Skip to main content


Buying an automobile in today's time is a need for some or for some it is a luxury to have. Especially for the mid-income group, it is more of a need, but spending the whole amount to buy a four-wheel at once, is not an option for many. As it will disturb the whole financial balance. The only solution to this is opting for car loan, which will divide the whole price into easy monthly installments and help to the release the financial burden.

The credit is not approved easily, one needs to have certain documents, a good financial record, and many other things. Also one needs to have a financial plan before applying for finance. As easy monthly installment is an extra monthly expense, so one needs to be sure that they can manage that. The process of approval is quite long but under certain given criteria and with some conditions apply, there is also an option of "Instant Car Finance Approval".

Criteria To Borrow Advance For Four-Wheel

Every bank has some set eligibility criteria to give credit. The person needs to fit in these criteria to get the advance passed. These criteria are basically age, proper documentation, monthly income, employment type, financial record of recent time and other such things. Every bank or finance company has their own set of criteria. There are some basic documents that are must for four-wheel credit, the documents are listed below.

       Proof of identity and address
       Proof of age
       Income proof
       Bank statement
       Tax return file

Apart from these basic documents, it also depends on the bank and finance company that they can ask for any additional documents apart from these documents. The final decision to approve the car  loan is on the bank or finance company, even if all the documents are perfect.

Repayment Of Borrowed Sum Of Money

The whole amount of the car is not financed, one has to make a certain amount as down payment, the amount depends on the loan amount approved, it is approx 60% to 80%, but also depends on a lot of other things. even the buyer can decide the loan amount by deciding the down payment. The interest on easy monthly instalment depends on the EMI amount and the number of months it is divided into. If the number of the months is more, then the easy monthly instalment is low, but the interest rates are high. if you are paying the whole amount in less number of EMI then you will end up paying less interest rate. It is always necessary to do some research before getting a car loan, and the best way to do it is internet, one should always remember that the criteria for car loan also depends on the region, including the region while searching for it, for example, car loan in tricity, and then accordingly decide the best car loan offer in your region.


Popular posts from this blog



In India, being a developing country every year many start-ups are launched and operated successfully. There are really a great number of young people who come up with an excellent business ideas every year. But most of businesses fail and the main reason behind it is the lack of funding. Nowadays, banks and other financial institutions become more stringent in the eligibility criteria to sanction a business loan. And to "Make Your Business Loan Successfulyou need to provide a stack of documents to the lender. Then the lender verifies your documents and takes 30 to 40 days to disburse the loan. So the parallel way of business funding is ShubhBank. Our aim is at funding your dying business but our way of functioning is different from other traditional lenders. We provide easy business loans for small and medium-scale enterprises with progressive vision.
ShubhBank have different process of gauging the loan eligibility than traditional banks and financing companies. Lenders d…


We live in a country that is rich in culture and heritage. Every person celebrates the associated festivals in his own way and the level of celebration at some point is completely dependent upon person’s pocket. The flow in the expenses during festival season is very high. Funds sometime act as restriction to the excitement and the expectation of family about the festival season. The navratri season is considered to be an auspicious period. People find the perfect excuse to indulge in big purchase like gold, property, vehicles and also plan for marriage. This festival season allows you the double benefit of purchasing and borrowing along with lucrative offers from financial institutes. Many banks and NBFCs introduce new and innovative schemes each year from credit card cash back discounts to cheaper interest rates and waiver for loan processing and documentation fee. ShubhBank provides you the extraordinary features to "Grab a Loan this Navratri" as we process this loan with…