Auto Loan

There are many firsts in life, for which almost everyone needs a little bit of help. Buying your first car is one of them. It could a hugely liberating experience – no more wasting time at bus stops or negotiating with autorikshaw drivers or taking multiple modes of transport on your office commute every day. To buy that dream car, a car loan is can come in very handy. Read on how to apply for the best car loan in India.Things to Look for While

Buying a vehicle, and getting an auto loan to facilitate the purchase, can be the first significant financial commitment that many people make.  It can be exciting to have your own transport and be liberated from crowded trains and buses, waiting times, and unpredictable schedules!  Buying your own vehicle can give you an exhilarating sense of freedom but is also accompanied by some natural concerns for a first time buyer – how to find the best

Buying an automobile - whether a new or used car or even a two-wheeler - can be quite a drain on your wallet. An auto loan is probably the best way to finance your vehicle so long as you research for the loan that best suits your needs including the interest rate offered, loan period (tenure) and the various other terms and conditions.What are the interest rates on an automobile loan? Unlike home loans, automobile loans have

Planning to apply for a loan? Or if you have unsuccessfully applied for one, are you wondering why your application was rejected? Applying for a loan seems a straightforward thing to do but many people unknowingly reduce their chance of securing a loan by making some very avoidable ‘loan mistakes’.  What are some of the things that trip up your application? And more importantly, how can you avoid them when you next apply for a loan?  Some common ‘l

Bank of India currently offers an interest rate of 4% per annum for savings bank accounts.  The rate is subject to change at any time.Bank of India Interest rate on savings accountMost banks, including Bank of India, offer an interest rate of 4% p.a. on savings bank accounts. Earlier, the RBI had laid down a uniform interest rate on savings accounts for all banks which meant that there was no difference in the amount you earned as interest, regardless o

Even small mistakes on a small loan can have big consequences! Do not assume that because a loan is small in size it does not require much time or effort to complete.  Here are some common mistakes to avoid when you apply for a small loan. 1. Not researching enough Often because it is a relatively small loan, customers do not pay attention to every detail of the terms and conditions of the loan.  This can lead to unwanted complications and unnecessarily high costs in

An auto loan can be the first significant loan many people take from the formal banking system. While it is a wonderful feeling to own your own vehicle, the cost of purchasing the vehicle should not leave you unhappy! Here are some tips on what you can do to get a good deal on your auto loan. Remain updated on your credit score: When you are planning to buy a vehicle – whether two wheeler or car – the f

Two-wheeler insurance (also known as bike insurance) is mandatory for all two-wheeler riders in India. Besides purchasing the policy, you need to make timely renewals, so that the plan never lapses and is always active.

When you apply for a car loan, it could be used to purchase a new or used car. In general, we usually hear of car loans being used for the purchase of a new car. However, banks and other financial institutions also give loans for the purchase of used cars (or second-hand cars, as they are sometimes referred to) but the criteria and terms for such loans can be a little different. What should I keep in mind when I apply for a used car loan? Interest rates

A loan you take from a bank for the specific purpose of buying a car is a car loan or auto loan. A car loan could be used to buy a brand new car or a used car. A car loan is a secured loan because the lender holds the car as security until the loan is fully repaid. This is known as hypothecation to the bank or finance company. Once the borrower pays off the full loan amount, including interest, the complete ownership of the car is legally

An auto loan is usually one of the first big loans individuals apply for from banks and other financial institutions. These loans are taken in order to fund the purchase a new or used car vehicle. The terms and conditions on an auto loan depend on various factors including your income, your credit score and history, your existing loan obligations and ability to repay. What are the various kinds of auto loans? An auto loan can be taken for new car, us

Often several potential car owners are discouraged from the idea of buying car because of worries that they might not be approved for a loan with a relatively low income. It is not impossible to get a loan to buy a car with a low income but some lenders might be willing to give you a loan if you prepare your loan application with some care.Here are some things to keep in mind if you want to buy a car while having a low income:1. First, it is common sense to judge if you real

A car loan is often the first substantial loan that individuals borrow from a bank or other financial institution. As the name suggests, a car loan is sanctioned for the purpose of buying a car – either new or used. The loan period is for a relatively shorter duration than a home loan, and naturally, the loan amount also tends to be smaller. If you are planning to apply for a car loan and want to check if it fits into yo

A loan you take from a bank for the specific purpose of buying a car is a car loan. The loan could be used to buy a brand new car or a used car. A car loan is a secured loan in that the lender holds the car as security until the loan is fully repaid. This is known as hypothecation to the bank or finance company. Once you pay off the full loan amount, including interest, the complete ownership of the car will be legally transferred to you.  However, in case of default on the loan, the car

Often, one of the first loans that people take is an auto or car loan. There are a variety of auto loans on offer on the market today that suit all needs and levels of affordability. Car loans can be taken to purchase both new and used cars. The interest rate on loans for new cars is lower than the interest rate charged for buying a used car. The general range for interest rates on car loans is between 12-15% though this might be h

Understanding how to calculate interest on loans will help you identify the most suitable loan for you. It will let you learn how much your loan will actually cost you so that you can make an informed decision among all the offers available.