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  • Syndicate Bank Car Loan

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  • Syndicate Bank offers car loans for up to 85% of the on-road price of the car. It also offers Rs.10,000 for car accessories, in addition to the actual loan amount. The rate of interest charged on car loan are as low as 9.15% p.a. The repayment tenure can be extended up to 84 months.
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    Having been established in 1925, Syndicate Bank is one of the oldest banks in India. It was established in 1925 in Udupi, Karnataka. It is one of the first Public Sector Banks which launched Core Banking Solutions or CBS. The bank has successfully implemented CBS across all its branches and that makes it a 100% CBS enabled bank.

    Compare Syndicate Bank Car Loan or ‘Synd Vahan’ 2019

    Name of loan Rate of interest (% p.a.) Loan Amount (Rs.) Processing Fees
    Syndicate Bank Car Loan or ‘Synd Vahan’ 9.15% p.a. to 9.40% p.a. (as on 10 March 2019) Up to 85% of the on-road price of the car As low as Rs.1.25 for every Rs.1,000

    Why should you choose Syndicate Bank Car Loan or ‘Synd Vahan’?

    The main advantages of choosing Syndicate Bank Car Loans or ‘Synd Vahan’ can be summed up as follows:

    • Hassle-free process of application
    • Easy online application process
    • Competitive and lucrative rate of interest
    • Lower interest rates for existing customers
    • Flexible repayment tenure of up to 84 months
    • Loan amount of up to 85% of the on-road price of the vehicle or 3 times of the gross annual income of the applicant, whichever is lower.
    • Extra amount of up to Rs.10,000 for accessories
    • Feasible EMI amounts

    Fees and Charges for Syndicate Bank Car Loan or ‘Synd Vahan’

    The fees and charges which are applicable to Syndicate Bank Car Loan or ‘Synd Vahan’ are as follows:

    • Processing fee:
    • For loan amount of up to Rs.2 lakh - Rs.1.25 for every Rs.1,000, subject to a minimum of Rs.125
    • For loan amount of more than Rs.2 lakh - Rs.200 for every Rs.1 lakh
    • Documentation charges:
    • For loan amount of up to Rs.2 lakh - Nil
    • For loan amount of more than Rs.2 lakh - Rs.100 for every Rs.1 lakh, subject to a maximum of Rs.1,250
    • Inspection charges:
    • For loan amount of up to Rs.1 lakh - Rs.250 for every inspection
    • For loan amount of more than Rs.1 lakh - Rs.500 for every inspection

    Eligibility criteria for Syndicate Bank Car Loan or ‘Synd Vahan’

    The car loan eligibility criteria differ from bank to bank. Some of the common eligibility criteria are summed up below:

    • Employment status: The applicant should be a salaried individual or a self-employed individual with a source of regular income.
    • Minimum income: The bank might have a minimum income criterion which might vary.
    • Minimum age limit: Most banks have a minimum age criterion of 18 years. However, the minimum age requirement may vary from bank to bank.
    • Credit score: The applicant should have a good credit score. The credit score requirement varies from bank to bank.

    Documents required to apply for Syndicate Bank Car Loan or ‘Synd Vahan’

    The documentation process is quite simple and hassle-free for Syndicate Bank Car Loan or ‘Synd Vahan’. The following documents are required for the application process:

    • Document for age proof such as Aadhaar Card, PAN card, etc.
    • Proof of identity such as passport, Aadhaar Car, Voter’s ID card, PAN Card, driving license, etc.
    • Proof of residential address such as passport, ration card, utility bills, etc.
    • Proof of income.
    • Duly filled up application form.
    • Recent passport-sized photographs.
    • Proof for verification of signature.
    • Bank account statement and so on.

    Frequently Asked Question (FAQs) on Syndicate Bank Car Loan or ‘Synd Vahan’

    1. How can I track the status of my Syndicate Bank Car Loan or ‘Synd Vahan’ loan?

      You can apply for a Syndicate Bank Car Loan or ‘Synd Vahan’ loan directly from the Syndicate Bank website. In this case you can directly track your loan status by getting in touch with the bank. On the other hand, if you have applied for a Syndicate Bank Car Loan or ‘Synd Vahan’ loan through a third-party website such as BankBazaar, you can log in to your profile to check the status. In case you apply for the loan through BankBazaar, you will also get regular updates on your registered email ID and phone number through email and SMS about the status of the loan. BankBazaar also has a smartphone app through which you can get push notifications.

    2. What type of four wheelers can be purchased using Syndicate Bank Synd Vahan Car Loan?

      Syndicate Bank Car Loan can be used to purchase all types of new and second-hand four wheelers.

    3. What extra charges will be included in the on-road price of the vehicle when calculating the loan quantum?

      On-road price includes road tax, registration charges, and insurance costs when the loan quantum is being calculated under Syndicate Bank Car Loan.

    4. How do I get the application form for Syndicate Bank Car Loan or Synd Vahan Loan?

      An applicant who wants to apply for a Syndicate Bank Car Loan or Synd Vahan Loan will be required to collect an application form. The applicant can get the application form from one of the nearest Syndicate Bank branches or visit the official website of the bank and download the application form from the portal itself.

    5. How do I calculate the monthly EMI amount for my Syndicate Bank Car Loan?

      You can find out the EMI on your Syndicate Bank Car Loan by using the online car loan EMI calculator offered by BankBazaar. You will have to enter details like the principal amount, processing charges if any, car loan interest rate and tenure in years.

    Perfect Car Loan Deals for you

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    Syndicate Bank Car Loan Reviews

    • Syndicate Bank Car Loan
      "Good"
      0.5 5.0/5 "Blown Away!"
      I was taken a car loan in SYNDICATE bank. As per my requirement I received a loan amount for the duration for 5 years. The rate of interest was nominal of 10.25%. The fee also was nominal. There was an option for pre closure so I have done on early to close and there was no charge no preclosure.
      Was this review helpful? 0
      , bangalore
      Reviewed on May 26, 2019
    • Syndicate Bank
      Syndicate Bank Car Loan
      "Good"
      0.5 5.0/5 "Blown Away!"
      I have a car loan with Syndicate Bank. They have provided me a good service during the process. The loan duration was 2 years and its been completed. There is no charge for foreclosure. The interest rate is reasonable and no processing fee. The documents are provided to the executive.
      Was this review helpful? 1
      , new delhi
      Reviewed on Apr 03, 2019
    • Syndicate Bank Car Loan
      "Good Deal from Syndicate"
      0.5 5.0/5 "Blown Away!"
      I took car loan of Rs. 6 lakhs, for the total tenure of six years, they gave me better interest rate than other banks. I am happy with that part but deducted some amount and then they told to send mail. When I wrote mail to the bank, there was no response about the amount.
      Was this review helpful? 8
      , new delhi
      Reviewed on Nov 09, 2018
    • Syndicate Bank Car Loan
      "Good service"
      0.5 2.0/5 "Expected more"
      It has been all good with the services which they had been providing so far. The rate of interest for this loan has been low. But it has taken more time in the whole process. It has been a normal service which they had given and there has not been much hassles.
      Was this review helpful? 4
      , new delhi
      Reviewed on Jun 08, 2018
    • 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? 3
      , 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? 3
      , 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? 3
      , 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? 2
      , 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? 1
      , 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? 1
      , 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? 1
      , 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? 1
      , 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? 2
      , 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? 1
      , 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? 1
      , 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? 3
      , 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? 2
      , chennai
      Reviewed on Nov 04, 2015
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