applicants who fall close to the upper age limit have a lesser chance of getting their loan approved unless they choose a lower loan tenure.
    • Loan Tenure: If the tenure of loan chosen by the applicant is short, then the Bank will view the application favourably. This is because, a lower car loan tenure indicates a quicker repayment of the loan and hence, the terms of the car loan will be in favour of the applicant.

    How to increase you Syndicate Bank Car Loan Eligibility

    • Credit History/ CIBIL Score: Improving your credit history or CIBIL Score can go a long way in ensuring that your car loan eligibility is high. A high credit score from CIBIL or a good credit history can ensure that you can get your car loan approved faster. In order to have a good credit history or CIBIL score, you keep the following tips in mind:
      • Make sure all repayments are made a timely manner. If there are any payments that are overdue on loans/credit, this is considered as negative credit traits by lenders.
      • Having too many unsecured loans such as credit cards, personal loans, etc. is considered unfavourably by the bank while evaluating your credit history. It is better to have a combination of both secured credit and unsecured credit.
    • Joint accounts and other co-signed or accounts for which you are the guarantor, are also important when it comes to your credit score. Hence, you should review such accounts repeatedly, as you are held accountable for any defaulting/ missed payments made in these accounts.

    Syndicate Bank Car Loan Eligibility Calculator

    You can quickly and easily access the information pertaining to your eligibility for a Syndicate Bank car loan, from the convenience of your home or even from your office. There are no hassles involved, such as visiting the Syndicate Bank branches or waiting for a call from the Bank’s executives in order to know get your eligibility for the car loan verified. An online car loan eligibility calculator can be used free of cost in order to evaluate your eligibility for a Syndicate Bank Car Loan. This process is not just time-saving, but accurate as well and can provide instant results which can help you move on to your application process. The input that you need to provide includes: the make and model of the car of your choice, the on-road price, your personal details such as date of birth, income, salaried/ self-employed, etc. Then by clicking on the “calculate” tab you can access the results where you can find out whether you are eligible or not for a specific loan amount/tenure, tenure and amount of loan that you are eligible for, etc.

