Royal Bank is one of the best financier for car loans in America and all over the world.Royal Bank offers Flexible schemes & quick processing on car loans.
Royal Bank Car Loan value is calculated as per the on road price of the vehicle.Royal Bank had Tie ups with all leading automobile manufacturers to ensure the best deals.
Royal Bank offers car loans up to 90% of the ex-showroom price of the car. Loan tenure can be extended up to 6 years which makes it easier to repay.
For a used car the Royal Bank arranges finance for a maximum of 85% of the valuation of the car. For used cars the maximum tenure can be five years.
Any person who earns a minimum of 2000$ per annum and have above 21 years of age are eligible to apply the Royal Bank’s Car Loan.
Royal Bank Car Loan Features
- Attractive interest rates
- Loans available for salaried and self employed individuals, proprietorships and partnership firms
- Special schemes for Royal Bank account holders
- No income proof schemes available
- Loans offered from 2000$ onwards
- Loans tenure from 1 year to 6 years.
Royal Bank Car Loans are available with Fixed and Floating Interest Rates. The amount of loan sanctioned depends on the strength of income related documents. On absence of income proof, loan could be sanctioned on producing the bank statement, loan repayment track record, etc.
Income Proof has to be submitted for last two years. Prepayment of loan is allowed. However, one is not permitted to prepay in parts. ITR, Form 16, and Salary Slip can be submitted as the proof of income. One also has to submit proof of bank account continuity. Apart from these, address proof and identity proof are also admitted.
