If you really think about it, it's easier getting a loan for a car than a loan for bus fare!
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  • Syndicate Bank Used Car Loan Reviews

    • 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
    • Syndicate Bank Car Loan
      "Good banking for good people"
      0.5 5.0/5 "Blown Away!"
      SYNDICATE BANK has offered me 95% funding on my vehicle which is really good. Since I find the down payment was very less with them so took car loan from Syndicate. It was very flexible to make the EMI payments and I have another sevens years of tenure period to complete it. Every month I am making the EMIs through ECS transactions.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Oct 09, 2015
    • Syndicate Bank Car Loan
      "Great Effort"
      0.5 5.0/5 "Blown Away!"
      My car loan was processed by Syndicate Bank in just 2 days. I availed the loan in August 2015. The branch manager took initiative to work after office hours and process the loan. I am happy with the service that I got from Syndicate Bank. I got the loan amount as per my expectation and even the charges for processing was also okay.
      Was this review helpful? 1
      , bangalore
      Reviewed on Sep 21, 2015
    • Syndicate Bank Car Loan
      "Awesome"
      0.5 5.0/5 "Blown Away!"
      Very extra extraordinary experience I had with syndicate bank. Interest rate offered was as per RBI rule and they took only Rs.1500 as the processing fee of the loan. Within 2 days they disbursed the car loan.
      Was this review helpful? 0
      , mysore
      Reviewed on Sep 02, 2015
    • Syndicate Bank Car Loan
      "Best Bank"
      0.5 5.0/5 "Blown Away!"
      The services was very good from Syndicate bank. The process was very fast for the car loan. I got the loan within two days. It was a quick process. They offered me the best rate. It was of 10.2%. They also had a zero processing charge.
      Was this review helpful? 3
      , bangalore
      Reviewed on Aug 26, 2015
    • Syndicate Bank Car Loan
      "Can be better"
      0.5 3.0/5 "Satisfactory"
      Service was up to the market. When it comes to Syndicate bank car loan. There was no customer interaction I have been holding this car loan for the past 18 months. Interest rate offered by Syndicate bank for the car loan was good. I had no other options that is why I had taken this loan with them. Good if they improvise on their services.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Aug 10, 2015
    • Syndicate Bank Car Loan
      "Worth It!!!!!"
      0.5 4.0/5 "Great!"
      I am very happy with Syndicate Bank. They provided me a Car Loan. When I applied I got the loan within 10 days time. It was around Rs 3.5 Lakhs they provided with a tenure of 5 years. The interest rate is 10.75% which is reasonable. The processing fee was little bit high. It is also easy to pay my EMI as I do it online. They are a bit slow. It will be better if they actually speed up the process of getting a loan.
      Was this review helpful? 1
      , kochi
      Reviewed on Jul 13, 2015
    • Syndicate Bank Car Loan
      "Amazing..."
      0.5 4.5/5 "Excellent!"
      Syndicate is comfortable to avail car loan because their rate of interest is very reasonable as it is very less. Paper works are minimal and just they asked for few papers to complete the loan. Within a day the documentation was over. Processing charge that deducted was only less than 2500.
      Was this review helpful? 2
      , chennai
      Reviewed on Jun 30, 2015
    • Syndicate Bank Car Loan
      "nice"
      0.5 4.0/5 "Great!"
      I got the car loan with the syndicate bank.The rate of interest is around 9.5%.They are providing the better services over the number of times, but they need to improve the services.The issue resolving process should be improved.
      Was this review helpful? 3
      , ghaziabad
      Reviewed on Jun 13, 2015
    • Syndicate Bank Car Loan
      "Satisfied with Service"
      0.5 5.0/5 "Blown Away!"
      Syndicate bank car loan till now i did not had any problems i got loan approval in just 4 days, i am much satisfied with interest rate provided when compare to other banks, even there response was very good i have no suggestion i am fully satisfied with there service overall.
      Was this review helpful? 11
      , bangalore
      Reviewed on Jun 06, 2014
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    Syndicate Bank Used Car Loan is Rated as "Blown Away!" by 20 Users

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    Promised Interest Rate

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    Car Loan BYTES FROM OUR KITCHEN

    Syndicate Bank Used Car Loans

    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

    Purchasing a new or used vehicle can be a lot easier after securing financing from Syndicate Bank. The bank facilitates the purchase of two and four wheeler vehicles through its SyndVahan loan scheme. Interest rates are now being calculated on the MCLR basis, or the base rate basis. Customers who have already taken this loan can shift to the MCLR platform if they so wish.

    Syndicate Bank Marginal Cost of Funds Based Lending Rate (MCLR)

    New borrowers of the SyndVahan vehicle loan will be charged interest based on the new MCLR system, which was implemented after an RBI order mandated the same. The new MCLR system rates reflect the current economic conditions, as they take into account factors like CRR (Cash Reserve Ratio), current repo rate, operating costs, etc.

    Marginal Cost of Funds Based Lending Rate (MCLR) Tenure / Period. Benchmark Rates (MCLR)
    Overnight 9.50%
    One Month 9.55%
    Three Months 9.55%
    Six Months 9.60%
    One Year 9.65%

    Used car loan interest rates for May 2016

    There are some factors that affect the final interest rate payable by a customer to the bank, such as the tenure chosen, the negotiations with the bank representative, etc. The bank, at its own discretion, can add a percentage of interest over and above that of the MCLR.

    Syndicate Bank interest rate for used car loan

    These interest rates mentioned below are for the base rate system, and existing customers can shift to the MCLR based system if they wish.

    Base Rate + 0.65% p.a. for four wheelers.
    Base Rate + 2% p.a. for two wheelers.

    Note: Rates mentioned above are accurate as of June 7, 2016. Syndicate Bank can change these rates without any prior intimation to the public. It is strongly advised that any customer contact the bank and check the prevailing rates as on the date of loan requirement.

    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
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