Day: June 11, 2017

Easier access to loans when purchasing a car

Easier access to loans when purchasing a car

Technology
Borrowing money from the bank or any other loan agencies is a common thing most people do.  There are specific documents that are required in order to be given loans to show commitment. The eligibility to get loans from different institutions also differs. The individuals who would wish to get loans are classified according to the gross income they get. The following are the major qualifications to getting used car loan Bangalore: Gross income A salaried individual should have a minimum annual income of Rs 2.5 lakh for all their assets. For self-employed and unemployed individuals, the threshold is lower at Rs 2 lakh per annum. The permissible tenure for the loan is between 12 months and 60 months. For some car models, the maximum term that can be sanctioned is as high as 84 months.