If you really think about it, it's easier getting a loan for a car than a loan for bus fare!
  • Syndicate Bank Used Car Loan is Rated as "Excellent!" by 33 Users

    Fees & Charges

    Promised Interest Rate

    Customer Service

    Responsiveness

    Car Loan BYTES FROM OUR KITCHEN

    Syndicate Bank Used Car Loan

    Founded in the year 1925, Syndicate Bank holds the honor of being one of the oldest commercial banks in India. Originally known as Canara Industrial & Banking Syndicate Limited, Syndicate Bank got its new name in 1969 after it merged with 20 other banks like the Maharashtra Apex Bank and the Southern India Apex Bank Limited. Syndicate Bank has been conferred with various awards for excellent performance and service and currently operates with a wide spread network of over 3300 branches. The spectrum of services offered by the bank include finance, insurance, consumer, corporate & investment banking, wealth management, private equity, mortgages and credit cards.

    For those wishing to purchase a second hand vehicle, Syndicate Bank offers the perfect financial aid. The SyndVahan Used Car Loan by Syndicate Bank comes with a host of advantages like flexible repayment period, low interest rate, high loan amount and more.

    Features and Benefits of Syndicate Bank Used Car Loan

    Following are some of the noteworthy features of the SyndVahan Used Car Loan.

    1. Quantum of Loan Amount

      The quantum of loan available for second hand vehicles will be either (i) 70% of the value of the car, or (ii) thrice the applicant’s net annual income or (iii) Rs 3 lakh, whichever of the three is less.

    2. Repayment

      The maximum tenure available for the SyndVahan Used Car Loan is up to 60 months.

    Syndicate Bank Used Car Loan Eligibility Criteria

    The SyndVahan Used Car Loan can be availed by individuals, proprietorship, partnership firms, agriculturists, trusts, societies and other legal organizations. This loan is however is not available to HUFs and directors or employees of corporates. In order to apply for this loan, eligible applicants must have an annual income of not less than Rs 1 lakh. Also, income of the applicant’s spouse or any major children will be taken into consideration for loan eligibility.

    Syndicate Bank Used Car Loan Interest Rates

    The SyndVahan Used Car Loan offers one of the lowest interest rates available in the market in order to make it easier for you to purchase your dream car. The interest rate for this loan is linked to the prevailing base rate in the market.

    Documentation Required for Syndicate Bank Used Car Loan

    Customers must submit the following documents in order to apply for the SyndVahan Used Car Loan.

    • Salary Certificate, OR
    • ITAO for non-salaried class/property documents where ITAO is not available
    • Proforma Invoice

    Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners. Display of such IP along with the related product information does not imply BankBazaar's partnership with the owner of the Intellectual Property or issuer/manufacturer of such products.

    Syndicate Bank Used 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? 3
      , 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? 2
      , 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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