Catholic Syrian Bank is a private-sector bank in India. Established in 1920, the bank offers various financial products and services, including car loans, to its customers. The bank has designed an eligibility calculator to help customers to know their eligibility for a car loan based on factors such as their background, income, credit score, and age.
| Eligibility Criteria | Details |
|---|---|
| Age | 21-70 years |
| Employment Type | Salaried or self-employed |
| Minimum Income | Rs. 1.5 lakhs per annum |
| Loan Amount | Up to 90% of the car's on-road price |
| Tenure | Up to 7 years |
The above eligibility criteria are indicative only, and the actual eligibility will depend on various factors such as loan scheme, loan amount, credit score, income, and employment type, among others. Please contact the bank for further information and clarity regarding your eligibility to apply for a car loan.
Several factors can affect the eligibility for a car loan from Catholic Syrian Bank, including:
Income: The borrower's income and stability of income can affect their eligibility for a car loan.
Credit score: A good credit score is essential to be eligible for a car loan as it reflects the borrower's creditworthiness.
Age: The borrower's age plays a crucial role in determining their eligibility for a car loan.
Employment type: Salaried individuals and self-employed individuals have different eligibility criteria.
Existing loans: The borrower's existing loans and their repayment history can impact their eligibility for a car loan.
Loan amount and tenure: The loan amount and tenure chosen by the borrower can also affect their eligibility.
To apply for a new car loan from Catholic Syrian Bank, the borrower needs to submit certain documents. These include:
ID proof: Aadhaar card, passport, PAN card, driving license, etc.
Address proof: Aadhaar card, passport, utility bills, etc.
Income proof: Salary slips, bank statements, ITR, etc.
Car-related documents: Proforma invoice, RC book, insurance policy, etc.
Photographs: Recent passport-size photographs of the borrower.
A car loan eligibility calculator is a tool that helps individuals know their eligibility for a car loan based on various factors such as income, credit score, age, etc.
The car loan eligibility calculator provides an indicative eligibility amount based on the information provided. However, the actual eligibility may vary based on various other factors, and the final decision rests with the bank.
Factors such as income, credit score, age, employment type, existing loans, loan amount, and tenure are considered while calculating eligibility.
Yes, Catholic Syrian Bank offers car loans to both salaried and self-employed individuals.
The maximum loan amount that can be sanctioned depends on various factors, such as the on-road price of the car, the loan scheme, and the borrowers eligibility criteria.