The process has never been easier, even more so with the Citibank. The application process is very simple and all you need to do is register your self at the official website of the bank. The rest will be taken care of, as a bank representative gets in touch with you.
Citibank offers to its customers three different schemes, namely New Car Finance, Pre-owned Car Finance and Car Cash-in. While the auto loans are offered at competitive rates, the bank offers a flexible period for repayment of loans, that is, any where between 12 months to 60 months. While the repayment options are flexible and easy, the bank boasts of a large network of dealers. The Car Cash-in offers the unique facility of auto loans for those who want to continue owning their own cars. While the tenure is again kept at a flexible period of one to five years, you do not require to produce any guarantors for the whole transaction. These features are accompanied by an easy documentation process, which makes the whole process as hassle free as possible. In case you already are a Citibank customer, you get many benefits in the process. Thus, you can get your loan straight within half hour of applying for the same. Moreover, in case you are applying for loan against your own car, you can then retain the ownership of your car.
One of the special online tools of Citibank is that it enables you to calculate your equated monthly investment on your own. All you need to do is fill in details such as the value of the car, the product you are interested in, the loan amount, interest rate and the tenure in months. The bank besides charging the interest rate (which is subject to change), there are also other charges taken by the bank. These include booking fees, which is taken during signing the loan agreement, Check bounce charges of Rs.500/ and pre-Closure charges, which amounts to five percent of the Principal outstanding.
Know more about the other banks providing car loans at Banks offering Auto loan.
|