Janalaxmi Coop Bank Car Loan Interest Rate at 15.00%

INTEREST RATE15.00%
LOAN TENUREMax. 60 EMI
PROCESSING FEEAs decided by the bank from time to time
GUARANTOR REQUIREDYes
PRE CLOSURE CHARGESAs decided by the bank from time to time
Note: Updated on Feb 2023, for latest interest rates, please visit bank website.

About Janalaxmi Coop Bank

Janalaxmi Coop Bank is a Co-operative bank in india. It has headquarter in Mumbai. Janalaxmi Coop Bank was founded on 14-02-1976. It has 26 branches and

It provides all the financial services to its customers like saving deposit, fixed deposit, recurring deposit, home loans, personal loan, car loan, education loan, gold loan, PPF account, lockers, netbanking, mobile banking, RTGS, NEFT, IMPS, E-Wallet, Atal Pension Yojana, Pradhan Mantri Jandhan Yojana, Pradhan Mantri Suraksha Bima Yojana, Pradhan Mantri Jeevan Jyoti Bima Yojana and many more.

Find details about Janalaxmi Coop Bank which includes Janalaxmi Coop Bank Official Website, Janalaxmi Coop Bank ATMs accross the India, Janalaxmi Coop Bank Branches accross the India, Janalaxmi Coop Bank Contact Numbers, Janalaxmi Coop Bank official EmailID, Janalaxmi Coop Bank Headquarter and Janalaxmi Coop Bank Headquarter Address. Find Janalaxmi Coop Bank Car loan purpos, Eligibility, Margin, Repayment of Car Loan ,Security, Documents Required for Car Loan from below.

Other Products of Janalaxmi Coop Bank :

Home LoanPersonal Loan
Education LoanBusiness Loan
Car LoanTwo Wheeler Loan
Gold LoanFD Interest Rates
RD Interest RatesBank ATMs
PPF Account 

Janalaxmi Coop Bank Car Loan Purpose

For purchase of new car, 70% amount of quotation (excluding Tax, Insurance amount) is to be sanctioned and for purchase of old car, the 40% - 50% amount of valuation of machinery / vehicle is to be sanctioned depending upon the age and valuation of car..

Janalaxmi Coop 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.

Janalaxmi Coop 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

Janalaxmi Coop Bank Car Loan Amount

90 % of on-road cost of New Vehicle subject to :
For Salaried Persons - 20 * Average monthly Net Take home pay after deduction of Existing loans EMI.
For Other than Salaried Persons - 24 * Average monthly Net Take home pay after deduction of Existing loans EMI.
Share Subscription As Applicable.

Margin

0% - 30% of on-road cost

Janalaxmi Coop Bank Car Loan Repayment

Maximum up to 60 months

Security

Hypothecation of Vehicle purchased (Registration of Bank's charge with R.T.O.)
Share Subscription As Applicable.
Guarantors : One competent guarantor acceptable to the Bank (Spouse Guarantee is acceptable)

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

  • CUSTOMER CARE NUMBERS - 0253-2577872
  • CONTACT NUMBERS - 0253-2577872, 73, 74, Fax: (0253) 2577878

Janalaxmi Coop Bank Contact Details

  • BANK OFFICIAL WEBSITE - www.janalaxmibank.com
  • CONTACT NUMBERS - 0253-2577872, 73, 74, Fax: (0253) 2577878
  • EMAIL ID - jlcbl_nsk@sancharnet.in, info@janalaxmibank.com
  • CUSTOMER CARE NO. - 0253-2577872
  • TOTAL BRANCHES - 26
  • HEADQUARTER - Mumbai
  • BANK ADDRESS - "Sammuddhi", Gadkari Chowk,Old Agra Road, Near Kalika Mandir, Nashik, Maharashtra. Pincode-422002
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