To own your dream car, you must look for the right car loan from a reliable bank. And while talking about the trusted banks with flexible car loan schemes, you should not miss out on the Ratnakar Bank car loan.
Ratnakar Bank can help you live your dreams with its innovative car loan scheme. Car loans from Ratnakar Bank promise you a doorstep service that saves you time and money. Its car loans also feature hassle-free and quick sanctions while offering customisable schemes.
Ratnakar Bank thus offers you the best car loan schemes. You can learn more about these car loan schemes below.
Ratnakar Bank car loans are a one-stop solution for all potential car buyers. The salient features of Ratnakar Bank car loans include:
Schemes facilitating smooth customisation
Quick and easy loan sanctions
Smooth and hassle-free process of documentation
Flexible door-step service at your fingertips
Superior loan amount extending up to INR 30 lakhs for pre-owned cars
Flexible repayment schedule extending from 12 to 60 months
Fascinating rate of interest ranging from 12% -14% per annum
Processing fees as low as 1% of the loan amount (exclusive of applicable charges)
The loan amount given is up to 90% of the value of the car, covering ex-showroom price, payable taxes and car insurance
Car loan interest rates vary in India depending on several factors. A few of the pivotal factors are listed below. They are:
Credit score: Your credit score decides whether you will be able to get a car loan from Ratnakar Bank or not. If you have a good credit score, the bank will offer you a car loan with low-interest rates.
Age of your car: The age of your car determines the rate of interest. All new cars allow you to have a low car loan interest.
Market fluctuations: Car loans with fixed interest rates do not change with frequent market fluctuations. It allows for loan repayment in equal and fixed monthly instalments. With floating interest rates, the instalment amount and repayment tenure become more flexible.
For hassle-free loan applications, always go for online modes. To apply for car loans from Ratnakar Bank, follow these simple steps:
Log on to the official website of Ratnakar Bank.
Click on the 'Personal Banking' option.
Select 'Read More' under the 'Loans' section.
Click on the 'Car Loan' section.
Choose 'Apply Now'.
Enter your name, date of birth, state, city, mobile number and email ID to proceed.
Then click on 'Submit' after checking out the consent box.
After that, a representative from Ratnakar Bank will contact you.
You can ask them to know more about the status of your loan.
The success of your car loan approval is a tricky business indeed. For successful car loan applications at Ratnakar Bank, you need to fulfil the following eligibility criteria. They are:
Your age must be between 21-60 years during the loan application
Your income must be a minimum of INR 2.4 lakhs per annum
Your car must be at least 10 years old at the end of the loan tenure
Your car has to be on Ratanakar Bank�s approved car list
For salaried persons- job experience of a minimum of 2 years
For self-employed individuals- a minimum of 3 years of business vintage in the same line of work
The following documents are essential if you want to apply for Ratnakar Bank car loans:
Valid identity proof - Voter ID / PAN Card/ Aadhaar Card/ Driving License / Passport
Address Proof - Telephone Bill / Electricity Bill / Registered Lease Deed
Passport Sized Photographs
For business owners - Sales Tax Challans / IT Returns / Shops & Est. Certificate / Partnership Deed
For salaried individuals - Salary slip of the last 3 months and form 16 issued by the employer
With car loans from Ratnakar Bank, you can rest assured of the flexibility of loan sanctions. The loan schemes incorporate smooth customisation while ensuring quick and easy loan sanctions.
All car buyers across India are very happy with the flexible doorstep service provided by the bank in the case of car loans. Besides, you can also avail of loan amounts as high as INR 30 lakhs with an interest rate ranging from 12% -14% per annum.
Hence, with just 1% processing charges and a flexible repayment schedule, Ratnakar Bank stands out in offering premium car loan amounts at low rates of interest.
You can check the car loan interest rates of various banks and select the one with competitive rates.
Ratnakar Bank helps you with quick and easy car loan sanctions.
The rate of interest on your car loan gives you an idea of the loan tenure and EMIs.
Ratnakar Bank offers car loans starting from 12 -14% per annum.
A high credit score helps you to get low rates of interest on car loans.
To avoid lengthy documentation processes, choose Ratnakar Bank car loans.
EMIs of a car loan depend on loan tenure, loan amount and interest rate.
You can have a low rate of car loan interest by increasing your credit score.
A new car allows you to opt for a low rate of interest on the car loan.
You can get two types of car loan interest rates - fixed and floating.