Soneri Bank offers an affoardable car finance option for customers using their Soneri Car Loan Scheme. This product offers customers the chance to select their preferred vehicle with financing facility of up to Rs. 3M and with 5 years loan term and purchasing it in an affordable way. It comes with benefits and features that make it a competitive product when compared to other banks and that is what makes it a great option for those who want to own their own vehicle.

Benefits

The aim of the process is to make it as quick and hassle-free as possible and so, once applications are submitted, customers will find out whether they have been accepted in as short a time as possible. For those who do apply, there is no processing fee applied in case the application is declined.

Customers will be required to make a down payment depending on the type of vehicle they purchase while there is a minimum and maximum amount that customers can borrow. Customers have the option to use the finance to purchase a used or reconditioned vehicle while they have the opportunity to make partial payments or settle the loan early. The loan can be spread over as long as five years, giving customers the chance to control the amount that they repay.

Eligibility

For those who are interested in this product, it is perfect for salaried individuals, self-employed professionals, businessmen, agriculturists and rental income individuals. For those who are salaried, they must have been in their current employment for a minimum of 1 year with 2 years continuous employment with permanent status. For those who are in business or self-employed, they must have been in business for at least 1 year.

The product is suitable for those who aged under 60 years of age if they are a salaried individual or the age of 70 if they are in business or self-employed. The maximum ages related to age when the loan matures.