COMPARE : CAR LOANS
Allahabad Bank Car Loan
Introduction
Allahabad bank offers finance for buying new vehicle for personal use only. Loan is also available for purchasing pre-owned vehicle which is not more than 3 years old and to be used for personal purpose. The maximum loan amount limit is up to 2 times of Net Annual Income / Net Annual Salary. Bank has set a margin of 15% of the cost of vehicle, in case of new cars while the margin for an old vehicle has been set at 85% of the "Agreed Purchase Price" or 60% of the Valuation of the Vehicle, whichever is lower.
Highlights
  New Car Used Car
Loan Type Term Loan Term Loan
Ex-Showroom/On Road On Road On Road
Loan Amount Loan Limit upto: *Maximum of 2.5 times of Net Annual Income / Net Annual Salary.
*Income of spouse / father/ mother/ son/ unmarried daughter can also be clubbed, provided he/she/they become the co-borrower.
Loan Limit up to: *Maximum of 3 times of Net Annual Income / Net Annual Salary.
*Income of spouse / father/ mother/ son/ unmarried daughter can also be clubbed, provided he/she/they become the co-borrower
Tenure Min. - 12 months.
Max. - 84 months.
Min. - 12 months.
Max. - 60 months.
Interest Rate 10.75 % 10.75 %
Time to Process Loan 7 days 7 days
Preferred Manufacturers Chevrolet, FIAT, Ford, GENERAL MOTORS INDIA, HINDUSTAN MOTORS, Honda, Hyundai, Mahindra, Maruti, Mercedes-Benz, Mitsubishi, Nissan, Reva, SAN Engineering, Skoda, Tata Motors, Toyota Chevrolet, FIAT, Ford, GENERAL MOTORS INDIA, HINDUSTAN MOTORS, Honda, Hyundai, Mahindra, Maruti, Mercedes-Benz, Mitsubishi, Nissan, Reva, SAN Engineering, Skoda, Tata Motors, Toyota
 Fees & charges
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