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If suddenly there is a need for money and you do not know any other way, then you can take a loan against your car. Both banks and non-banking financial companies (NBFCs) offer 'loans against cars'. Loan is available from 50% to 150% of the current cost of the car. For 1 to 7 years, this loan is available at 13 - 15% interest per annum. The processing fee is 1 - 3%.
Most of the banks look at the loan repayment track record of the applicant for at least 9 months before sanctioning the loan against car. Your loan will be available only if you pay all the EMIs of the existing loan (if any) on time.
Krishna Homes, Adjoining Toyota Showroom , Hoshangabad Road Bhopal 462026
Site Address : E-8, Arera Colony, Near Sagar Public School, Aakriti Eco City, Bawadia Kalan, Bhopal (M.P.) 462026
Mob: 7354815577