NRI Car Loans: Eligibility | Documents | Features
NRI Car Loans in India: Get Details on Various things required for Car loans in India are like Documents, EMI, Income Criteria, Interest Rates, Repayment options and Tenure etc.
Most of the Banks have their own List of Countries for they provide a car loans.
Eligibility:
- Minimum Monthly Income: Rs.20000
- loan should be up to 50% of salary
- NRI Account is Must
Documents Required:
- Passport, Valid Visa, Work Permit, Work experience certificate, salary certificate and statements of NRE or NRO Accounts.
- You will also have to give Documents of the co-application which will include PAN number, Bank account statement, Address Proof and Age Proof.
Amount of loan: The amount of loan varies from bank to bank.
Most banks finance 85-100% of the ex-showroom price.
Loan Tenure: Loan tenure is between 5 and 7 years.
Interest Rates are Varies from Bank to bank; currently State bank of India offer loans at 10.45%.
