Car Loan / Two-Wheeler Loan

Buying a vehicle is a dream for many. Owning a car or a bike gives you the freedom to commute at your own time and pace. However, with every passing year, the prices of vehicles are increasing. A Client can easily apply for a Vehicle Loan to fulfil his dream.

Vehicle Loan – Meaning
A Vehicle Loan allows you to purchase two and four wheelers for personal use. Bank finances the money (making a direct payment to the dealer on the buyer’s behalf) while the buyer must repay the loan in EMIs over a specific tenure at a specific interest rate.

A Client’s eligibility for a Vehicle Loan depends on his CIBIL Score, Net (in hand) monthly income and job profile. Most Banks offer 75% to 100% of the vehicle’s on-road price, based on its type and price.

Types of Vehicle Loans
• Car Loans: to purchase a brand-new car of your preferred brand.

• Two-Wheeler Loans: To purchase a brand-new two-wheeler of your preferred brand. A client can buy geared motorbikes and non-geared scooters.

• Pre-owned Car Loans: To purchase a pre-owned car which is a cost-efficient alternative to buying a brand-new car.

Eligibility criteria
A client can apply for the loan as long as he can show the minimum net monthly income (across the corresponding Vehicle Loan) and has a good credit score exceeding750 points.

“My Rupee Mantra” team access a clients travel requirements, comforts, his net monthly income, CIBIL Score and choose the best Vehicle Loan Mantra (Product) suitable for him. Our team checks fees and charges of all Banks and provide a best Mantra (Product) for the client with attractive rate of interest and terms with flexible tenures as per client’s repaying capacity.