Thiruvananthapuram, also known as Trivandrum, is the capital city of Kerala. The city contributes up to 55% of the software export from the state and is one of Kerala’s biggest Information Technology hub. Thiruvananthapuram is also called the ‘Evergreen city of India’.
Earlier, it was very difficult for many individuals to buy a car. However, with various banks offering car loans at attractive interest rates, it is possible for every individual to buy their dream car. Almost all banks and Non-banking Financial Companies (NBFCs) in Thiruvananthapuram offer car loans at attractive interest rates. Various offers are also provided on car loans during the festive season.
Car loans are provided on used cars as well. The loan amount that can be availed will depend on the make, model, and car type. Car loans are also provided with flexible repayment tenures. Therefore, you can opt for a repayment tenure that best suits you.
|Bank||Interest Rate||Processing Fee|
|State Bank of India||8.80% to 12.05%||Nil|
|Axis Bank||9.05% - 11.30%||Rs.3,500 – Rs.5,500|
|IDBI Bank||9.20% - 9.90%||-|
|Allahabad Bank||8.60% - 10.85%||Up to Rs.8,696|
|Indian Bank||9.10%||Up to Rs.10,236|
|ICICI Bank||9.30% - 12.05%||Rs.3,500 – Rs.8,500|
|HDFC Bank||9.50% - 10.25%||Rs.3,000 – Rs.10,000|
|Canara Bank||8.70% - 11.30%||Rs.1,000 – Rs.5,000|
|Federal Bank||9.25%||Rs.1,500 – Rs.2,500|
|Andhra Bank||8.80%||Rs.1,000 – Rs.25,000|
Some of the different ways by which you can avail a car loan in Thiruvananthapuram at a low rate of interest are mentioned below:
The eligibility criteria that must be met by salaried employees and self-employed individuals are different. Depending on the lender, the eligibility criteria may vary as well. The basic eligibility criteria that must be met when applying for a car loan are mentioned below:
You can check with the respective lender any other details before applying for the loan.
The documents that must be submitted will be different for salaried employees and self-employed individuals. The list of documents that must be submitted are mentioned below:
The lender will advise you in case they require any more documents.
No, the car cannot be sold unless you receive a No Objection Certificate (NOC) from the lender. The lender provides the NOC only after the loan is cleared.
No, security or collateral need not be provided when availing a car loan. The car acts as security.
No, it is not mandatory to provide a guarantor when availing a car loan. However, in case you do meet the credit criteria, the lender may request a guarantor to be provided.
Yes, a car loan can be availed on an existing car.
Depending on the lender, the maximum amount of loan that can be availed will vary. The loan amount will depend on your credit score as well.
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