Car Loan: Planning to buy a car, these 10 banks are offering the cheapest car loan

If you are planning to buy a car on loan, then this news is of your use. Everyone wants that they get a car loan at least on interest rates. However, the interest charged on a car loan depends on many things. Banks give many things like salary, their occupation, current EMI and credit score before giving a car loan. The interest rate of the car is decided on these things only. Those with a good credit score get a car loan at a low interest rate. There are many banks which are providing car loans to customers at very cheap interest rates.

To get a car loan, you must be at least 18 years old and at least 75 years old. Also, your monthly income should be at least Rs 20,000. You must be employed or self-employed for at least one year. To get a car loan, you need to have PAN, passport, Aadhaar, driving license or voter ID card in the form of an identity card. Along with this, you have to give passport and Aadhaar as ration card and utility bills such as water bill, electricity bill etc. as a residence certificate. Apart from this, the last 6 months bank statement has to be given along with 3 months salary slip, Form 16 and ITR as income proof.

These banks are offering the cheapest car loan

Government banks are offering the cheapest car loan to their customers in the country. Central Bank of India along with Punjab and Sindh Bank are offering the cheapest loan to customers. 10 lakh car loan These top 10 banks are offering interest rates ranging from 7.1% to 7.55%. You can take a car loan of Rs 10 lakh for a period of 7 years. Punjab & Sind Bank is offering car loans at the rate of 7.1%. At the same time, on taking a car loan from the Central Bank of India, 7.25% interest will have to be repaid annually.

Car loans are available at 7.3% from Canara Bank, 7.30% from Punjab National Bank and 7.35% from Bank of Baroda. At the same time, Union Bank of India is offering car loans at 7.4%, Bank of India 7.45%, Bank of Maharashtra 7.5% and IDBI Bank 7.5% interest rate to customers. is. Apart from this, Indian Overseas Bank is providing car loans at the rate of 7.55%.

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