Note: Updated on 19 Nov 2021, for latest interest rates, please visit bank website.
|LOAN TENURE||Max. 84 EMI|
|PROCESSING FEE||As decided by the bank from time to time|
|PRE CLOSURE CHARGES||As decided by the bank from time to time|
About Allahabad Up Gramin Bank
Allahabad Up Gramin Bank is a gramin bank in india established on 02-03-2010.
It has headquarter in Banda and address is DM Colony, Civil Lines, Banda -210001(U.P.).
it has 1308 branches across the state.
It provides all the financial services to its customers like saving deposit, fixed deposit, recurring deposit, loans, personal loans, netbanking, RTGS, NEFT, IMPS, Atal Pension Yojana, Pradhan Mantri Jandhan Yojana, Pradhan Mantri Suraksha Bima Yojana, Pradhan Mantri Jeevan Jyoti Bima Yojana and many more.
Allahabad Up Gramin Bank Car Loan Interest Rates, Car Loan at 10.75% Updated on 28 Nov 2022. Apply for Car Loans Online. Find Allahabad Up Gramin Bank Car loan purpos, Eligibility, Margin, Repayment of Car Loan ,Security, Documents Required for Car Loan from below.
Other Products of Allahabad Up Gramin Bank:
Allahabad Up Gramin Bank Car Loan Purpose
For purchase of new vehicle i.e. car/ jeep/Multi Utility Vehicle (MUV) for personal use only. Second hand vehicle of the above categories, which is not more than three years old, may also be purchased under this scheme. .
Allahabad Up Gramin Bank Car Loan Eligibility
- Age: 21 to 60 years.
- Permanent employees of State/Central Govt., Public Sector Undertakings, Corporations, Private Sector Companies and reputed establishments.
- Professionals, self-employed and others who are income tax assessees and persons engaged in agriculture and allied activities.
Allahabad Up Gramin Bank Car Loan Documents Required
- Applicant's latest photograph.
- Age Proof- Mark sheets/pass certificates of S.S.C., H.S.C, Degree courses (Optional)
- KYC (Know Your Customer) Documents.
- Identity Proof (any one): Voter's ID, PAN card, driving license, passport.
- Address Proof (any one): Voter's ID, PAN card, driving license, passport, electricity bill, telephone bill or ration card.
- Income Proof (any one): Latest salary slip, previous year's Form 16, bank statement for the last 6 months.
- Bank Statement or Bank Pass Book of having entries of last 6 months
Allahabad Up Gramin Bank Car Loan Amount
Upto a maximum of two times of Net Annual Income | Net Annual Salary or 8 Lakh whichever is lower
- For new vehicle:- 15% of the cost of vehicle.
- In case of purchase of Pre-owned vehicle, the loan amount will be restricted to 60% of the valuation of the vehicle are proposed costs of the vehicle, whichever is lower.
Allahabad Up Gramin Bank Car Loan Repayment
- For New vehicle: The Loan amount together with interest is to be repaid maximum in 84 equated monthly installments comprising of principal & interest.
- For Pre-owned/Second hand vehicle The Loan amount together with interest is to be repaid in 60 months or residual life of vehicle which is earlier.
- In case of agriculturist, sanctioning authority may fix repayment schedule at half yearly/yearly basis coinciding with the time of harvest of crop. But in any case, repayment period should not exceed beyond seven year/five years as stated above.
(1)The vehicle purchased with bank loan, to be hypothecated to the Bank.
(2) Personal Guarantee of two persons of adequate means & worth.
Tips to Manage Car Loan in a Better Way
(1) Make Proper Schedule for EMIs to be paid
You must make a proper schedule for payment of your EMIs in time and without any hassle or burden.
(2) Never Skip any Payment
Automatic transfer from your bank account is the best option that will make sure that the EMIs are paid every month without fail. In this way, none of the EMIs will skip. This will also help improving your credit score.
(3) Keep Loan Tenure Small
You must keep the car loan tenure as small as possible if your finances permit. It will be beneficial for you in two ways. First, you will get rid of loan in an early manner and second, your interest outgo will be very less as compared to longer tenure car loans.
(4) Make one Extra Payment Every Year
You must try to make an extra payment of loan amount each year. You can do so when you receive any funds like bonus etc. It will reduce your loan tenure or EMIs.
(5) Refinance your Car Loan
You must keep watching other institutions who are offering car loans and their interest rates. If other institution is offering you a car loan at lower interest rate, it would be beneficial to get your car loan refinanced from that institution.
Benefits of Car Loan
- Higher Loan Amount: Banks offer you a car loan of up to 80-100% of the on-road price of the car in case of new cars. The on-road price of a car includes the ex-showroom price, state government tax and insurance cost of the car.
- No Need to Liquidate your Investments: If you avail car loan then there is no need to liquidate your investments which you have made for some other purposes.
- Flexible Tenure: You can go for any loan repayment tenure ranging from 1 year to 7 years according to your choice.
- Tax Benefits: Car Loan can help you save on tax if you are a self-employed person/ businessman and use the car for legitimate business purposes. If you are a self-employed person/ businessman, you can claim the interest paid on car loan as a business expense. In this way, your taxable income will get reduced by the amount of interest you have paid in a financial year on car loan.
Contact details of Allahabad Up Gramin Bank, Allahabad Up Gramin Bank SMS balance check number, Allahabad Up Gramin Bank SMS banking, Allahabad Up Gramin Bank mobile banking, Allahabad Up Gramin Bank toll free number,Allahabad Up Gramin Bank toll free number 24*7, Allahabad Up Gramin Bank miss call number.
- CONTACT NUMBERS - 05192-220109, 221096, Fax-05192-221463
Allahabad Up Gramin Bank Contact Details
Allahabad Up Gramin Bank EMI Calculator Allahabad Up Gramin Bank Branches Allahabad Up Gramin Bank Car Loan FAQsCar Loan Document Required
- BANK OFFICIAL WEBSITE - www.allahabadgraminbank.in
- CONTACT NUMBERS - 05192-220109, 221096, Fax-05192-221463
- EMAIL ID - email@example.com
- TOTAL BRANCHES - 1308
- HEADQUARTER - Banda
- BANK ADDRESS - DM Colony, Civil Lines, Banda -210001(U.P.)
Other Banks Car Loan Interest Rates