Thursday, February 14, 2008

Eligibility Terms for your Car Loan

Car Loans

Particulars Salaried Individual

Self-Employed Individual

Partnership Firm

Private / Public Ltd Co
Age Criteria
The applicant should be atleast 21 years old at time of application, and below 60 years of age at time of maturity of the loan
Any Proprietor, partner, professional or director above 21 years of age but below 65 at the time of the loan's maturity
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Limited companies should have been in existence for at least 2 years
Income Criteria
Gross annual salary above Rs 1 lakh p.a
Gross annual income above Rs 60,000
Firm should have a minimum PAT (profit after tax) income of Rs 60,000
Minimum PAT (profit after tax) of Rs 60,00

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