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| Home » Banks Providing Auto Loans in India » Corporation |
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Corporation Bank Auto Loans |
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Since 1906,Corporation Bank has been giving vigorous banking services to the country.'The Bank of Pride' is about to hit the enter hundred years of its service. It is a public sector bank . It has bagged certain awards over the years. These include, Best Bank Award For Excellence in Banking Technology, in the financial year 2001-2002.
Corporation Bank Auto Loans are reliable. Today 57.17% of its share capital is held by the Government of India. The Government of India has issued a number of car loans for the citizens of the county to fulfill their dream of owning a car. These are called auto loans.
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Corporation Bank Auto Loans are for old and new cars both. One can choose from margin money scheme , advance EMIS and deposit payment schemes. ''Corpmobile'' gives you greater value. It is a vehicle loan issued by the Corporation Bank. Corporation Bank Auto Loans are straightforward for people. It issues loans on motorcycles and cars. Bank Loans in India speak of the efficient banking structure the country has achieved.
Term and conditions for the loan are as follows :
The eligibility for these loans is it is open to professionals and businessmen both. It is for people who have sole proprietorship and those in partnership. The purchasers minimum gross income should be RS 1.20 lakhs for four wheelers and 50000 for purchase of two/three wheelers. Income of spouse or close relative could be included if they join as co- obligants.
The purpose of these loans is for people who want four/three wheelers/ two wheelers for profession/business use water transport operations. Corporation Bank Auto Loans provide opportunities for the dream possession. Corporation Bank Auto Loans rate of interest is 12%with effect from July '07. In Banks Providing Auto Loans it can be recommended.
Repayment conditions are maximum 84 months in equated monthly installments. Maximum 60 months for purchase of 2 or 3 wheelers. In case of second hand vehicles maximum repayment period will be reduced to the extent of the age of the vehicle. Corporation Bank Auto Loans conditions have to be read carefully.
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