Note: Updated on 19 Nov 2021, for latest interest rates, please visit bank website.
|INTEREST RATE||8.25% to 12.50%|
|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 Saraswat Cooperative Bank
Saraswat Cooperative Bank Limited is a Co-operative bank in india. It has headquarter in Mumbai. Saraswat Cooperative Bank Limited was founded on 14-09-1918. It has 442 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 Saraswat Cooperative Bank Limited which includes Saraswat Cooperative Bank Limited Official Website, Saraswat Cooperative Bank Limited ATMs accross the India, Saraswat Cooperative Bank Limited Branches accross the India, Saraswat Cooperative Bank Limited Contact Numbers, Saraswat Cooperative Bank Limited official EmailID, Saraswat Cooperative Bank Limited Headquarter and Saraswat Cooperative Bank Limited Headquarter Address. Find Saraswat Cooperative Bank Limited Car loan purpos, Eligibility, Margin, Repayment of Car Loan ,Security, Documents Required for Car Loan from below.
Other Products of Saraswat Cooperative Bank Limited:
Saraswat Cooperative Bank Car Loan Purpose
Purchase of New Car and Pre-owned Car for personal use..
Saraswat Cooperative 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.
Saraswat Cooperative Bank Limited 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
Saraswat Cooperative Bank Car Loan Amount
New Car - Maximum Rs. 150 lakh
Pre-owned Car : Maximum Rs. 100 Lakh
(1) Salaried : Max 40 times of Avg Net Monthly Salary.
Businessmen : Max 5 times of Net Cash Accruals.
(2) 80% of On-Road cost extended upto 100%
1 or 2 whichever is lower
0% - 20% of On-Road cost
Saraswat Cooperative Bank Car Loan Repayment
New Car : Salaried & Businessmen - Max 7 years
Pre-owned Car :
Maximum 36 months for Cars more than 3 years but less than 5 years old.
Maximum 60 months for Cars less than or equal to 3 years.
Hypothecation of car.
Additional : One guarantor in case of pre-owned car.
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 Saraswat Cooperative Bank Limited, Saraswat Cooperative Bank Limited SMS balance check number, Saraswat Cooperative Bank Limited SMS banking, Saraswat Cooperative Bank Limited mobile banking, Saraswat Cooperative Bank Limited toll free number,Saraswat Cooperative Bank Limited toll free number 24*7, Saraswat Cooperative Bank Limited miss call number.
- CUSTOMER CARE NUMBERS - 1800229999
- CONTACT NUMBERS - 022-66005555, 41572070
Saraswat Cooperative Bank Limited Contact Details
Saraswat Cooperative Bank EMI Calculator Saraswat Cooperative Bank Branches Saraswat Cooperative Bank Car Loan FAQsCar Loan Document Required
- BANK OFFICIAL WEBSITE - www.saraswatbank.com
- CONTACT NUMBERS - 022-66005555, 41572070
- EMAIL ID - email@example.com
- CUSTOMER CARE NO. - 1800229999
- TOTAL BRANCHES - 442
- TOTAL ATMS - 255
- HEADQUARTER - Mumbai
- BANK ADDRESS - Mittal Court, "A" Wing, Vidhan Sabha Marg, Nariman Point, Mumbai, Maharashtra Pincode-400021
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