Easily Finance Your New Car with Our Car Loan Choices
Loan of up to ₹ 47 Lakh.
3 Unique Variants.
Tenure of up to 72 months.
Minimal Documentation.
Car loan eligibility determines if you qualify for a loan to purchase a vehicle. Factors include your income, credit score, and existing debts. Lenders assess these details to determine your ability to repay the loan. Meeting their requirements makes you eligible; otherwise, you may need to wait or enhance your financial situation before obtaining a car loan.
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Car loan eligibility criteria differ between banks, but common factors include age (typically 21 to 65 years), a minimum monthly income (often around INR 20,000), and consistent employment. A credit score of 650 or higher is generally favorable. Banks may require applicants to be either salaried employees or self-employed, with specific work experience or business tenure. Existing debts and liabilities are also assessed to ensure loan manageability. For exact criteria, consult individual banks directly or use their online eligibility calculators.
An EMI calculator is a helpful resource that estimates the monthly payments for your car loan over a set period. With the SLNFinserv EMI calculator, you can calculate your EMI in advance, aiding in better financial planning. Moreover, you can assess your eligibility and compare various loan options using the SLNFinserv Car Loan calculator.
