About Hyundai Venue N Line

The Hyundai Venue N Line is a popular variant of the Hyundai Venue compact SUV in India. It is known for its sporty and dynamic design elements that offer a more aggressive and performance-oriented appeal. Hyundai Venue N Line is a 5-seater SUV available in 4 variants. It is a popular choice for both city and highway driving alike.

Planning to buy Hyundai Venue N Line? The loan for the Hyundai Venue N Line car is a convenient and popular option for car owners. Almost all banks offer very attractive loans for Hyundai Venue N Line.

The loan terms, interest rates, repayment conditions, prepayment options, and EMI options vary with different bank offers. Just make sure you compare all the benefits and features of different loan of Hyundai Verna car loan options.

Hyundai Venue N Line Car Loan: Features & Benefits

Common features of Hyundai Venue N Line car loans are listed below:

• Loan amount: You can get a car loan for up to 100% of the car's ex-showroom price.

• The repayment tenure is up to 7 years.

• The interest rate for the Hyundai Venue N line car loan ranges from 6.8% to 11.5% depending on the lender, your credit score, and other factors.

• A down payment of 10-20% of the car's ex-showroom price is usually required.

• Prepayment charges are applicable for some lenders if you decide to pay off your loan before the tenure ends.

• Processing fees are usually up to 2% of the loan amount.

• Credit score will be a crucial factor in determining your eligibility for a car loan and the interest rate you'll be offered.

• No collateral is needed. As the car itself serves as collateral for the loan, if you default on payments, the lender can seize the vehicle.

Some common benefits of getting a Hyundai Venue N Line car loan:

• Affordable payments: It allows you to purchase the car without an entire upfront payment, making it more affordable to own a car.

• Flexibility in loan amount: Lenders offer a range of loan amounts, which allows you to choose a loan that suits your budget and requirement.

• Credit building: A car loan can help you build your credit score if you make timely payments on the loan.

• Tax benefits: Car loans also offer tax benefits, as the interest paid on the loan is tax-deductible.

Before taking the final decision go through all the details and read all the terms and conditions carefully.

Hyundai Venue N Line Car Loan Eligibility Criteria

To avail of a car loan, in India, for Hyundai Venue N Line, individuals must meet specific eligibility criteria. These criteria vary from lender to lender, but some general parameters are:

• Age: Applicants must be at least 21 years of age, and the maximum age limit varies from 60 to 70 years, depending on the lender's policies.

• Income: Applicants must have a stable and regular income source, either through salaried employment or self-employment, to be eligible for a car loan.

• Credit Score: A good credit score is necessary to avail of a car loan. Generally, a score of 650 and above is considered good.

• Employment Stability: Applicants must have a stable employment history of at least one year in the case of salaried individuals and three years in the case of self-employed individuals.

• Residential Status: To get a car loan in India for a Hyundai Venue N Line car, you will have to be an Indian citizen.

• Residency: You will need to live at a certain address for at least 1 year to get a car loan with that residential address.

Documents Required for Hyundai Venue N Line Car Loan

When you are applying for the Hyundai Venue N Line car loan you will need to submit the following documents.

• Identity proof: PAN card, Aadhaar card, passport, driving license, etc.

• Address proof: Voter ID card, passport, utility bills, etc.

• Age proof: Birth certificate, 10th or 12th mark sheet, passport, etc.

• Income proof: Salary slips, bank statements, income tax returns, Form 16, etc.

• Employment details: Appointment letter, employment contract, etc.

• Vehicle-related documents: Proforma invoice, registration certificate, insurance policy, etc.

• Signature verification proof: Banks provide separate forms for applicants to fill up along with their signatures.

• Bank statement: You need to provide your 3-6 months' bank statement.

• Business ownership proof: If you are self-employed, then you need to provide your business details including office address proof, maintenance bill, utility bill and a mandatory copy of the business registration license.

The exact list of documents may vary depending on the lender's requirements and the applicant's profile.

Hyundai Venue N Line Car Loan EMI Calculator

Hyundai Venue N Line car comes with an ex-showroom price (Delhi) range of ?12.67 - ?13.81 Lakh. The on-road price almost ranges from ?14.71 Lakh to ?16.01 Lakh. The Equated Monthly Instalment (EMI) is a sum of the principal amount and interest.

The monthly EMI is fixed through the loan tenure and repaid monthly. To calculate your Hyundai Venue N Line Car loan EMI, use the formula mentioned below.

P x R x (1+R) ^N / [(1+R)^N-1], where

P = Principal amount of the loan

R = Rate of interest

N = Number of monthly instalments

You can calculate with this formula or can use any available car loan EMI calculator.

Hyundai Venue N Line Car Loan Interest Rate, Fees, and Charges

The interest rates, fees, and charges for a Hyundai Venue N Line car loan, in India, may vary depending on the lender's bank. However, here are some general rates.

• Processing fees: Banks and other financial institutions charge processing fees for a car loan, which usually range from 0.5% to 4% of the loan amount.

• Interest rates: The interest rate for a car loan may vary from lender to lender, but generally, it can range from 6.80% to 11.5% per annum.

• Foreclosure charges: If you want to prepay your car loan, before the end of the loan tenure, most banks don't charge anything. But some banks may charge a foreclosure fee ranging from 2% to 7% of the outstanding loan amount.

• Late payment charges: If you miss a car loan payment deadline, banks may charge a late payment fee, which usually ranges from 1% to 4% of the overdue amount.

• Other charges: Apart from these charges, lenders may levy other charges such as documentation charges, processing charges, stamp duty, road taxes, etc.

Down payment required for Hyundai Venue N Line Car Loan

To get a Hyundai Venue N Line car loan, you need to pay a down payment of 10%- 25% of the car's on-road value. Although the down payment amount depends on your credit score and other factors, you can get a zero down payment car loan for your Hyundai Venue N Line Car as well.

Some banks like ICICI Bank provide car loans up to 100% of the on-road price of the car.

How to get Hyundai Venue N Line Car Loan?

To get a Hyundai Venue N Line Car Loan,

1. Check your eligibility: Check your eligibility for the car loan by considering factors like income, credit score, and employment status.

2. Select a lender: Research and compare different lenders to find the best car loan that suits your requirements.

3. Apply: Fill out the car loan application form and submit it to the lender.

4. Provide necessary documents: Provide necessary documents like identity proof, income proof, and address proof to the lender.

5. Verification and approval: After verifying the documents and checking your credit score, the lender will approve your loan application.

6. Down payment: Pay the down payment as per the terms and conditions of the lender.

7. Disbursement: After the down payment, the lender will disburse the loan amount to the dealer or seller.

8. Repayment: Repay the loan in Equated Monthly Installments (EMIs) for the tenure agreed upon with the lender.