Corporation Bank Car Loan

Eligibility – for Corp bank Car Loan
Individuals [Professionals/Businessmen/ Salaried class and others] NRIs, Sole Proprietorships, Partnership Firms, HUFs, Companies, Trusts/ Institutions are eligible.
Main applicant shall have income.
Income of the spouse/close relative/s can be included if they join as Co-applicants to supplement repayment capacity.
In case of Company/Firm/Trust, Directors/Partners/Trustees having regular/ independent income can join as co- applicant/s to supplement repayment capacity.
In case of salaried class, applicant/co applicant must be confirmed in the service.
For 2 & 3 wheelers :Applicants to have a minimum NET annual income of Rs.0.50 lakhs.
For Four wheelers :Applicants to have a minimum NET annual income of Rs. 1.20 lakh.
Cash accruals/Depreciation also added to income, in case of borrowers other than salaried class.
Latest Rate of Interest on car loans – 2014
Loan tenure
Interest Rates
New Car Loans upto Rs.50 Lac
10.75%
New Car Loans Above Rs.50 Lac
11.25%