DENA BANK CAR LOAN INTEREST RATES

DENA BANK CAR LOAN INTEREST RATES

Dena Bank, in July 1969 along with 13 other major banks was nationalized and is now a Public Sector Bank constituted under the Banking Companies (Acquisition & Transfer of Undertakings) Act, 1970. Under the provisions of the Banking Regulations Act 1949, in addition to the business of banking, the Bank can undertake other business as specified in Section 6 of the Banking Regulations Act, 1949.

Take the smooth road to own your Dream Machine

Get on the right track with Dena Auto Loan and drive home your home machine.

You are eligible if:

·You have a gross income of more than Rs.75,000/- p.a. for loan for purchase of motor cycle / scooter and more than Rs.1.50 lacs p.a. for loan for purchase of cars.

·You are a partnership firm / company for purchase of car. The firm / company should be profit making for the last 2 years. The net profit as per Audited Balance Sheet of last year should be more than Rs.3.00 lacs.

Loan Amount

•Upto Rs. 50,000/- for purchase of a new two wheeler.

•Upto Rs. 8 lakhs for purchase of a new car.

Margin

20%

Rate of Interest

BR + Latest Interest Rate

INTEREST CHARGED ON DAILY REDUCING BALANCE

NO PREPAYMENT CHARGES

Security

Hypothecation of the vehicle purchased.

Mode of disbursement

Loan disbursed directly to the authorized dealer.

Process Fees

•Two wheeler- Rs. 500/-

•Four wheelers:

For loans upto Rs. 2.50 lacs, Rs. 1,000/-.

For loans above Rs. 2.50 lacs to Rs. 7.50 lacs, Rs. 1,500/-

For loans above Rs. 7.50 lacs, Rs. 2,500/-.

Repayment

Upto 60 EMIs (For new vehicles) & upto 36 EMIs (For old Vehicles).

 

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