    Syndicate Bank Car Loan Reviews

    • Syndicate Bank Car Loan
      "Excellent service "
      0.5 4.5/5 "Excellent!"
      I have taken this loan almost like a year back. Submitting the documents which was easy. I had a damage in my car during this year and i made claim on it and it went smooth and i had a good experience with that. It has been going on long back and i already had renewed this once.
      Was this review helpful? 0
      , jaipur
      Reviewed on May 02, 2018
    • Syndicate Bank Car Loan
      "Best Service"
      0.5 5.0/5 "Blown Away!"
      My car loan experience was very good with Syndicate bank, the rate of interest was nominal when compared to other banks. The process was quick and i received my loan amount on time. My loan was approved based on ex-showroom price and the tenure period for this loan is 3 years.
      Was this review helpful? 0
      , bangalore
      Reviewed on Apr 20, 2018
    • Syndicate Bank Car Loan
      "Better service"
      0.5 4.0/5 "Great!"
      I have got the car loan from the SYNDICATE BANK with the tenure of 5years, but I have closed it within 4 years. There was not pre closure charges , The rate of interest and the charges are average with the SYNDICATE BANK car loan service. The customer support service is good with the SYNDICATE BANK.
      Was this review helpful? 0
      , noida
      Reviewed on Mar 19, 2018
    • Syndicate Bank Car Loan
      "Best service"
      0.5 5.0/5 "Blown Away!"
      I have taken Car loan from Syndicate Bank and it was a very good loan experience. The loan amount was for Rs 6 lakhs with the rate of interest of 10.5% which is nominal when compared to all other banks. The process was very smooth and i received my loan amount within 1 week. Customer service was good and they provided door step service to collect the documents. My loan amount was approved based on Ex-showroom price and the tenure of the loan is 7 years.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jan 06, 2018
    • Syndicate Bank Car Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      Syndicate car loan service was good ,I am one of the happiest customer of syndicate bank the interest rate they offered me was low compare to other banks in the market the customer service was awesome the documents have been collected from my door step and the payments will be deducted from my savings account through ecs it was a excellent experience with syndicate for my car loan service.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Nov 23, 2017
    • Syndicate Bank Car Loan
      "Average"
      0.5 3.0/5 "Satisfactory"
      I have taken the car loan with the Syndicate bank and the interest rate is around 9.1% and the customer service is good one for me like they have 100% of cost of car as loan. Customer service and other things are really fine one for me with them.
      Was this review helpful? 0
      , kochi
      Reviewed on Oct 04, 2017
    • Syndicate Bank Car Loan
      "They are good"
      0.5 4.0/5 "Great!"
      My first car loan with Syndicate bank in Puna, its a nationalized bank, hence the response is slow but in term of business they are playing good role. They are always best in interest and other offers, they provides what they commits to the customers.
      Was this review helpful? 0
      , bangalore
      Reviewed on Aug 31, 2017
    • Syndicate Bank Car Loan
      "Very good service"
      0.5 5.0/5 "Blown Away!"
      The car loan process went good with syndicate bank, I would say it very comfortable to get a loan with Syndicate bank. They have disbursed the loan with in a day time. The required loan amount has been disbursed, so I am happy about the loan amount. The rate of interest is nominal with syndicate bank.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jul 06, 2017
    • Syndicate Bank Car Loan
      "Good in interest rate"
      0.5 3.0/5 "Satisfactory"
      For the car loan, Syndicated bank quoted an interest rate of 8.95% this is for a tenure of 7 years. Initially I applied with ICICI bank but the interest rate is very high with them hence I moved to Syndicate bank. Interest rate, other charges and terms and conditions are very low with Syndicate bank but customer support is not up to the mark , more than all it is a Nationalized bank.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jun 24, 2017
    • Syndicate Bank Car Loan
      "Hassle free "
      0.5 5.0/5 "Blown Away!"
      My home branch offered very least interest rate of 8.5% on car loan. I am very much satisfied with Syndicate bank. They have approved 100% loan but I asked only for 75% of loan. It was happened on last December, my loan is running without any hassles.
      Was this review helpful? 0
      , chennai
      Reviewed on May 18, 2017
    • Syndicate Bank Car Loan
      "Good "
      0.5 5.0/5 "Blown Away!"
      I got the car loan with Syndicate bank and the interest rate was around 9.45% and the customer service was very good. I got the loan amount to be credited within three days of time. Response was an average one with them because they are nationalized bank.
      Was this review helpful? 0
      , bangalore
      Reviewed on Feb 17, 2017
    • Syndicate Bank Car Loan
      "Easy to avail loan in 24 hours"
      0.5 5.0/5 "Blown Away!"
      I took a car loan for my new car with Syndicate bank which I chose since its a nationalised bank. They give preference to servicemen and also have better interest rate of 10.35% combined with a nominal processing fee of Rs.700. I got the loan sanctioned in about 24 hours which is really quick. Their customer support and management is very satisfactory.
      Was this review helpful? 0
      , greater noida
      Reviewed on Apr 28, 2016
    • Syndicate Bank Car Loan
      "Best for car loan..."
      0.5 5.0/5 "Blown Away!"
      I would say Syndicate bank is the best bank for car loan. Process was too fast I got it within 24 hours. Services part also good. Syndicate bank providing maximum loan amount based on our salary and also previous track. Customer service is good especially shanthi nagar manager who did every thing on a good manor.
      Was this review helpful? 2
      , bangalore
      Reviewed on Mar 07, 2016
    • Syndicate Bank Car Loan
      "Very good servicer "
      0.5 5.0/5 "Blown Away!"
      The service provided was good with Syndicate bank related to the car loan application.I like the transparent service provided regarding the loan process.The interest rate applied was very good with syndicate bank related to the car loan.
      Was this review helpful? 2
      , new delhi
      Reviewed on Mar 03, 2016
    • Syndicate Bank Car Loan
      "Better!!"
      0.5 4.0/5 "Great!"
      It is a nationalized bank, they are good in terms of service, their charges are nominal. In one day documents were collected and they have disbursed my loan. Over all it was a good experience with Syndicate bank in terms of car loan.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Nov 30, 2015
    • Syndicate Bank Car Loan
      "Quick disbursal!"
      0.5 5.0/5 "Blown Away!"
      Syndicate bank processed my loan within 30 minutes. I applied for the car loan through my car dealer. And everything went in a smooth manner with them. They collected form 16, KYC details and my employment details as documents. They helped me by processing up to 95% of the carâ??s on road price.
      Was this review helpful? 1
      , chennai
      Reviewed on Nov 04, 2015
    • Syndicate Bank Car Loan
      "New loan to me "
      0.5 5.0/5 "Blown Away!"
      Recently I have taken my car loan from SYNDICATE BANK. Every month I need to pay the EMI of rupees 13k which will get deducted from my salary account. Paper works is not much with them. They are giving attractive offers to the customers.
      Was this review helpful? 2
      , chennai
      Reviewed on Nov 03, 2015
    • Syndicate Bank Car Loan
      "Manager helped me during the government holiday.."
      0.5 5.0/5 "Blown Away!"
      On the special note the Syndicate bank helped me in government holiday and they done things for me. The manager helped me to open an account and he was only person in the branch on that government holiday. In a short time I received the cheque for car loan. Also they gave 95% from the on road price. They did not charge me high.
      Was this review helpful? 2
      , chennai
      Reviewed on Oct 23, 2015
    • Syndicate Bank Car Loan
      "Very much complicated"
      0.5 2.5/5 "Just OK"
      Process was complicated when it comes to Syndicate bank car loan. We have to visit the branch every now and then as no one will come to our place for documents collection. Customer has to hold an account with the same bank for getting a car loan also they will ask for surety even if you are holding an account with the same bank . I was holding this car loan for a period of 5 years now.
      Was this review helpful? 2
      , bangalore
      Reviewed on Oct 13, 2015
    • Syndicate Bank Car Loan
      "Satisfactory"
      0.5 4.0/5 "Great!"
      My car loan is from Syndicate Bank. The services was good. The process was a bit long from them. It took around 15 days for me to get the loan. They offered a very good rate of interest. The processing charges was good too. Overall it was a good experience.
      Was this review helpful? 1
      , bangalore
      Reviewed on Oct 13, 2015
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