Corporation Car Loan Rate, Eligibility Calculator, Apply Online
Corporation Bank Car Loan Offer Aug 2017
|Features and Eligibility||Corporation Bank New Car Loan Scheme||Corporation Bank Used Car Loan Scheme|
|Interest Rates||9.15% Floating
Check Best Offers
|Maximum Loan Amount Eligibility||85.00% of ex-showroom price||Not Available|
|Maximum Loan Tenure (years)||7 years||Not Available|
|Lowest EMI per Rs. One Lakh Loan Amount (Rs.)||Rs. 1,617||Rs. 0|
|Processing Fee||1.00% Min Rs. 1000||Max Rs.|
|Prepayment Charges||Nil||Not Available|
|Interest Calculation||Monthly reducing balance||Not Available|
|Age (years)||Between 21 years and 65 years|
Eligibility Condition for Corporation Bank Car Loan
|Corporation Bank New Car Loan Scheme||Corporation Bank Used Car Loan Scheme|
|Minimum Net Annual Income (Rs. lakh)|
|Self employed professionals||1.2||0.0|
|Self employed businessmen||1.2||0.0|
- Car loan EMI calculation varies from bank to bank depending upon the method of calculation.
- The standard convention should be to use the EMI in arrears method on reducing balance basis – whereby you pay interest on the car loan amount outstanding on a reducing basis at or after the end of the month.
- Simply key in the loan amount, rate of interest and car loan tenure here and check the EMI amount using the
car loan EMI calculator here. In case the EMI amount displayed is different from the one advised to you by the agent, you must check the calculation basis with your car loan agent.
Frequently Asked Questions on Corporation Car Loan
Corporation car loan interest rates today are 9.15% to 9.90%.What is the lowest EMI per lakh on Corporation Bank car loan?
If you apply for a car loan from Corporation Bank, your lowest EMI per lakh will be Rs. 1,617.What is the maximum tenure of Corporation Bank car loan?
You can repay your car loan from Corporation Bank in a flexible period of 7 years.How much car loan I can borrow from Corporation Bank?
Corporation Bank offers you 85.00% of ex-showroom price of car as loan.How much processing fee is charged by Corporation Bank on car loan?
Corporation Bank charges a processing fee of of 1.00% of loan amount Min. Rs. 1,000 and Max. Rs.0 with applicable service tax.Is age an eligibility factor to get car loan from Corporation Bank?
Yes, age is an important eligibility factor to get Corporation Bank car loan as you should be at least 21 years old at loan approval time and 65 years old at loan maturity time.Are there any prepayment charges on Corporation Bank car loan?
You can take car loan from Corporation Bank with Nil prepayment charges.Can I add my spouse's income while applying for car loan from Corporation Bank?
You can combine your income with the income of your spouse to increase your loan eligibility and to get higher loan amount.