If you really think about it, it's easier getting a loan for a car than a loan for bus fare!
  • Car Loan BYTES FROM OUR KITCHEN

    Visakhapatnam Car Loan

    Visakhapatnam, also known as “Vizag”, is a port city on the southeast coast of India in the state of Andhra Pradesh. It is often called "The Jewel of the East Coast" and the "City of Destiny". The city is home for various state owned heavy industries and a steel plants. Apart from accommodating various international information technologies and banking firms, the city is a hub for iron ore and other minerals which are exported to China and other countries. The fishing and real estate industry has seen a tremendous growth.The city has a population of over 1 million, is the second largest city in the state of Andhra Pradesh and the third largest city on the east coast of India. Visakhapatnam has been recognised as a Global City of the Future by McKinsey Quarterly.

    About Car Finance: Personal Car Finance is a complete subsector of personal finance, with numerous different products available. These include a straightforward car loan, hire purchase, personal contract hire (car leasing) and Personal Contract Purchase. Therefore car finance includes but is not limited to vehicle leasing. These different types of car finance are possible because of the high residual value of cars and the second hand car market, which enables other forms of financing beyond pure unsecured loans.

    Documentation needed to apply for an Visakhapatnam Car Loan

    • 1. Photo ID and age proof
    • 2. Signed application form with photograph
    • 3. Residence proof
    • 4. Last 6 months bank statement
    • 5. Documentation for salaried applicants:
      • Last 3 months salary – slips
      • Form 16 or Income Tax Returns
    • 6. Documentation for self-employed applicants:

      • Last 3 years Income Tax Returns with computation of Income
      • Last 3 years CA Certified / Audited Balance Sheet and Profit & Loss Account

    Visakhapatnam Car Loan Interest RatesUpdated on 25 May 2019

    Visakhapatnam Car Loan Details
    Interest Rate (Monthly reducing balance) 10.5% - 12.75%
    Processing Fees Rs. 500 to Rs, 5,000
    Loan Tenure 1 year to 5 years
    Pre-closure Charges 2% to 4% on outstanding loan amount
    Guarantor Requirement No guarantor required

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