Aryavart Bank Car Loan Interest Rate at 8.30% to 9.20%

Note: Updated on Feb 2023, for latest interest rates, please visit bank website.

About Aryavart Bank

Aryavart Bank is a gramin bank in india established on 04-01-2019.

It has headquarter in Lucknow and address is A-2/46, Vijay Khand, Gomti Nagar, Lucknow-226010.

it has 0 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.

Aryavart Bank Car Loan Interest Rates, Car Loan at 8.30% to 9.20% Updated on 06 Dec 2024. Apply for Car Loans Online. Find Aryavart Bank Car loan purpos, Eligibility, Margin, Repayment of Car Loan ,Security, Documents Required for Car Loan from below.

Other Products of Aryavart Bank:

Aryavart 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. .

Aryavart Bank Car Loan Eligibility

1. Age: 21 to 60 years.
2. Permanent employees of State/Central Govt., Public Sector Undertakings, Corporations, Private Sector Companies and reputed establishments.
3. Professionals, self-employed and others who are income tax assessees and persons engaged in agriculture and allied activities.

Aryavart Bank Car Loan Documents Required

1. Applicant's latest photograph.
2. Age Proof- Mark sheets/pass certificates of S.S.C., H.S.C, Degree courses (Optional)
3. KYC (Know Your Customer) Documents.
4. Identity Proof (any one): Voter's ID, PAN card, driving license, passport.
5. Address Proof (any one): Voter's ID, PAN card, driving license, passport, electricity bill, telephone bill or ration card.
6. Income Proof (any one): Latest salary slip, previous year's Form 16, bank statement for the last 6 months.
7. Bank Statement or Bank Pass Book of having entries of last 6 months

Aryavart Bank Car Loan Amount

Maximum Rs. 50.00 Lakh

Margin

25% of (Cost of Vehicle+Registration+Insurance Charges)

Aryavart Bank Car Loan Repayment

1. For New vehicle: The Loan amount together with interest is to be repaid maximum in 84 equated monthly installments comprising of principal & interest.
2. 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.
3. 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.

Security

(1)The vehicle purchased with bank loan, to be hypothecated to the Bank.
(2) Personal Guarantee of two persons of adequate means & worth.
(3) Other Collateral Security applicable where loan amount is greated than Rs. 25.00 Lakh. Collateral Security of minimum 50% value of Loan amount is required.

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 Aryavart Bank, Aryavart Bank SMS balance check number, Aryavart Bank SMS banking, Aryavart Bank mobile banking, Aryavart Bank toll free number,Aryavart Bank toll free number 24*7, Aryavart Bank miss call number.

• CONTACT NUMBERS - 522-2398874, 522-2398873, 7317799391

Aryavart Bank Contact Details

• BANK OFFICIAL WEBSITE - http://www.aryavart-rrb.com/
• CONTACT NUMBERS - 522-2398874, 522-2398873, 7317799391
• EMAIL ID - [email protected]
• TOTAL BRANCHES - 0
• HEADQUARTER - Lucknow
• BANK ADDRESS - A-2/46, Vijay Khand, Gomti Nagar, Lucknow-226010

Aryavart Bank EMI Calculator  Aryavart Bank Branches  
Aryavart Bank Car Loan FAQs  Car Loan Document Required

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