South Indian Bank Car Loan Interest Rate

I wish to buy a car but don’t have enough bank balance so I want to take car loan from South Indian Bank. Can you please provide me its details of Interest Rate?

[Shaleen]

South Indian Bank Car Loan for Planning to buy a new car, commercial vehicles, or vehicles for agrarian puposes We offer loans for one and all. At minimum interest rates, and no hidden charges, these are very attractive.
Car loan – 1) type of vehicle
2) category of vechile
3) Quantum of loan
4) Proof of income-
6) Repayment period-
7) Security
8) Margin
The rate of intrest 9% on car loan for south Indian bank.

Hello sir I want to take car loan from south Indian bank so here can you please tell me interest rate ?

[sumit]

Hey as South Indian Bank Limited is a private sector bank headquartered at Thrissur City in Kerala, India.


Documentation needed to apply for an South Indian Bank Car Loan

Signed application form with photograph

Photo ID and age proof

Residence proof

Last 6 months bank statement

Documentation for salaried applicants:

Last 3 months salary – slips

Form 16 or Income Tax Returns


Documentation for self-employed applicants:

Last 3 years Income Tax Returns with computation of Income

Last 3 years CA Certified / Audited Balance Sheet and Profit & Loss Account


Interest Rate

BR + 0.55% = 10.75% ; I-Base 10.20%

Loan Tenure

5 years

Processing Fee

0.25% of the loan amount (one-time) or Rs.5000/-whichever is less

Pre-closure Charges

Nil


Features of Car loans from South Indian Bank

South Indian Bank provides car loans for the purpose of :

Takeover or Balance Transfer of prevailing car loan

Buying a new car

Buying a used car

Purchase Cost is reimbursed within three months from date of purchase of the vehicle and is not permitted later on.

Prepayment charges are not levied

The type of vehicles that can be bought are - Private, Commercial/Taxi vehicle Vehicles for Agriculture/allied purposes

Hello buddy ! I want to apply for south Indian bank car loan . do you know about rate of interest on car loan charged by South Indian bank ?

[Kiran Chandar]

Hello buddy as we have information regarding to Car loan policy of South
Indian bank we provides you as follows

Purpose :

Purchase of new vehicles

Takeover of Existing Vehicle loans

Reimbursement of Purchase Cost is restricted to within Three months from
date of purchase

For purchase of second hand vehicle

Type:

Broadly Classified in to 6 by focussing on target Customers.

Mobi Loan (Salaried Class) –

Employees of MNCs, State/Central Govt, IT Companies etc

Mobi Loan (Business Class) –

Self Employed, Business people

Mobi Loan (Next Generation) –

Professionals with net monthly income of Rs 60000/-

Mobi Loan (NRI) –

NRI individual/jointly with NRI or resident spouse.

Mobi Loan (Agriculturist) –

Persons whose main source of income is Agriculture.

Mobi Loan (Senior Citizen/Pensioner) –

Pensioners/HNIs without pension

Here we provide you general view on interest rate of Car loan

South Indian Bank Car Loan Interest RatesUpdated on 15 Jan 2016

Interest Rate

BR + 0.55% = 10.55% ; I-Base 10.00%

Loan Tenure

5 years

Processing Fee

0.25% of the loan amount (one-time) or Rs.5000/-whichever is less

Pre-closure Charges

Nil

Guarantor Requirement

Guarantor Required